PT Inco tightens belt despite strong result

CANADIAN nickel giant Inco's 59% owned Indonesian subsidiary, PT International Nickel Indonesia (PT Inco), has announced US$16.3 million net earnings for the September quarter, compared with US$1.5 million for the corresponding period last year.

Despite the rebound, chief executive officer Rumengan Musu warned the company must continue to consolidate its financial position given the softening of the nickel price in the third quarter,