Printed on Recycled Paper------------ ---------

April 1993

Inco volunteersdonate skills toCareers 2000

I nco volunteers, up to 25 ata time working duringweekends and eveninghours, began the wiring andother work in late April andearly May for the Careers 2000Exposition to be held May 4 toMay 7.

The electrical work alonewas expected to take about120 hours to get the BeligroveArena ready for the event. ByMay 1, most of the wiring hadbeen completed, but unex-pected additional work prom-ised to keep Inco volunteersbusy for more evenings. Plat-forms had to be installed allaround the arena floor to levelout the first row of booths.

given additional training toensure they have enough in-formation to talk about theindustry as a whole as well astheir own trades , skills andtraining.

Inco pensioners havejoined the 30 employees involunteering their services forCareers 2000 . Retirees frommines, laboratories , mainte-nance and smelter operationshave come foward to help outwith the exposition.

Most of the pensioners haveoffered to help without hav-ing to be asked , according tovolunteer Reg Laurin , a train-ing coordinator at the Smelter."That helps us a great deal

Ontario Division Vol. 52, No.4

Volunteers also did-VMM aroun e perimeter o more free time to help out

the floor to repair damagecaused by the removal of theboards.

By May 1, crews of 20 to 25people were also being sched-uled to clean up the arenafloor in preparation for theinstallation of booths.

Preparations are also in fullswing for the 12 Inco boothsat the exhibit designed to givevisiting students informationnot only about Inco, but alsoabout the many trades andoccupations availabale here.

There will be plenty of otherInco volunteers involved inthe exposition, employeesfrom a cross-section of skills,who will pass out informationas well as anwer questions atthe Inco booths.

The volunteers have been

when ourpeople are too busy."Reg said that the overall

volunteer situation is over-whelming. "We are getting alot more volunteers than weever expected," said Reg. "Thepensioners' contribution is awelcome addition. It makes iteasier for the guys on the job,spreads the workload and gen-erally adds to the team spiritof the project.

"People are really buyinginto this thing," he said. "Onereason is because everybody'sbehind it, from Inco to theunions." He said Local 6500 isalso involved in the planningof the exposition as well asproviding volunteers for theactual event.

One of the pensionerscontinued on page 2

Changing focus togrowth : SopkoDetermined, candid,

confident and outspo-ken, Mike Sopko's

speech to shareholders at thisyear's annual meeting rangedfrom frankness about the con-tinuing poor nickel market toa bold determination in mak-ing the company grow in itsrole of industry leader.

"At Inco, it's been a longtime since we've talked aboutthe prospect for growth. Toolong, I think," said the chair-man and chief executive of-ficer. "It's time we got back tothe realization that as an in-dustry leader, growth is partof our mission and is essentialto the long term well-being of

Inca H.S.

Less Watt, Inco's new energy conservation mascot, was unveiledduring the Sudbury Wolves last home game of the season at theSudbury Arena. Less expressed a particular affection for nine-year-old Mathew Groves who won the mascot- naming contest. Mathewis the son of Paul Groves of Purchasing. The costume was designedby the mascot's creator Vic Therlault of Information Systems andfabricated by local artist Yvonne Morriseau.

Inco, its shareholders and that the company is not going production costs are lower atemployees." "to walk away from Sudbury. Inco's operations in Indone-While much of the growth "But the success of that sia. He was responding to ais expected to be outside operation depends on its cost query from retired IncoCanada, Mike emphasized structure, " he said, noting that continued on page 14

F Making Bacon-) c

Garson 's Back!

2 APRIL 1993

EDUCATION 61 INCO

Inco volunteers swing into action to preparefor Careers 2000 Exposition

continued from page 1

enthusiastic about the projectis retired Copper Refinery ana-lytical supervisor Jim Balleny.

" It's become apparent thatcareers and job success in the'90s and beyond will dependupon technical training andthe knowledge of workers," hesaid. " This event is amarvelous opportunity forSudbury District students tosee what is available."

The four-day exposition isbeing held to introduce stu-dents from all over the Sud-bury district to the opportuni-ties available in many fields.

Pensioner Jim Balleny, aformer analytical

supervisor at the CopperRefinery will share his

years of knowledge andexperience with students

at the Careers 2000Exposition.

eXpusitioi

a' Ik raa s QNorn^al^ hw ^K wHf e6e.tot^n etbroarel fu rR hre lfllnrd^^I --Ay g-r d &ah "ME* 4f &* cArwn Ms

E a Ldp c6ildraw^(ROM

Science NorthBell GroveArena

May 41b w Mh 1993 - gam to9pmWy 71h. 1993 - gam W 4o

ITS FREEIarwr ce000re cne bo kft to arrrrw

EZE

rooay, ydnn naeclo d.ws. cawrw w^wy to t ru^ae nrx dyr "Oftenpab..dS..«u1 +aRwILC+.`ih..l^ 17,er

YhA 'jl why to buen @_ ,,aw.r..WO.tibn. pw.rnrv+.^e andr^aw

FA,na^da of httrttr• un dfyr wF be

orgrrexaiKS i a.s V nod t aer^ msdto ^rw oppolrrlrr n asfefo►

S1xle'w n gratlu H to 11 Mam aagrM Sumcry urrn wr beuueed mVw

a1p^ ^iR II`er le1dMK.

Savor dtyt]e i sr c aarenWy^ulvaIle f1YMed to emend nn nfar Oyn i anydrnerctq 1YteW dilyi.

e

Inco pensioners have comeforward to join Inco employeesin volunteering for the Careers2000 Exposition from May 4 toMay 6. We asked why they foundit important enough to give uptheir free time to help out.

Gilles Beauparlant, re-tired tram crew, South Mine:"I want to help students real-ize the importance of obtain-ing a high school diploma inorder to expand their careeropportunities so that they maycompete successfully in thetechnological, highly competi-tive and ever-changing glo-bal economy."

Fern Benoit , retiredSmelter foreman: "I want tohelp the students to stay inschool to better their choice ofa career for the future. Theyhave to look today for tomor-row's future."

Louis Mourat , retiredsmelter foreman: "I think to-day's kids need to be aware ofthe industrial careers open tothem and of the change inindustry as well as the impor-tance of education to deal withthese changes. Education andindustry go hand in hand."

The Triangle 3

Co-op student Robert Bowd credits the Inco experience with avoiding a major mistake In planning his future career.

Inco program helps students make-career choices

Perhaps there's no one bet-ter able to demonstratethe value of Inco's Co-op

Student Program than Water-loo University student RobertBowd, but for reasons you mightnot expect.

Inco has helped the 22-year-old Lively native avoid a mis-take he might otherwise haveregretted all his life.

"The experience I've gainedin four work terms here hasbeen invaluable for anyone whowants to go into the computerfield," he said. "I've learned alot of things here that I couldn'thave picked up anywhere else."

Ironically, the most impor-tant thing the Computer Sci-ence student has learned here iswhat he doesn't want to do.

"I got out of (Lively) highschool with no idea what Iwanted to do. I was good inmathematics so I chose compu-ter science. With the experiencehere and at school, I've realizedthat this isn't what I want to dofor the rest of my life. My expe-rience at Inco has helped medecide what I don't want to dofor the rest of my life ... it'shelped me do a careerassessment."

He emphasizes that the de-cision is not a reflection of work-ing at Inco. "I've enjoyed theatmosphere here and it's beena worthwhile experience. I justdiscovered that I don't have theinterest in math and computersthat I had when I got out ofschool."

He's determined to completehis Computer Science degree,however, and hopes to comeback to Inco for the remainingtwo work terms. But if the op-portunity presents itself and the

money is there, he'll return toschool to get a degree in SocialScience.

Regardless of his future ca-reer, Robert feels the Inco expe-rience is an asset.

"Statistics show that employ-ers look more favorably on peo-ple who have previous workexperience. People in co-op pro-grams average about $5,000more on their annual salaries."

The obvious advantage isone reason the program hasbecome so popular. Although

versity.For Laurentian Mining En-

gineeririg student TammyLeeson, her first Inco work termhas made her even more confi-dent about her choice incareers.

"Even if I don't get an engi-neering job right away, I'd bemore than willing to take aminer's job if I was given theopportunity.

"I find the underground en-vironment challenging, differ-ent and exciting. There's always

ary on the first day, I was askedif I had my underground equip-ment with me because I wasgoing underground."

Since then, she's spent atleast part of every day under-ground.

"A lot of what I'm pickingup here would be impossible tolearn in a classroom. You canpick up a lot of things on yourown as you work and the peo-ple are eager to help you learnnew things."

In May, university and col-

Students work at Inco in four-month terms after which theyreturn to school. Students mayor may not return for subse-quent four-month work terms.Students work mainly in theEngineering, Computer Science,Environmental and Kinesiologyareas.

"I think the program has alot to offer, both for Inca andthe student, " said the program'sadministrator Helen Gordon."There isn't any doubt that thestudents do meaningful, valu-able and needed work,

"We are in a good positionto evaluate the student as afuture employee and the stu-dent is able to evaluate us,"said Helen. "More and moreeducational institutions are de-veloping co-op educational pro-grams. With its combination ofacademic studies and work ex-perience, the program has a lotto offer the students."

Yearly requirements at Incoare determined by manage-ment and filled through a for-mal process as established bythe company and the respec-tive university or college.

Students are hired to doproject-type work. A typical jobdescription could read: Underthe guidance and direction ofthe Plant Engineering Group,the candidate will be responsi-ble for design work involvingfield investigation proposals,design calculations, drafting,contract packages and commis-sioning. "The program is verypopular here," Helen said. "Weare getting a very high calibreof student. I don't recall gettinga single derogatory commentabout the program or thestudents."

