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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (36571)	5/5/2009 2:09:08 PM
From: LoneClone	Read Replies (1) \| Respond to of 195121

PT International Nickel Indonesia Tbk Provides A Report on Pomalaa to The Government of Indonesia antara.co.id JAKARTA, May 4, 2009 (ANTARA) - PT International Nickel Indonesia Tbk ("PT Inco", or the "Company") today announced that the Company has submitted its report on the economic and technical feasibility of a processing facility at Pomalaa to Indonesia's Department of Energy and Mineral Resources ("DEMR"). Following discontinuation of ore supply to PT Antam Tbk in mid 2008, PT Inco is required to deliver a report to the DEMR by April 2009 evaluating the economic and technical feasibility of the construction of a processing facility at Pomalaa. This detailed feasibility study, which was conducted by a number of experienced, independent third-party consultants has determined that this project is not economically feasible at this time based on the current conditions and independent analysis. PT Inco continues to pursue and analyze the feasibility of the proposed project. The company considers itself well positioned to examine alternative development opportunities and strategies for the Pomalaa area. PT Inco is proud to be part of the Indonesian and South East Sulawesi community. Since the year 2000, PT Inco has invested a total of US$5.7 million in community development programs in South East Sulawesi bringing positive impact to the community. Our company has been and will continue to be a major contributor to the prosperity and development of Indonesia, operating in a manner that benefits the country and the communities where we operate.