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Inco ships first concentrate from Voisey’s Bay


Toronto, November 16, 2005 – Inco Limited has achieved another major milestone at its Voisey’s Bay project in Labrador, Canada, with the first shipment of nickel concentrate on November 16, 2005, more than six months ahead of the original project schedule.

The concentrate is being shipped to Quebec City and from there will be sent to Sudbury by rail. Inco expects to produce first finished nickel from the Voisey’s Bay concentrate in the first quarter of 2006.

Production at Voisey’s Bay will ramp up over the coming months. The annual production capacity of Phase One of the Voisey’s Bay project is expected to be 110 million pounds of nickel in concentrate, containing 5 million pounds of cobalt and up to 15 million pounds of copper. Phase One of the project will also produce copper concentrate containing approximately 70 million pounds of copper in concentrate annually.

This news release contains forward-looking statements regarding the Company’s Voisey’s Bay project and the planned shipping arrangements for the concentrate to be produced and production capacity. Inherent in those statements are known and unknown risks, uncertainties and other factors well beyond the Company’s ability to control or predict. Actual results and developments may differ materially from those contemplated by these statements depending on, among others, such key factors as production and other anticipated and unanticipated delays, costs and expenses, shipping arrangements and other risk factors listed from time to time in the Company’s reports filed with the U.S. Securities and Exchange Commission.

The forward-looking statements included in this release represent the Company’s views as of the date of this release. While the Company anticipates that subsequent events and developments may cause the Company’s views to change, the Company specifically disclaims any obligation to update theseorward-looking statements. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this release.


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