South Mine planner Hank Haneberry and student Tammy Leeson look over somedrawings on the light table. "Underground," Tammy says, "is challenging,interesting and exciting."

fewer students than in the pastare accepted by Inco due to gen-eral downsizing, more univer-sities and colleges are partici-pating in the program that be-gan in 1965 at Waterloo Uni-

something new every day."South Mine wasted no time

in introducing the Webbwood(near Espanola) native to thejob.

"When I showed up in Janu-

lege students from Laurentian,Waterloo, McGill, Ryerson,Haileybury, Sault andFanshawe can be found at Incoplants and mines.

The program runs all year.

4 APRIL 1993

EDUCATION & INCO

Inco career information packageoffered to students

A career information package about opportu-nities at Inco has been prepared and will be partof the information available at the Careers2000 exposition in May.

The information package is just part of thesupport Inco and Inco employees have showntoward the exposition. More than 50 employees

and pensioners are volunteering their time andefforts to the event, which is designed to informstudents about the variety of careers in thetrades and the importance of education incareer planning.

The Inco outline includes:

OCCUPATION: WAGE RANGE: HOW MUCH JOB SECURITY IS ARE THERE OTHER OPPORTUNI- ARE THERE SAFETY HAZARDS?MILLING\SMELTING\REFINING Entry Level $38,000 Avg. $45,000 THERE? TIES IN CANADA? No - the same as any other office.Top Rate $48,000 Fairly stable for present employees Yes - all skills are readily transfer-

EDUCATION REQUIRED: - depends on the requirements of able. IS TRAVELLING REQUIRED?Minimum - Mining & Mineral BENEFITS: operations. No.Processing Certificate 1 year Medical, Dental, Vision Care, Life WHAT IS THE SIZE OF YOURPreferred - 2 year Technician or 3 Insurance. ARE THERE OPPORTUNITIES FOR STAFF? WHAT ARE THE COURSES Iyear Technologist CAREER ADVANCEMENT? Overall 7,000 This Segment 100 SHOULD TAKE?

HOW MUCH JOB SECURITY IS Definitely - through education and Communication - computer -WHAT IS INTERESTING ABOUT THERE? experience - depends a lot on the WHAT ARE THE WORKING keyboarding - business - math.THIS CAREER? As the technology of the workplace actual job. CONDITIONS? All careers at Inco require aContinually changing environment increases there is more demand for Variable - depending upon job commitment to Life Long Learning- the level of technology involved is highly skilled trades and many of ARE THERE OTHER OPPORTUNI- location and classification. in order to upgrade skills and stayincreasing all the time - creates a the core skills are transferable. TIES IN CANADA? in line with new technology.challenging workplace. Yes - demand is high across ARE THERE SAFETY HAZARDS?ARE THERE OPPORTUNITIES FOR Canada - skills are transferable. Possibly - requires training and

WAGE RANGE: CAREER ADVANCEMENT? safety programs. OCCUPATION:Entry Level $37,000 Avg. $43,000 Yes - there are opportunities for WHAT IS THE SIZE OF YOUR ADMINISTRATIONTop Rate $46,000 some people through education STAFF? IS TRAVELLING REQUIRED?and experience. Overall 7,000 This Segment 600 Not normally EDUCATION REQUIRED:

BENEFITS: College, plus experience, preferredMedical, Dental, Vision Care, Life ARE THERE OTHER OPPORTUNI- WHAT ARE THE WORKING WHAT ARE THE COURSES I University degree, plus experience.Insurance. TIES IN CANADA? CONDITIONS? SHOULD TAKE?

Most maintenance skills are Varies with job category and work Communication - business - tech - WHAT IS INTERESTING ABOUTHOW MUCH JOB SECURITY IS transferable to areas outside of location. math sciangsQtadxgd level THIS CAREER?THERE? Inco. for OAC. -'TTefe are a WI'c7e v tetyot AmainHard to say - this is dependent ARE THERE SAFETY HAZARDS? All careers at Inco require a istrative positions at INCO rangingupon changing technology and WHAT IS THE SIZE OF YOUR Depends on the job and other commitment to Life Long Learning from first line supervisor toworld economic conditions. STAFF? factors. in order to upgrade skills and stay President.

Overall 7,000 This Segment 1,800 in line with new technology.ARE THERE OPPORTUNITIES FOR IS TRAVELLING REQUIRED? WAGE RANGE:CAREER ADVANCEMENT? WHAT ARE THE WORKING Possibly - not normally. $40,000 to $100,000 plus.Opportunities exist for some CONDITIONS? OCCUPATION:employees through education and Variable depending upon the WHAT ARE THE COURSES I ADMINISTRATIVE SUPPORT BENEFITS:experience. processes and actual job location. SHOULD TAKE? Medical, Dental, Vision Care, Life

Communication - advanced level - clerks , stenographers, etc. Insurance.ARE THERE OTHER OPPORTUNI- ARE THERE SAFETY HAZARDS? courses aimed at OAC and yourTIES IN CANADA? Yes - requires attention to training career choice. All careers at Inco EDUCATION REQUIRED: HOW MUCH JOB SECURITY ISMany of the skills involved are and safety programs. require a commitment to Life Long Business College or equivalent. THERE?transferable. Learning in order to upgrade skills At the present time there are very

IS TRAVELLING REQUIRED? and stay in line with new technol- WHAT IS INTERESTING ABOUT limited openings.WHAT IS THE SIZE OF YOUR Possibly - but normally assigned to ogy. THIS CAREER?STAFF? single location. Varied - challenging - constantly ARE THERE OPPORTUNITIES FOROverall 7,000 This Segment 1,200 changing to keep up with new CAREER ADVANCEMENT?

WHAT ARE THE COURSES I OCCUPATION: technology. Yes, through continuing educationWHAT ARE THE WORKING SHOULD TAKE? ENGINEERING and experience.CONDITIONS? Communication.- technology - WAGE RANGE:Variable - depending upon the math - Community College EDUCATION REQUIRED: Entry Level $27,000 Top Rate ARE THERE OTHER OPPORTUNI-processes involved and the job Apprenticeship Preparation. All BSc. Engineering plus P.Eng. $40,000 TIES IN CANADA?location. careers at Inco require a commit- (minimum APO standing) Most skills are transferable.

ment to Life Long Learning in order BENEFITS:ARE THERE SAFETY HAZARDS? to upgrade skills and stay in line WHAT IS INTERESTING ABOUT Medical, Dental, Vision Care, Life WHAT IS THE SIZE OF YOURYes - this requires attention to with new technology. THIS CAREER? Insurance. STAFF?training, safety, etc. Varied disciplines - environmental,. Overall 7,000

mining, computer, robotics, design, HOW MUCH JOB SECURITY IS Administration: Less than 1,000IS TRAVELLING REQUIRED? OCCUPATION: mechanical, electrical, etc. THERE?No - normally assigned to one TECHNICAL (Various Areas) This is hard to say. With new WHAT ARE THE WORKINGlocution. WAGE RANGE: technology and computerization CONDITIONS?

EDUCATION REQUIRED: Entry Level $36,000 many of these positions within Inco Variable - depends upon actualWHAT ARE THE COURSES I Minimum Technician (College) Top Rate $58,000 are being phased out. job, location duties and responsi-SHOULD TAKE? Preferably A University degree in a bilities.Communication - technology - related discipline BENEFITS: ARE THERE OPPORTUNITIES FORmath - science. Medical, Dental, Vision Care, Life CAREER ADVANCEMENT? ARE THERE SAFETY HAZARDS?All careers at Inco require a WHAT IS INTERESTING ABOUT Insurance. Yes - through education and Depending on work location.commitment to Life Long Learning THIS CAREER? experience - normally advance toin order to upgrade skills and stay There are a wide range of jobs and HOW MUCH JOB SECURITY IS other areas. IS TRAVELLING REQUIRED?in line with new technology. opportunities available around the THERE? Depending upon position, not

world. Some examples are: Very good job security - this is ARE THERE OTHER OPPORTUNI- normally. The higher the positionGeological, includes mine survey- currently the only job classification TIES IN CANADA? the more travel may become

OCCUPATION: MAINTENANCE ing, Chemical Analysts, Computer in which Inco is actually recruiting Yes - mostly at lower wages than necessary.Systems, Metallurgical. at this time. we pay.

EDUCATION REQUIRED: WHAT ARE THE COURSES ICompleted apprenticeship. WAGE RANGE: ARE THERE OPPORTUNITIES FOR WHAT IS THE SIZE OF YOUR SHOULD TAKE?

Entry Level $36,000 CAREER ADVANCEMENT? STAFF? OAC level courses, good communi-WHAT IS INTERESTING ABOUT Top Rate $58,000 Yes - excellent opportunity to Overall 7,000 This Segment 100 cation skills are critical. All careersTHIS CAREER? advance into supervisory positions. at Inco require a commitment toVariety, challenge, continuous BENEFITS: WHAT ARE THE WORKING Life Long Learning in order tochange. Medical, Dental, Vision Care, Life CONDITIONS? upgrade skills and stay in line with

Insurance. Varied - depending upon the new technology.location of the workplace.

The Triangle 5

EDUCATION & INCO

Inco 's diversity a boon forhigh school program

To call Inco's involve-ment in the SudburyBoard of Education's

High School Co-op Educationprogram "appreciated" wouldbe an understatement.

"The advantage in gettinga large company like Inco onboard is in the wide range ofprofessions, trades and skillsthat make up the workforce,"said school board program co-ordinator Marjatta Longston."We've placed about 60 stu-dents at Inco since the com-pany came on board threeyears ago in areas such asengineering, chemical tech-nology, machine shop, elec-trical and plant protection.The diverse nature of the Incoworkforce is a real advantagefor us. The reaction from stu-dents and the company alikehave been very good."

