Inco furnace fails

The furnace at Inco’s (TSE) Port Colborne refinery has failed and will be out of service until the end of the year.

Normally, the refinery would produce about six million pounds of utility nickel per month. Feed will be stockpiled until the furnace has been rebuilt, but Inco says it is negotiating with its customers to ensure their needs are met in the meantime.

Spokesman Bob Purcell said Inco will probably never know what caused the failure because the damage has erased most of the clues. No one was injured in the incident and there was no damage to the refinery.