ASX 200 Inclusion........, page-37

Nickel is a green metal. It doesn’t corrode and doesn’t need polyurethane paint for protection. Many companies are changing to stainless steel pipe work and fittings for this reason, lower costs associated with initial paint cost and lifetime maintenance. The higher strength means a thinner sheet of stainless steel can be used instead of mild steel. If there is a price of carbon in the future I think Indonesia would be exempt or taxed at a lower rate due to its developing country status. Even if it wasn’t it would be an equal playing field as every nickel producer will have the same costs. Imagine the cost of planting trees in Indonesia compared with Australia to offset C02. Coal fired power stations C02 emissions differentiate on if black or brown coal is used. Brown coal has much more emissions. From an investment perspective the most important consideration is a cheap reliable power supply. 1 megawatt of electricity in Indonesia is $60 if I recalled correctly. Equal to 6 cents per kWh. We pay aprox 30 cents per kWh in Australia. I did a recent comparison with WSA who are using diesel generators at on of their site, their cost would be 60 cents per kWh. The rotary kilns NIC also use excess heat to preheat ore going into the furnace so also very efficient.