Students usually spend halfthe day at school and the otherhalf at an Inco job site.

Used to be, said Ms.Langston, that the board hadto canvass industries and busi-nesses for student work place-ments. Today, more and more Machinist Charles Baird looks on as high school student Tim Tallevi makes an adjustment to the verci mill atDivisional Shops.

Julian "j.)." Bertrand (kneeling) checks out an electricalpanel under the watchful eye of electrical leader FrankHaner at the South Mine Electrical Shop.

industries and businesses callthe board about the possibil-ity of getting students.

"Inco's engineering depart-ment will call and tell us whatthey need. There are sevenstudents working there nowand we've already scheduledfour students for the next se-mester."

The success of the program,she said, is a two-way street."Not only do our students gainfrom the experience, but theycontribute their skills to thecompany as well."

She said the program isgrowing rapidly. This yearabout 1,000 students willparticipate.

While the actual hands-onwork experience is somethingthat the student can only getin such a program, she said,another major advantage isthe career evaluation by thestudents themselves.

"The students get a chanceto try out the career they havechosen. Many confirm theirchoice, but others change theirminds after the work terms.

"Some find that the field isnot for them," she said, "andthat's a very important lessonto learn."

But perhaps the most im-portant thing the student picksup on the job is the obviousneed of education, skills andtraining.

"We can tell them a hun-dred times to stay in school,that a good education is re-quired to get the good jobs,"said Ms. Longston, "but onthe job site they can see forthemselves."

Many students, after fin-ishing the work term, say thatthe experience has been thebest thing they've done in alltheir years in school.

Although 18-year-old Lo-Ellen Park student Tim Tallevihasn't made up his mindabout what career he wants topursue, the Divisional Shopswork term he's on has givenhim an insight on one of hischoices.

"You learn a lot more herethan at school," said the Sud-bury native. "I certainlywouldn't rule out being amachinist and I can't say forsure if that's what I want todo. I guess `maybe' is the bestanswer."

Tim said he's been giventhe opportunity to work onseveral of the shop's machines."People here are eager to helpyou," he said.

Lockerby Composite HighSchool student J.J. (Julian)Bertrand has been elbow toelbow with South Mine elec-tricians, an experience thathas confirmed his intentionto go into the electrical field.

"Being 19 years old, I getteased all the time," said J.J.,"but when it comes to helpingme learn, the people here aregreat. I can approach anyonehere and they'll tell me what Ineed to know. Sometimesthey'll ask me the next day,

just to make sure I know it."J.J. doesn't need to be con-

vinced about the need for aneducation, "I quit school oncealready and worked in con-struction. That made me real-ize that I need schooling inorder to get a worthwhile job.

"What this work term hasdone for me is to confirm myintention to go into the elec-trical field. I would hate to gothrough my entire schoolingand then find out the job's notfor me."

Although no statistics haveyet been compiled about thejob-seeking success of the co-

op student, Ms. Longston saidthere's every indication thatthe co-op student has an ad-vantage. "The word thatcomes back from teachers whotry to keep track of what hap-pens to their students indi-cates that about two thirdsfind work.

"This is definitely the waywe'll have to go in the future,"she said. "It's a partnershipwith educators, industry,teachers and employers work-ing together to see what edu-cation, skills and training areneeded for the next genera-tion of employees."

In keeping with the Careers 2000 spirit. the Copper Cliff Smelter helped outa College Notre Dame school prolesi by taking 15 Grade 13 students on a tourand gave them an an informative presentation and film at the Smelter Pasilion.The students' project involves inro's Sudbury operations. While such tours rifplants and mines can't be made on a regular basis , special arrangements areperiodically made to help students and educators understond the industry. Withthe students on the farleft is Bill Dopson , superintendent of Administration andSulphur Products.

6 APRIL 1993

EDUCATION & INCO

First female graduates First LineSupervisor course

Senior claims administra-tor Janet Wyman be-came the first femaleemployee to go through thecompany's First Line Supervi-sors' course, an experience shewouldn't have missed for theworld.

"It changed my life," shesaid. "It was eye opening towork with people from all overthe Division, people from themines and other operations.It's interesting to see what theirlife and their work is like."

Janet is one of more than100 graduates of the intensivecourse conducted by Inco inpartnership with CambrianCollege.

The classroom and in-plantpractical training earns thegraduate a certificate from theMinistry of Colleges and Uni-versities.

"I learned a lot, not onlywhat was taught but what Ipicked up from others on thecourse. I made a lot of newfriends while on the courseand I learned a lot from them."

She expected ... and got.no special treatment as the

only woman on the course. "Iwas treated like everybodyelse," she said "and that's theway I wanted it. Nobody didme any favors. I'm confidentthat I graduated on my own

abilities."Not that she wasn't nerv-

ous when she began thecourse. "On the first day whenyou start something new,there's some nervousness, butafter a few days I got alonejust fine. The guys on thecourse not only accepted me,but they treated me like afriend."

She found the public speak-ing portion of the course par-ticularly rewarding. In fact,she said it changed her life."Intimidated by an all-maleaudience? Not really. I don'tthink it would have been anydifferent if it was an all-fe-male audience."

Another valuable segment,she said, was the informationshe picked up on how to dealeffectively with people. "If Iever become a supervisor, thisinformation is going to be in-valuable to me. But whetheror not I get to be supervisor,I'll be able to use what I'velearned in my daily life indealing with people. We allhave the opportunity to im-prove our human relationsskills every day."

Janet wants to be given theopportunity to use what she'slearned. "I want to be givenan opportunity to show whatI can do as a supervisor, to be

First Line Supervisors course graduate Janet Wyman gets her certificate and a warmhandshake from Human Resources and Administration vice-president lose Blanco.Janet Is the first female employee to go through the course.

able to use what I've learned.It would be a waste if Incogave me the training but didn'ttake advantage of it."

In fact, Janet was actingsupervisor about two yearsago, but when the time camefor the permanent appoint-ment she was passed over for

lack of training."I was like a fish out of

water," she said, "but now Ifeel I could handle it."

She'd like to see morewomen on supervisorycourses, but she feels that ifthe issue is pushed, it won'thappen the way it should. " It's

going to come with the grow-ing mutual respect betweenmen and women. Thesechanges will come automati-cally, but it'll take time.

"The time will come," shesaid, "when people will be rec-ognized for what they can do,not who you are."

Supervisors course emphasizesbrains, not brawn

I fthe challenges facing Incoare to be overcome, it'll bethe knowledge, trainingand innovation of its employ-ees which will put the com-pany over the top.

"The challenges in our fu-ture will be conquered bybrains," Human Resourcesand Administration vice-presi-dent lose Blanco told a groupof graduates of Inco's secondFirst Line Supervisors course.

He told the more than 50graduates that learning newways of doing things is per-haps one of the most impor-tant components of a success-ful Inco team.

"The greatest investmentyou ... and Inca... can evermake is in development ofyour brain," he said.

Graduates were told thattraining, education andadaptating to new ways oflooking at problems is evenmore important "when timesget tough. The leaner we get,the more important trainingbecomes," said lose.

He said the overall culturehas to change for employeesat all levels, including man-agement. "We're not talkingabout eliminating supervisors,but a major role change forthem," he said. "Teamwork,quality, they all boil down to

one thing: change will hap-pen and will be a constantthing. Some things we've cometo expect in the past such ashealth care and a good edu-cation all have a price. Ouronly advantage is a good edu-cation that gives us the abilityto change, to be flexible. Youare on the leading edge ofthat change," he told thegraduates.

The recent ceremony bringsto more than 100 the numberof graduates of the intensivecourse that includes six weeksof Inca classroom training fol-lowed by four months of in-plant practical experience.Upon completion of a furthertwo weeks of classroom train-ing, the participants receive acertificate of graduation fromthe Ministry of Colleges andUniversities.

Subjects covered rangefrom leadership, motivationand communications to hu-man rights and decisionmaking.

With a good number ofgraduates in the field, Inco'straining department is usingthe opportunity to do an in-depth analysis of the resultsand effectiveness of thetraining.

"We want to get feedbackfrom the candidates, to

Marc Bidal was one of more than 50 people to graduate from the second First LineSupervisors course . He is seen here getting his certificate from Human Resources andAdministration vice-president lose Blanco.

find out ways we canimprove the training," saidTraining supervisor KarenDeBenedet.

She added that about 30per cent of the graduates arenot currently functioning in asupervisory capacity and theplanned program assessment

will provide an opportunityfor them to gain leadershipexperience.

The Training departmentis developing a computerprogram that will allowmanagers to access a list ofpeople available to them whohave taken the first line super-

visors program but are notworking in that capacity.

"Managers will be able to'plug in' to more of theresources available to themwhen needed, providingmore opportunities for gradu-ates to gain experience," saidKaren.

The Triangle 7

L

8910 11

Sally Maki had a little trouble getting her rock past the hogline . Note the pigs onthe sweater.

Sally curls six pigs, earns pork roastGuest curler Sally Maki

doesn't want to see another pig for a while!

Afterthe Inco safety and plantprotection department'sbonspiel she has had her fill ofthem.

As part of the fun tourna-ment, curlers who were un-able to throw their rock pastthe hogline received a paperpig's head to wear on theirshirt. After three games Makihad collected seven pigs andwas awarded first prize at theend of the evening - a porkroast.

"I'm very proud of mypigs," she laughed. "Eventhough we lost I still won some-thing."

Sally played alongside herson Calvin and brother Incopensioner Albert Manninenand his son Gary at thebonspiel. About 48 Inco em-ployees and their spouses par-ticipated in the department'sfirst bonspiel.

"We're all here to have fun,it's not much of a competi-tion," she said. "It is nice tomeet the people that I workwith over the telephone inperson."

