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Vale's Goro on target, but pipe delays continue

Wed Aug 27, 2008 1:25pm EDT

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(In U.S. dollars, unless noted)

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TORONTO, Aug 27 (Reuters) - Vale Inco (VALE5.SA), the nickel wing of the Brazilian mining giant, has fallen further behind schedule in its efforts to begin installation of a waste pipe at its massive Goro project in New Caledonia, but said the mine is still on budget and on target.

Company spokesman Cory McPhee said the mine was still targeted for commissioning in late October or early November with a development budget of $3.2 billion.

The company halted work on the waste pipe earlier this year following opposition from environmentalists and locals. It had hoped to resume work in July, but McPhee said the company has not been able to do so yet. (Reporting by Cameron French; editing by Rob Wilson)

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