Mining company Inco has offered a $10,000 reward to help recover around 13 tonnes of a powder rich in pgms.

The powder, which is understood to be rich in platinum and rhodium, was stolen from a warehouse and the company has admitted it has no idea who might be behind the theft.

According to Inco, the powder is worth in the region of $750,000 and the firm's bosses suspect the raid may have been carried out by insiders, given that the thieves clearly knew what they were after and how to get it.

While police have checked local scrapyards, Inco spokesman Corey McPhee said that the powder may have already been sold overseas.

In July, Inco's proposed acquisition of fellow Canadian miner, Falconbridge, was given final approval by the European Commission in a move that has been designed to substantially increase production levels over the coming years.


Ÿ Adfero Ltd