Chico Rodrigue, one of thebonspiel organizers, said hewas pleased with the turnoutat the recent competition.

"Hopefully this will becomean annual event," he said."In the past year we have heldour first golf tournament andwe're considering holding abowling tournament."

It isn't always easy accord-ing to Rodrigue for people toparticipate. About 50 per centof the people in the depart-ment are working at any giventime.

"The main reason why wehold these tournaments is sothat people can meet eachother socially," he said.

Nancy Rebellato couldn'tagree more with Rodrigue. "Ijust started in this departmentabout two weeks ago and Ithink this is a great way tomeet people and get to knowthem outside of work."

Plant Protection on guard First prize went to Lenfor the next rock . At left Leclair's team which includedis Len Leclair. At right is Sue White, Brian Riajala andpensioner Albert Nancy Rebellato for the mostManninen . points. Some of the many

prizes included blenders, cool-ers and workboots. No onewent home empty handed.

8 APRIL 1993

Geologist at the right place and timefor Garcon Mine projectGeologist Stephen Ball

figures he was theright person, in the

right place, at the right time."This is the kind of experi-

ence I couldn't hope to getanywhere else," said Stephen."I don't know where last yearwent, that's the kind of yearit's been."

just a little more than 10years out of school and aftercutting his geological teeth inSouth African gold mines andin a small mining project inRed Lake, Stephen feels it wasgood luck that brought him toInco in time for the Garsonproject.

"The advantage in a pro-ject like this one is that you getinvolved in all aspects of themine, you get in on the groundfloor, so to speak. You're notstuck behind a computer or adrafting board all the time.

"It was quite challengingand exciting, and now thatit's been approved, it's all beenworthwhile."

In only his fourth year atInco, Stephen provided geo-logical services for the Garsonproject which included evalu-ating the diamond drill holedata to calculate grades forthe mining blocks.

He also spent considerabletime underground. "We as-sessed the existing ground con-ditions and support require-ments and identified poten-tial problem areas. We lookedat inventories of machines,assessed the extent of slimesand water underground andneeded pipe work for air and

water lines." Stephen figuresonly about 50 per cent of histime was he working strictlyas a geologist. The rest hasbeen spent working at otherjobs.

"In short," he said, "I'vehad a chance to get involvedin just about every aspect ofthe mine and it's been a greatexperience."

As one member of an Incoteam which included engi-neers Wally Dittburner (nowretired), Tom Ryan and MattiJousi, Stephen said it was theteam effort that made theplanning successful.

"There were good peopleon the team and weworked well together. Thatcontributed to the project'ssuccess."

While the plan has beenapproved and full operationsare scheduled to resume atGarson in 1995, Stephendoesn't doubt that there willhave to be some minor adjust-ments made.

"Even the best plans de-mand adjustments as you go.We were conservative and ifwe erred, it was on the side ofcaution. I'm confident that wecan improve on the plan aswe go.

"Now we're at the pointwhere we actually start theproject. You feel a certain re-sponsibility when you're in-volvedfrom the start. The tricknow is to make it work andkeep control of the costs.

"That could turn out to beeven more challenging," hesaid.

Geologist Stephen Ball considers himself lucky to beinvolved in the Garson project . He's seen here away

from his computer, examining the paste fill that will beused to backfill Carson stopes.

For Garcon Mine PPO, happy timesare here again

times, PaulPrudhomme's work hastbeen n that of a hermit,

but today he's expectingcompany.

A flood of friends."This used to be a booming

place at one time," Paul musedas he leaned back in his swivelchair and scanned his nearlylifeless surroundings at theGarson Mine gatehouse.

A plant protection officerat Garson, he's been at thisthe post here since 1975, in-cluding the period of the so-called "closing."

"Actually, there were al-ways people around, evenwhen the underground opera-tions stopped," said Paul, "butsometimes it got down to justa few people and I hardly sawanybody all day. It got to be apretty lonely job at times."

With the announcement of

a $40 million investment overthe next two years to preparefor the resumption of full op-erations at Garson Mine in1995, Paul expects the specialGarson atmosphere will re-turn.

"I figure a lot of the guyswho worked here before willreturn," he said. "There wasalways a special atmospherein this place, kind of a familything. People from Garsonwere proud of where theyworked."

No new mining jobs will becreated when miners resumehauling ore from under-ground, but the operation willensure jobs for 179 employ-ees, most of them now atFrood.

"I know a lot of the peoplewho were here before want tocome back," he said, "and it'sgoing to be great to see "There 'll be some life around here again."

Carson plant protection officer Paul Prudhomme:

familiar faces again. I'mlooking forward to it.

"It'll be great to have somelife around here again. This ishome for me."

A major 15-month devel-opment and rehabilitationprogram has begun at Garsonto prepare for the resumptionof underground mining.When full operations resume,about 9,000 tons of ore perday will be produced for aboutnine years. The mine has fur-ther reserves of 14.7 milliontons of higher grade ore thatcould provide at least another20 years of productivity.

Ore from Garson, one ofthe higher grade ore bodies inthe Sudbury region, will re-place production from othermines now near the end oftheir life spans. The move willnot add nickel to the burgeon-ing worldwide inventories.

The Triangle 9

fh'CrieJ

At a Copper Cliff Club press conference , Frood -Stobie-Carson Complex manager Fergus Kerr and vice-president of mining John Kelly announce plans tobring Carson to full operations

Carson Project Manager Jim Thomson with some of the many reports and studies carriedout to ensure a safe mining plan.

P&L

A truck removes ore via the ramp atCarson Mine. Small bodies of oreaccessible by ramp were mined here foralmost the entire time the mine wasreportedly "closed."

A portable crushing plant crushes the smallamounts of ore mined at Carson.

Four separate independent expertsverify Garcon mining plan

The piles of reports, stud-ies and approvals onJim Thomson's desk

would convince even the mostcynical that safety was Inca'shighest priority before resum-ing full operations at GarsonMine.

"I'm confident," said theproject manager, "that we'vedone and redone all that wecan."

No wonder he's confident.After engineers; geologists

and consultants submitted a$40 million plan to resumefull mining operations atGarson, Inco sought out nofewer than four separate inde-pendent authorities to verifyits own endorsement of theplan.

"Two geotechnical compa-nies came and looked at ourplan and gave us a vote ofconfidence," said Jim, "andthen we went to the Ministryof Labour to look at the planas well."

For an academic review,Inco approached Dr. PeterKaiser of the GeotechnicalResearch Centre at LaurentianUniversity.

One of the highest gradeore bodies in the Sudbury re-

gion, Garson Mine ceased fulloperations in 1986 because ofsafety problems created byunstable rock conditions.

"To say thatwe closed downhere would be incorrect," saidJim. "Garson shipped ore everyyear since 1986. We contin-ued to mine small ore bodiesclose to the surface that wereaccessible from the surfaceramp and I'd say an averageof about 40 or 50 peopleworked here most of the time."

In fact, Garson was thescene of a unique two-yearcrown removal project thatsaw 130,000 tons of high gradeore removed from a man-made crater the size of 15 foot-ball fields while millions ofgallons of water were pumpedout of the ground faster than itcould seep back in.

The "crown" or surface areaore of the 10.2 orebody was allthat remained after under-ground mining was com-pleted.

Reclamation efforts havecompletely rehabilitated thesite, and today it resembles apark complete with high greengrasses and a small lake that'salready home to a flock ofCanada geese.

But before resuming anunderground operation thatwill employ about 179 peopleand produce 2,000 tons of oreper day for nine years follow-ing the scheduled 1994 re-sumption of mining, Incowanted to ensure that con-cerns about mining the re-puted unstable rock condi-tions had been settled.

While safer bulk miningtechniques, improved blast-ing and ground support meth-ods as well as the use of high-density paste fill will alleviateground control problems, thebiggest improvement is in themining plan itself.

Previous mining opera-tions at Garson were in themiddle of the ore body whereminers removed ore by mov-ing along inside the length ofthe narrow, horizontal "slice"of ore.

It is the ore itself that rep-resents the unstable groundconditions at Garson, said Jim,and a better way had to befound to get the ore out.

The most crucial factorworking underground is time,said Jim. "Ground instabilityis directly related to the timeyou spend in the underground

opening. The less time in anopening, the less hazard. Theold method meant workingfrom inside the orebody allthe time."

The new mining plan callsfor a different method of re-moving the ore. A haulagedrift running the entire lengthof the orebody will be devel-oped in the more stable, adja-cent rock. Multiple short cross-cuts driven from along thelength of the haulage drift willapproach stopes in theorebody from the side, muchlike sawing a log into sections.

Not only will the stopes bemuch smaller, they'll be openfor much shorter periods oftime. Once each "slice" of theorebody has been removed,the stope and cleared sectionof orebody will be backfilled.

"It's not a new method,"said Jim. "It generally takesmore capital to implement,but today's improved miningtechniques and equipment,coupled with the high gradeore, will more than make upfor the difference."

Not only will the stopes bebackfilled quickly, but thebackfill will be much strongerthan the usual mixture. Called

'paste fill', the toothpaste-likemix of water and solids has adensity of about 85 per cent.

"A mix of less water andmore solids does the trick,"said Jim. "It'll give a muchstronger material to workwith."

Advances in seismic equip-ment will also be used to moni-tor the Garson rock.

"Here the hazard has beenrockfalls," said Jim, "andthat's directly related to theamount of time miners spentin the orebody before. Withthe new mining plan, itshouldn't be a major prob-lem."

Nevertheless, measuringdevices will be installed toshow the amount of groundmovement.

"That should give somewarning about any increasein hazard," he said.

An expanded system ofroofbolting and screening willbe employed as well.

