Goro project costs pushed to high end of plan

Dec 16, 2005 | 05:26 PM | Rory Carroll

The high cost of materials needed to complete Inco Ltd.'s Goro ferronickel project in New Caledonia has pushed the project's overall price tag to the high end of previous forecasts, the company said in a Dec. 14 filing with government regulators.

The Canadian miner believes that Goro will now cost $1.878 billion, with a 15-percent confidence level. "Such updated forecasts would be expected to be at the high end of the plus-15-percent confidence level," the company said in its latest filing with the U.S. Securities and Exchange Commission.....

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