Inco Limited, one of the world's leading nickel producers, which also produces pgms, has announced its results for the first quarter of 2004.

First quarter earnings were $229 million, $1.21 per share, compared to earnings of $64 million, or 31 cents per share for the first three months of 2003.

Inco also explained it produced 147,000 troy ounces of pgms during the same time frame.  Increased pgm production and improved prices for the metals resulted in higher by-product credits.  Inco expects to produce 60,000 oz of pgms in the 2^nd quarter of 2004 and 400,000 oz in the year.