"We'll be doing the boltingall the way to the floor, andnot just the shoulders and theroof," said Jim. "Gradual wearof the walls here creates prob-lems, so the extra boltingshould help control that."

10 APRIL 1993

Ontariominersset safety record

igures released': by theMines Accident Preven-tion Association of Ontario (MAPAO) reveal that in'F ; 11 " ^1992 the Ontario mining industry achieved the

lowest injury rate ever ri•c.ordedl in is history;The frequency rate of total injuries, requiring medical

attention dropped 9.per Cent to. 15,5 injuries per 200,000employee hours ; TZae' previous record was 16.8, set in1989: The rate 0ii n j in,, resulting in time lost from workfell by 23 per cent to l-:S eel p'.irtiy.'u rec ord also set in 1989.There were two fatitlitivs in ,the iEtdustry last year, thefewest ever- The previous lowest number of totalities wasfive in 1979.

Dave Mellor, the Labour Vice-Chair of MAPAO, said"Our record last year show ;that our goal of zerofatalitiesis: not only realist'ic, but isachievubie in the very nearfuture, hopefully this year,". Ron Ellis, the ManagementVice-ChairofMAPAO, uttrihuted the new safety records to

the cau' ni eni of the workplace parties to continu-)t_,, improvement in health and safety. The mining indus-

ti,v has been a;'leader in terms of co-operation betweenmanagement and labour;where safety is concerned andwe intend to continue to i,ead

Six of the seven WCbirate yroups'that compose thein ir rig Sector reduced their rate of total injuries in 1992.All seven improved the .rite of lost-time injuries. In addi-tiun,the actual number of work days lost declined by 60der i cot; "'indicating that the severity ofznjuries also decreased significantly.

Employment in the mining industry fell by 10 per centin 1992- Ac cording to Mr. Ellis, this might have had some

poet on the injury rate us the remaining workers areMore experienced and hence less likely to be involved inaccidents.:However , he also pointed out that the previousyear set; a record for the ' amount of health and safetytraining conducted by MAPAO and that this training mayalso have bean signiti(,unt factor in reducing accidents.NIt's,hard,to measure exactly the extent to which each ofthe variousfactors contributed to the improvement; but inthe send it a i comes down to commitment and co-opera-ban,

Mr. Mellor added, 'You only have to look at the safetyrecords of the vario companies to see which ones aretruly, committed and which ones aren't. Our job is toencourage that commitment from every mining operaban in the province and to provide their joint Health and

fetyCopimittees with the help they need to achievetheir goals."

Employee ideas,su99estionsj comments

requestedThe emphasis at Inco is to come up with ideas that improve everything

from safety and quality to productivity and the environment. Those mostqualified to come up with these suggestions and ideas are our employees,and the Total Quality Improvement teams are asking for their help. Hereis a list of TQI contact people at mines, offices and plants around theDivision, along with an invitation to call with any comments or suggestionsyou may have.

Name

Don CampbellPaul CampbellLarry CochraneBill CookTom CorkalSteve DeightonUgo DorigoClaude GravelleFrank GrieveGraham HodderJack KennyJohn LemonBob KerrBill KipkieJohn LafleurWayne LeavoyRick LebourqueTerry McKenzieRon QuenvilleGerry RancourtBob ReybumJerry RogersSean RomencoRay SassevilleDon StewartScott StewartStewart TaitPam TobinWalter UkrainecPaul Yearwood

Time is roar rev.You've probably heard this cliche many times in your life. The

Material Avuilubility continuous Improvement Team in Divisional Shops isworking at saving time to save the company money. When u re-order pointis broken, the purchasing department supplies a work order to Div Shops toproduce the necessary items. The team analyzed the length of time that ittakes to process a work order. Their findings showed thut improvements wereneeded.

Team members are machinists Hubert Seguin, Ron Menard and BobSimon, c=entral Maintenunce Manager Al Cruthers and planner NormBelanger. Streamlining the flow of work through the shop was identified usu necessity to improve turnaround time. This will be dune partially by havingone person responsible for processing the work order. Also, to allow the speedat which a lob proceeds in the machine shop itself to increase, the teamdecided to mainstream warehouse work orders. This allows a job to continu-ally flow from one load centre to (Another. Paper shuttling and handling wassubstantially reduced. It is hoped that with the decreased turnaround timemore work can be brought into the shop.

The Steering Team, especiully general foreman Willy Metson, fullysupported the team's efforts and offered to help implement the recommenda-tions. Keep up the progress.

Awareness Tour '93 ... The Ore Flow Team and the CRC Repairable Team

682-6424682-5370682-5201682-5498966-4410682-6170682-6944682-5231682-5498682-6344682-5751682-5562525-3101682-5899682-5241682-7326682-5331682-5189866-3792682-53601-333-6224682-5204682-6766682-6404682-6404692-2300682-5379682-5176682-5441682-8226

Area

Quality & TrainingInformation SystemsMines Technical ServicesLegalColeman MineCentral Mtce.Copper RefineryCITHuman ResourcesEngineeringCentral Process Tech.Central Process Tech.Frood Stobie ComplexCentral Process TechAccountingNickel RefineryCopper Cliff Mines/ResearchCentral MillsCrean Hill MineC.I.TPort ColbornePublic AffairsC.I.T.TransportationSmelterCreighton MineC.I.T.Occupational MedicinePurchasing/WarehousingSafety , Health , Environment

is in the midst of conducting tours to inform the heavy equipment mechanicsof Inco of the potential savings that can be found in the urea of repairableitems. Daily tours are currently being conducted and will continue until allInto personnel that deal with repairuble items have taken the awareness tour.

The tour consists of a short presentation at the home plant, then the grouptravels by van to Divisional Shops. While at Div Shops the groups are takenthrough warehouse 64, the Component RepuirCentre (CRC) and the MachineShop where they learn the repair route of an item. After an item has beentugged underground for repair by in-house Scrap in the Muck teams, it goesto surface where it is sorted and is sent either to the vendor or to Div Shops.This sounds simple, but complications often occurwhen an item is improperlytugged or not tagged at all. This is the message that the Ore Flow and the CRCRepairable Teams are hoping to give to all of the tour participants. Anotherproblem is that broken parts sometimes end up in the ore-pass (scrap in themuck) or buried in the sundfill. The teams wish to thank all those involvedand look forward to seeing them on a tour...

Closing the Loop... Continuous Improvement members move on to sharethe word about teamwork. Richard Marois heads buck to Transportation.Sandy Roberts moves over to General Engineering.

Rodney Shewchuck is now working with Geist on Maintenance Systems.To these people who are leaving the CIT, thanks for all the hard work andcongratulations for a job well done.

s

The Triangle 11

RPI ^ a M 06.4 t eqm_i d

Low-cost Little Stobie radio systemhas high-value advantages.

i i" F'. _ , it M ` `

=1 POMMMENEWNANN

TOATTACHED

FENCE

WA, ELECTRIC CABLE

N:_

Florian Rainville and Mike, Demers stand beside ,* section of the2 .1 km looped cable aerial forthe underground communications system.

J ust about everybody at Lit-tle Stobie is taking an ac-tive part in trying toextend the life of the mine byfinding ingenious ways to cutcosts while boosting produc-tivity. Spending here is donein the same innovative fash-ion.

There's no better examplethan the mine's new commu-nications system. By combin-ing energy savings with theinstallation of a new bargain-basement Personal EmergencyDevice system, the mine willmeet safety requirements, en-hance efficiency, save a bun-dle in energy costs and earn ahefty Hydro energy rebatecheque.

Bottom line?The system will pay for it-

self in about 18 months.With safety a first priority,

the mine needed an effectiveway to keep in contact withpeople working underground,often by themselves. Under thecompany's policy, a personworking alone undergroundmust telephone or radio in atleast once every two hours.

Existing systems used atsome other Inco mines, suchas the hand-held radios andelaborate systems oftransmis-sion lines run underground,were much too expensive andhard to justify with the rela-tively short life expectancy ofLittle Stobie.

Little Stobie's PersonalEmergency Device (PED) is apaging system that transmitsmessages without cables froma single surface aerial to port-able receiving units under-ground. Messages are typed

into a personal computer andthen sent by transmitter in theform of low frequency electro-magnetic waves via a 2.1 kilo-metre looped aerial on sur-face to 32-character liquidcrystal screens on under-ground receiving units thatattach to lamp battery packs.To ensure that the person car-rying the unit is aware of theincoming message, the unit ishooked into the battery packand causes the lamp to flashon and off when a message isbeing received. The unit actsonly as a pager and does notallow two-way communica-tions. The system is used inconjunction with the mine'sexisting .telephone network.Once the message has beenreceived, it's up to the indi-vidual to go to the nearesttelephone and call in.

Each of the 19 receivingunits can be contacted indi-vidually or all units can becalled as a group.

Using the system to triggerunderground auxiliary venti-lation fans and other electri-cal devices such as pumps andlighting circuits has meant areduction in energy costs,earning the mine a $20,000Hydro energy conservationrebate.

Easy and inexpensive toinstall, the system can be justas easily moved. About 90 percent of the system is salvage-able.

It's the first of its kind forInco and only the second PEDsystem operating in Canada.The system is in wide use inAustralia.

As well as enhancing the

s^:4 ,ue

.cam •@

Operating shaft boss Bob Banks gets ready to enter a message into the computer,the first stage in Little Stobie 's new underground communications system.man-working-alone policy,the system vastly improves themine's regular communica-tions as well. All mine fore-men, shift electricians, drillfitters, heavy duty equipmentmechanic leaders as well asanyone else working alonecarry the units.

"My job is to keep track ofthe people who are workingalone underground," said op-erating shaft boss Bob Banks."We usually have aroundthree working alone at anyone time and the systemmakes my job a lot easier."

