Jubilee in agreement with Inco

Jubilee Mines NL has entered into an off-take agreement with Inco Ltd for the sale of nickel concentrate production from its Cosmos Nickel Operations in Western Australia for the period from 1 October 2006 to 30 September 2007.

The new agreement extends a long-standing relationship between Jubilee and Inco which dates back to November 1998, when the two companies finalised the first off-take agreement covering production from the Cosmos open pit deposit.

Commenting on the new off-take agreement, Jubilee's Executive Chairman, Kerry Harmanis, said: "Following the completion of what was a very competitive bid process for our nickel concentrate, it is pleasing that we can continue our strong business relationship with Inco, on what are attractive terms, for at least the next twelve months."