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Gold/Mining/Energy : Inco-Voisey Bay Nickel [ T.N.V] -- Ignore unavailable to you. Want to Upgrade?

To: Bob Fairchild who wrote (145)	12/17/1997 7:21:00 AM
From: Winer	Respond to of 1615

Inco Announces Submission of Environmental Impact Statement For Voisey's Bay Mine, Mill And Related Facilities TORONTO, Dec. 16 /CNW/ - Inco Limited (''Inco'') announced today that its wholly-owned subsidiary, Voisey's Bay Nickel Company Limited ("VBNCL"), has submitted its Environmental Impact Statement ("EIS") for the mine, mill and related facilities and infrastructure to be developed in the Voisey's Bay, Labrador area (the "Mine/Mill Project"). The EIS was filed with regulatory authorities and with the five person environmental assessment panel, the body created by the January 1997 memorandum of understanding among the Governments of Canada and the Province of Newfoundland and Labrador, the Labrador Inuit Association and the Innu Nation to conduct the environmental assessment of the Mine/Mill Project. Inco's Chairman and Chief Executive Officer, M.D. Sopko, noted that: "The submission of the EIS represents a key milestone in the environmental review and approval process for the Voisey's Bay mine and mill project." The EIS includes information on the results of three years of environmental baseline studies at a cost in excess of $15 million (Cdn.) as well as data on the nature of potential impacts on the natural environment, the methods to mitigate those potential impacts, and other information relating to the potential effects of the Mine/ Mill Project on adjacent communities. A comprehensive environmental study covering the proposed smelter and refinery facilities is also nearing completion. The next step in the environmental assessment process for the Mine/ Mill Project will involve the review of the EIS by the panel and a public review process. It is currently expected that the environmental review and approval process for the Mine/Mill Project will be completed in the fourth quarter of 1998. Inco is the world's premier mining and metals company. It is a leading producer of nickel, supplying about 27 per cent of total world demand. It is also an important producer of copper, precious metals and cobalt. This news release contains forward-looking statements regarding the Voisey's Bay project. Actual results may differ materially from those contemplated by these statements depending on, among others, such key factors as the timing of receipt of necessary governmental and other approvals, engineering and construction timetables, financing arrangements, supply and demand for metals to be produced, production levels and metals prices.