Hoistman Ashley Comeaufills in on afternoon shift. "Be-

fore you relied on the guys tocall in. If they didn't phone inyou had to scramble to findsomebody to check on them.There was no way of knowingif the person was pinned un-der a piece of rock or if theywere in some other kind oftrouble or just forgot. Some-times you couldn't get a holdof anybody else to check onthem. It's taken as long as anhour to get a hold of some-body using the old telephonesystem. It was frustrating."

In-the-hole driller FlorianRainville said the new systemprovides an added sense ofsecurity for people working

In-the-hole driller Don Rivet often worksalone . He holds a cap lamp battery with thePED attachment.

underground. "You know thatif you can't reach the tel-ephone, they'll send some-body to check."

Shift boss Mike Demers saidthe system is a big help in hisjob.

"Within minutes they canget hold of me so I can re-spond right away to any prob-lem. That's vital in an emer-gency situation, but the im-proved communications alsomakes the operations heremuch more efficient."

But on days Mike receiveslots of messages, he refers tothe system as the "PestSystem. "

12 APRIL 1993

Inco chairman outlines major accomplishmentsby Inco in the face of economic gloom

Ladies and gentlemen, I wouldnow like to offer some com-ments on Inco's results and

prospects. After I have completed myremarks, I will ask Scott Hand todiscuss the growth opportunitiesavailable to Inco as we look beyondthe immediate future, as well as the.important changes taking place inour alloys business. We will thenopen the floor to your questions.

As you know, 1992 was a chal-lenging year for Inco. Reflecting lownickel prices, your company incurreda net loss, its first in eight years. Asnickel prices fell, we worked evenharder to reduce costs and conservecash. We took many actions, includ-ing reductions in capital expendi-tures and common dividends as wellas curtailing production. We alsoturned the corner in terms of unitproduction costs, reducing the unitcosts of our Canadian primary met-als operations by five per cent fromthe 1991 level. As a consequence ofthese and other actions, we were ableto reduce debt by $129 million in1992, a noteworthy accomplishmentin light of the continued low price ofnickel.

Over the years, as we have to-cused on productivity, we have alsobeen relentless in our pursuit of safetyimprovements. Safety and produc-tivity go hand in hand. Processes andtechniques that are more productive,such as those employing new tech-nology, are also inherently safer. Theoverall safety performance of ouremployees improved again in 1992.However, I am deeply saddened tonote the death in October of RobertWilliams in a railyard accident at theClarabelle Mill in Sudbury.

Fatalities in the workplace areabsolutely unacceptable. We can-tinue to seek a total quality opera-

tion characterized by zero accidents.Yesterday, we announced our fi-

nancial results for the first quarter of1993. Inco had a net loss in the quar-ter, due mainly to an after-tax chargeof $14 million in our alloys businessand to the low level of metal prices;however cash flow remained posi-tive, and our unit cost of nickel pro-duction was reduced by 13 per centcompared to the first quarter of 1992.Cost reductions are being achievedthrough more productive mines, im-plementation of new processing tech-nologies and employment and othercost reductions. Costs are also beingaided by the weakness of theCanadian dollar.

Given the productivity improve-ments and cost reductions alreadybeing achieved, we anticipate thatInco could break even in 1993 at anaverage realized nickel price of ap-proximately $3.00 per pound. Thiscompares with a breakeven price ofsome $3.25 per pound in 1992. 1want to make clear that these figuresare not our cash production costs fornickel, but take into account pricerealizations on our other metal prod-ucts, the performance of our alloysand engineered products businesses,interest charges and other factors.

Currently, the cash nickel priceon the London Metal Exchange isabout $2.66 per pound, which is be-low our projected breakeven price for1993.

However, there's an interestingtwist. At low nickel prices, Inco's av-erage realizations actually exceed theLME price by approximately 20 to 25cents a pound. So when we say thatInco can break even at an Inca aver-age realized price of approximately$3.00 a pound, we believe we canachieve those realizations when theLME price is only $ 2 .80 a pound.

That distinction is very important,because it enhances Inco's stayingpower, relative to its competitors, atlow LME prices.

Our average price exceeds theLME for a number of reasons, includ-ing price floors in some of our salescontracts and the premiums we earnon sales of proprietary, value-addedproducts. Conversely, at high LMEnickel prices, price ceilings in our

Michael Sopko

contracts will be triggered and ouraverage realizations could be lowerthan the LME.

So, despite a difficult nickel mar-ket environment, Inco is in the fa-vourable position of earning a pre-mium price for its nickel and achiev-ing steady reductions in its costs. Inother words, we are well positionedto benefit from any increase in thenickel price - and, meanwhile, wecontinue to drive down our costs inordertoassure inco'sviabil yevenlf,low nickel prices should persist.

Although nickel demand remainsquite healthy, the market continuesto be afflicted by over-supply.

Toward the end of last year, someproducers, including Inco, an-nounced production cutbacks. Theseactions have mitigated the oversup-ply situation, but of themselves havenot been sufficient to bring supplyand demand into balance. Unlessdemand improves, as forecast, in thesecond half of the year, further pro-ducer cutbacks may be necessary tobring the market into balance.

Importantly, Russian nickel ex-ports continue to overhang the mar-ket like a cloud, creating uncertainty.Two years ago, in 1991, Russian nickelexports increased by some 60 millionpounds, contributing to a small sup-ply surplus in that year. Then in1992, we saw the emergence in ourmarketplace, of fabricated nickel-bearing "scrap" -and let me putquotation marks around the word"scrap". Certain stainless steel millsand alloys plants in Russia, as well asin other C.I.S. countries, were pur-chasing Russian nickel at low domes-tic prices, reprocessing it and sellingit on the world market as so-called"scrap," thus raising hard currencywhile circumventing the Russian ex-port tax on primary nickel.

Not only have these exports dis-rupted the world nickel market, theyhave also short-changed the Russiannation itself of desperately-neededrevenues that could be derived byopenly selling the same nickel inprimary form at world prices. Someknowledgeable scrap traders as muchas 60 million to 80 million pounds ofnickel in secondary forms reachedthe West from Russia in 1992, equiva-lent to the output of a major opera-tion suchasl'.T, Ineo,.ourproduction,facility in Indonesia.

We cannot tell the Russians howmuch nickel to produce or how muchto export. That's theirbusiness. How-ever, we hope they will recognizethat such "backdoor" practices addconfusion to the market place, hurt-ing them and us - and, I might add,causing some concern among nickelconsumers, who generally prefer sta-ble markets and assured sources ofsupply.

Fortunately, there are some signsthat the Russian authorities have rec-ognized the problem and are takingmeasures to abate such practices.Already this year we have seen somereduction in the flow to the West ofboth primary and secondary nickel-containing materials.

Now let me turn to Inco and ourposition in the nickel industry. Asyou know, we have worked hard inrecent years to achieve a 25 per centshare of the global nickel market andat the same time to assure customersthat Inco will continue to be a reli-able supplier. We intend to maintainour market share. Given the oversup-ply that currently exists, we are pre-pared to play an appropriate role inaddressing the problem. However,although we have a 25 per cent mar-ket share we are not prepared to takethe full brunt of necessary produc-tion cutbacks for the entire industry.We will continue to produce at levelsessential to satisfy our customers'nickel requirements.

I would now like to turn to amuch more exciting subject, and thatis "growth". At Inco, it's been a longtime since we've talked about theprospects for growth. Too long, I think.It's time we got back to the realiza-tion that as an industry leader growthis part of our mission and is essentialto the long term well-being of Inca,its shareholders and its employees.

Inco president sees bright nickel liningin today's dark clouds

Four years ago, Inco an-nounced a strategic plan thatincluded a fundamental de-

cision to stick to what we know best- mining and metals. Our goal wasto do all we could to realize the fullpotential of our core businesses.

We continue on that course to-day. As we look for opportunities togrow, we believe we can find themright in our core businesses. In par-ticular, we see a bright future fornickel, as it continues to capture newmarkets despite competition fromother metals and materials.

Some 60 per cent of nickel is con-sumed in the manufacture of stain-less steel, a versatile material whichis finding new and expanded appli-cations in markets ranging from con-struction to environmental control.

We also see excellent growth po-,tential for specialty nickel productsin such markets as rechargeable bat-teries and electronic materials. Andapart from market growth in tradi-tional nickel-consuming regions ofthe world -- that is, the United States,Europe and Japan - we see verystrong growth prospects in newly in-dustrialized countries such as Tai-wan and Korea and in emergingeconomies such as China andIndia.

Overall, we expect nickel demandto increase at an average annualrate of approximately three per centin the coming years. So the nickelmarket is going to get bigger, andInco intends to expand, with themarket. Given our current sales ofapproximately 500 million poundsof nickel annually, and assuminggrowth in demand of three per cent ayear, we should add some 15 millionpounds of new nickel capacity eachyear, on average, just to hold onto

our market share. Looked at anotherway, we need to add 100 millionpounds of new capacity every six orseven years - roughly the equiva-lent of our Manitoba Divisionoperation.

Plans are under way to developthat capacity. In Canada, we face amajor challenge to sustain our exist-ing capacity. As older mines are de-pleted, we are developing new Cana-dian mines that utilize the mostmodern technologies to enhancesafety and productivity. Just twomonths ago, we announced plans tospend $32 million to reopen thehigher-grade Garson mine nearSudbury.

But given the limited options forexpansion in Canada, a major por-tion of our growth must come fromlow-cost laterite deposits around theworld. In our 1992 Annual Report,under the section discussing ore re-serves, you will note that for the firsttime our laterite resources, contain-ing some seven million tons of nickel,exceed our sulphide deposits inCanada, containing some 5.6 mil-lion tons. That's a major shift andsuggests the increasingly global di-rection of the Company in the yearsahead.

