International Nickel Company of Canada Ltd

International Nickel Company of Canada Ltd

 

(Inco), a major nickel trust, comprising fully or in part more than 20 companies for the extraction and processing of nonferrous metal ores. Controlled by American, British, and Canadian capital, it was formed in 1928 by the merger of British and American companies for extracting nickel in Canada. At times it has controlled more than 90 percent of the nickel extracted in capitalist countries. After World War II (1939–45) the expanded extraction by other firms led to a gradual decline of its share in nickel production; by the late 1960’s it was approximately 60 percent.

In addition to nickel, INCO mines and produces platinum, copper, silver, gold, cobalt, selenium, tellurium, rhodium, ruthenium, and other metals. The principal production enterprises (mines, ore dressing works, smelters, and refineries) are in Canada, but there are also branches in Great Britain and the USA. INCO works nickel deposits in New Caledonia. As of the end of 1970, the company’s assets totaled US $1,827,400,000, with sales of $1,055,800,000, profits after taxes of $208,600,000, and undistributed profits of $897,600,000.

V. G. EIIZAROV

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