Inco/Voisey’s Bay Nickel Company will establish an Inco Innovation Centre in collaboration with Memorial University. Centre will focus on education and research in mining, exploration and metallurgical processing techniques. 50-60 students annually engaged in bachelors, masters and doctorate level programs will receive world-class education, research and training related to the mining industry. Inco/Voisey’s Bay Nickel Company will work with Memorial University to develop relevant hydromet courses to ensure a supply of qualified engineers, metallurgists and technicians for Voisey’s Bay Nickel Company. Work to begin in 2002 with target completion in 2004. Capital cost of facility will be approximately $10 million. Annual endowment of $1 million for 10 years to cover operational costs.