In Indonesia, our 58 per centowned P.T. Inca operation is one ofthe lowest-cost nickel producers inthe world and offers excellent poten-tial for expansion. Last year, P.T.Inco produced a record volume ofnickel in matte and continued onschedule toward increasing its pro-duction capacity to 100 millionpounds annually by 1994., That newcapacity is already paid for. When itcomes on stream, it will help supportour goal to expand production as thenickel market grows. Just as impor-

tant, it will increase the proportionof low-cost nickel in Inco's total out-put and, thus, will contribute signifi-cantly in our drive to reduce unitproduction costs.

At current mining rates, our re-serves in the Soroako area aloneshould last nearly 50 years, with thepotential to prove up additionalreserves at this site. At the sametime, P.T. Inco has stepped up its

Scott Hand

exploration activities outside theSoroako area, with a view towarddeveloping additional resources forpossible future expansion as marketconditions warrant. So P.T. Inco re-mains very important in our plans.

Another of our laterite deposits isin Guatemala. This smaller project,with a production capacity of 25million pounds of nickel annually,has been mothballed since 1982. Afeasibility study is under way to de-termine whether the project might be

brought back into production underappropriate market conditions. If andwhen we did decide to restart theGuatemalan plant, we could do so inabout 12 months from the decisiondate at a relatively modest capitalcost in comparison to a greenfieldsproject.

As to our laterite deposit in NewCaledonia, we are now in the pre-liminary stages of studying possiblemining and production plans for thismajor resource, which could providea source of nickel into, and beyond,the next century. Assuming we moveahead with the New Caledoniaproject, the first nickel would prob-ably be shipped within the nextdecade.

Apart from the nickel business,we have opportunities for growth ina number of other areas. In Chile, wehave teamed up with CODELCO, thatcountry's leading mining company,on two fronts. Firstly, our ContinuousMining Systems subsidiary is build-ing a jointly-owned mining equip-ment manufacturing plant. Of po-tentially greater significance, we havejoint venture opportunities, onCODELCO'S mineral properties, cur-rently under consideration. Also, wehave important exploration pro-grams underway for base metals, goldand platinum group metals inCanada, the United States, Turkeyand Indonesia.

We own 62 per cent of TVX Gold,and this company continues to meetour expectations. Its basic strengthsinclude long-life quality reserves,modem facilities and low cash oper-ating costs. Last year, TVX increasedits production of gold and goldequivalent by 45 per cent.

Despite the low price of gold, TVXimproved its profits by continuing

to reduce its costs.On the other hand, our alloys

business has not lived up to expecta-tions. We are determined to bringthis business back to profitabilityby reorganizing operations,reducing costs and better serving cus-tomer needs. Last month we an-nounced a major workforce reduc-tion, asset writedowns and otheractions resulting in an after-taxcharge of $14 million to our firstquarter 1993 results. It is anticipatedthat the workforce reduction willreduce employment costs on anongoing basis by approximately$15 million a year. Other improve-ments and cost cutting actions willfollow.

The alloys business continues toface a difficult business environment,as indicated by excess industrycapacity and low alloy prices.However, with the actions we havealready taken, and the actions wewill be taking, we expect thealloys business to move towardbreakeven during 1993. Our goal isto reduce costs to a level whereInco Alloys International canbreak even under today's difficultbusiness conditions and canachieve satisfactory profitability overtime as initiatives are fullyimplemented.

in summary, although Inco iscurrently going through a difficultperiod because of low nickel pricesand problems in the alloys business,we continue to make significantprogress in reducing costs and im-proving productivity.

We remain extremely optimisticabout Inco's prospects as the Com-pany emerges from the current downcycle in the nickel industry and pur-sues growth opportunities worldwide.

APRIL 1993

Pensioners Bonspiel trophy leavesInco's grasp

W at do Falconbridge,Steel Electronics,eaver Lumber and

Canada Post have in com-mon with Inco?

They commandeered theInco Pensioners CurlingBonspiel Trophy.

"We gotta quit having somuch fun and do some seri-ous curling," kidded one Incopensioner as he watchedInco's vice-president of min-ing John Kelly present the tro-phy to a team made up en-tirely of guest curlers.

The winning team con-sisted of retired Falconbridgeminer Reno Prenol, retiredSteel Electronics employeeTom Smith, Beaver Lumberretiree Lorne Hanson andCanada Post pensioner ArtTrottier.

While most Inco pension-ers were determined tO wfiiback the trophy next year,they admitted that the mainobjective of the event was tohave a good time.

They succeeded.The event was held at the

Copper Cliff Curling Club.

Inco Security pensioner Wilfred Duguay takes a shot.

Watching the curling action are Mills retiree HiltonFowler, Stobie Mine pensioner Doug Malloy and BellCanada pensioner Dave Parks.

Vice-President of MiningJohn Kelly presents thePensioners curling trophyto a team made up ofnon-Into bonspiel guests.From left, Reno Prenol,Tom Smith, Lorne Hansonand Art Trottier.

Maintenance pensioners enjoy55th annual banquetDon Harry was just

happy to see the guysagain. He never ex-

pected to win anything butwhen his name was called hequickly accepted his $50 prize.

The 55th annual pension-ers' banquet was a time formeeting old friends and shar-ing stories. Several men likeHarry were lucky enough totake home a door prize.

More than 1,150 peopleturned out to honor those pen-sioners retiring on April 16 atthe Caruso Club in Sudbury.This year 82 men joined theCopper Cliff MaintenancePension Club.

Harry, a pensioner himselfsince 1991, attended the ban-quet to honor the new pen-sioners.sioners. "I like to see all thefellows I worked with," saidHarry, who worked in thetransportation maintenancelocomotive shop. "That's thepart you miss the most. Beforeyou saw them eight hours aday now you only see themnow and then."

The night couldn't have

Don Harry reaches deep into the barrel topick out the next lucky door prize winnerduring the banquet.

been more enjoyable for Harryafter winning the $50 chequein one of many draws thatevening. Tim Foucault, clubpresident, said that this yearthere was about $1,700 worthof prizes. Lucky ticket holders

picked up prizes ranging frompatio furniture to a barbecue.Top prizes included a 70" tel-evision and a rubber boat.

"The turnout was great, wewere very pleased with theevening," said Foucault.

14 APRIL 1993

You can do something about back , painRepetitive Strain Injuries of the BackThis is the first of a two-part series on muscle injuries from Repetitive Strain (RSl) of

the back.Have you ever had an ache or prim thatyou can't explain or from on activity that you

havebeendoing fora b.n jtime N ithuut problem, and then one day you do the same activityand get a pain or ache

" oumay have experienced ^ Repetitive Strain Injury and it may have been trim someof your habits at work and liiuy," says lanet Murtindule, upervisor of OccupationalMedicine,

About 63 percent.vl the lost t i rue accidents in the mining industry are related to the buck.Most of these ore not ..-used by an at tuul accident but are muscle strains and sprains

which are often caused from Repetitive Strain

What is a repetitive strain injury?,An RSI is an injury of themusu. le, joint, ligament or tendon trim a movement , habit or

an activity that is not net.e,wrily very strenuous bill is repeated marry times. The musclesand jointsare used in ati.unlxilwn.ed way scone group of muscles is over-used and tight andthe opposite muscles urn weak and l oose.

IiSls take plu(e in most ports of the body. In this article we are only going to talk about11,51. of the back.

' RSI ttd, co t.'te buan cause pain or discomfort in the buck , hip, groin or legs.

what happens?* A muscle or'groups

The Triangle 15

All stops out for 1993 inducteesto Inco Quarter Century Club

Now that she's up onthe billboard, peoplewill finally have

someone to look up to, claimsFi Ceppetelli with the somesense of humor she's had inher 25 years with Inco.

"Looking back, Inco hasbeen very good to me. I haveno reason to regret my 25years," said the Transporta-tion shipper. "I've worked withsome great people over theyears."

Fi is one of 14 people whoare featured on four Sudburyarea billboards (centre right,back row) announcing the"Class of '93" new QuarterCentury Club members.

The billboards, located onLasalle, Lorne, the Kingswayand Highway 69 North, arepart of the preparations forthe annual Quarter CenturyClub event, to be held in thePalladium Room at the Holi-day Inn on Wednesday andThursday, May 12 and 13. Thegroup photo under the cap-tion "Honoring A Sterling Per-formance" is also displayedon billboards at Inco plantsand mines.

"I'm kind of amazed thatit's been 25 years already,"said Fi. "I guess I was one ofthe many people who figuredI'd take a,jobwith Inco forafew years and then move dh.But then you get married, havekids and settle down, and partof the settling down is the job.

"So here I am, after 25years, still at Inco. I don't re-gret it."

Month to prepare

The May event is the cul-mination of months of prepa-rations, from choosing wine,floral table settings, colorschemes, menus and enter-tainment to making sure the464 invitations are processedand reply cards are received.

"We began preparationsmonths ago," said DianeFlynn of Public Affairs. "Everyyear, we turn to volunteerswho offer their services andmake the event the success itis. It always turns out to be amemorable event for our cel-ebrants."

The entertainment thisyear will be two of Canada'stop comedians, backed by anexciting group of versatilemusicians who have brokenattendance records at clubsacross the country. Called theMalton & Hamilton Show, itfeatures Wayne Malton andMike Hamilton. The two claimthey were in the GuinnessBook of Records for the long-est time of continuous joketelling for 52 hours.

They're a combination ofLaurel & Hardy's glorious buf-foonery, Abbot & Costello'scomic genius and Martin &Lewis' versatile song andfunny expressions.

Club growing

With Inco's seniorworkforce, the Quarter Cen-

Mines office senior secretary Carol St. Laurent "puts her stamp " on the upcomingQuarter Century celebrations ... hundreds of times . She's one of a small army ofvolunteers helping to make the event a success.

Malton & Hamilton

tury Club's membership isgrowing by leaps and bounds.Long gone are the days whenthe club grew by only a dozenor so members. Forecasts showthat as many as 700 peopleannually will be reaching their25th year at Inco by 1996.

As in past years, the cov-eted Quarter Century Clubgold pins will be presented tonew members by managers.Spouses are presented with acup and saucer or stein.

Smile, please

Again this year, com-memorative polaroid photoswill be taken of new membersin a backdrop specially de-signed for the event. Corsagesare supplied for the ladies.

The billboard portrait willremain in place until after theevent. Also included in thegroup picture are DeniseRochon, Brian Rogers, IsabelScott, Vincent Lacroix, BrianBell, Stanley Haskett, RayBrazeau, Bob Martin, RonGarbutt, Terry Antonioni, DonMalo, Brian Nadjiwon andHarry Will.

Volunteers on May 12, thefirst night of the two-day event,include co-ordinator Carol St.Laurent of the Mines Office,hostesses Laura Diniro ofSafety, Claims Administra-tion, Coleen Cascanette ofPurchasing, DarleneWilliamson of Plant Protec-tion and Faye Wafer of Pur-chasing. Polaroid pictures willbe taken by Janet Wyman ofSafety, Claims Administrationand Sandra Hammond of In-formation Systems.

At the registration and pintables will be Ron Orasi ofProperty and Office Services,Dave Bradley of Benefits, JohnTicalo of Purchasing and MarySitko of Property and OfficeServices.

Handling security will beJim Chevrette and TomMoland of Plant Protection.Sandy Muzia of Central Main-tenance and Utilities will han-dle the corsages.

On the second day, CarolSt. Laurent will again helpcoordinate the event as wellas help with the hostess du-ties. Other hostesses includeexecutive secretary Cathy Sen-ior, secretary to the presidentPat Valentini and LisePhilipow of Levack.

Polaroid Pictures will betaken by Tammy Latendre, aco-op student with the AdultAlternative program, andDonna Cameron of the Comp-troller's Department.

Registration and pin tableswill be handled by DougMazerolle of the Transporta-tion Department, JuneStelmack of the Comptroller'sDepartment, Reg Gareau ofthe Energy Team and MarcelBigras of Transportation. Se-curity will be handled by KevinGibson and Robert Tracy ofPlant Protection and corsageswill be handled by NormaMorin of the Comptroller'sDepartment.

16 APRIL 1993

Yesterdaytodays

'C

W

40 Years ago

They were making ventilation doors, concrete forms , undergroundsquare sets, ladder sides, skip and cage guides , saddle blocks for drifts,griz_zley blocks for stopes, chute sides, pillar and jaw blocks and thou-sands of blasting spacers, plus much more.

it was a busy place. the Frood-Stobie carpenter and framing shop,iuhncutiuug 750,000 feet of timber a year , just to make undergroundsquan- setts tar the mines.

the big produLer in the shop was a double end framing machine thatcut horns (square pegs) on the ends of square sets. O ther equipment usedby the shops 40 employees included a gaining machine , a pluner, aswing saw, a rip saw, a band saw and, to keep the shop's dozens of sawblades slurp and reliable, an uuturnutic filing machine.

Other leuture Stories that month were:"1'952 Production of Ore Hieghest Ever For Inco.""Frood-Stobie vs. Copper Cliff In first Aid Contest."

25 Years ugo

" I hey're Culled ' Hums'. But Don't You Believe It," the caption said.It's a highly skilled hobby , and of 35 of those hobbyist., more than halfwere employees of Inco. They were the largest punt of the group thatturrritd tli Amateur Radi o Operator's Club, which was founded in 1947.

It, Establish oneself in the hubby was no easy task. All ' hams' had tobe llcenced by the Department of Transport , which had two grades ofoperators , A and 13. To qualify for an A licence you had to have a B licenceand to get u ii licence , which qualified you to transmit in Morse code only,you had to pass a test on electronics theory, radio operations procedureand rutlie; iequ^iai ill'., and br able to transmit ante receive 10 words ofMorse c octe per minute.

An A licence could be obtained after you operated with a B licence forone your, pulsed a stilter test on electronic theory, equal to a second year

L

Miles of Frood-Stobiecarpentry

technology course and could handle both transmission and reception ofMorse code at 15 words per minute.

Other feature stories that month were:"Manitoba Explosion ." (The $100 ,0[x],000 expansion program to

boost nickel production to 170 , 000,000 pounds annually at Thompson.)"Young Skaters In Colourful Show At Copper Cliff.""Cambrian Takes Care Of Serious Education Crap."

15 Years ago

Just a year previously Stobie Mine had been selected the centraltraining area to teach underground operutiny skills to new mine traineesand transfers from surface facilities who had no underground experience.

MKore than 650 employees had been put through the training pro-gram by April 1978 and according to Doug Anderson, training foreman,organizers of the program were getting good feedback from both thetrainees and the mines regarding the quality of training.

Said Anderson: "We stress hands-on training, with a requirement todemonstrate the skill level attained, which gives the employees a feelingof confidence in their abilities when they leave the training urea with theirnewly demonstrated skill."

Not only were the trainees given instruction in the use ui miw iig tools.such as jack legs, stopers and slushers, they were taught about the rulescovering underground and plant behavior, personal protective equip-ment, first aid, explosives, blast guarding, fire procedure, scaling andmuch more.

For in-the-field hands-on training, the trainees were taken to the worksite by their instructors to do the actual work.

Other feature stories that tnurith were:f•0 P14:ri_l:Ii'i iCC.lel1Lrrid i.oinrt,a:z,it'- e tAntro NOW OOLIttiullty OUen.'•

"Modular Training At The Silver Plant.""Into Metals Company Donates Collection Of Puxy Carvings To1.uurentiuii University,"

INCOMEDon't ignore tax-saving

dividends.When thinking about where to

stash those few extra dollars youmight have lying around, dividend-bearing shares should have a placein your plans.

Too risky you say? Not if youbuy preferred shares in any numberof Canada's blue-chip publiccompanies.

Why not just buy GICs (guar-anteed investment certificates) orCanada Savings Bonds you ask? Ina word - tax. Dividends paid byCanadian corporations are taxedmuch more lightly than the inter-est you might earn on that GIC.In theory, this prevents somedouble taxation since the corpora-tion has already paid tax on itsincome.

If you are in the lowest taxbracket (17 per cent federal rate),you'll pay about $7 tax on each$100 of dividends received, depend-ing on the province in which youlive. If you received $100 of interest,your tax bill would be about $27.For middle bracket taxpayers, thedifference narrows a bit to about$25 tax on dividends and about$42 on interest. The numbers fortop bracket employees are about$32 and $48.

So, you might very well ask,

ideaswhy doesn't everybody earn divi-dends instead of interest? There aretwo reasons. One, shares in compa-nies are generally more risky thanbuying securities such as GICs. Andtwo, dividend rates are usually lowerthan interest rates.

Dividend attractive

But not that much lower if youtake a look at preferred shares. Infact, current dividend rates rang-ing from nine per cent to 10 percent compare favorably with cur-rent longer term interest rates at 10,per cent to 11 per cent.

No matter which tax bracketyou are in, your after-tax return isthe some when interest rates are 10per cent, and the dividend rate isabout 7.8 per cent. If the dividendrate is nine per cent, you earn morewith the dividend-paying sharethan the interest-paying GIC.

Preferred shares are sort of ahybrid - a cross between stocks andbonds. They are shares that tradeon the stock market, but their pricevaries only slightly compared withcommon shares. Preferred sharesrank ahead of common shares,which means that dividend pay-ments must be made to preferredshareholders before dividends arepaid on common shares. And, if

by Richard Birch

the company gets into financialtrouble, preferred shareholders rankahead of common shareholders onany distribution of assets.

Preferred shares generally paya fixed dividend, although vari-able or floating rate preferred shareshave become popular. The divi-dends are usually paid quarterly.Preferred shares may be cumula-tive, which means missed dividendpayments must be made up beforedividends are paid on commonshares. Most don't carry votingprivileges at shareholders' meet-ings.

Lots of options

Redeemable preferreds can bebought up by the company fromyou at a specific price before a spe-cific date after appropriate noticehas been given by the company.Retractable preferreds give you theoption of selling the shares back tothe company at an agreed uponprice before a certain date.

Convertible preferred shares canbe converted into common sharesof the corporation at your optionusually at a specific price on a spe-cific date. The value of convertiblepreferred shares will generally varymore than other preferreds becausethey are closely tied to the change

Dividends paydividends

in value of common shares.Don't forget that all preferred

shares carry some risk, althoughmost debt securities also do. Youwill incur brokerage charges if youbuy preferreds, which should be

MAIL 'POSTEC.M. Pwf C."'O. / e«" cs.W _ «a "«»

P04" "WBik

PM""

Nbre2065Sudbury, Ontario

WILLIA M L O^+GNJeBUX 2 I TELIVELY ONPOll 2EU

Manager Public AffairsJerry Rogers

figured into the return you expect.And remember that they shouldnot be held in an RRSP . Since allincome in an RRSP is tax -sheltered,you are better off earning the higherrate of interest on ICs.

Publications Editorjohn Gast

for employees and pensioners of the Ontario Division of IncoLimited. Produced by the Public Affairs Department. Membersof the International Association of Business Communicators.

Letters and comments are welcomed and should be addressed tothe editor at Inco Limited, Public Affairs Department, CopperCliff, Ontario POM 1NO. Phone 705-682-5428