Lets find something like this and Ill be real happy :^)

Johannesburg - Rio Tinto, the world's third-largest resources group, on Wednesday announced a 162m tonne resource at its Sulawesi Nickel Project in Indonesia.

The US$2bn (R15.5bn) project is expected to initially produce about 46 000 tonnes per year by 2015, with the potential to increase output to about 100 000 tonnes per annum.

Rio Tinto, which has little exposure to nickel, said the inferred resource graded 1.62% nickel and 0.08% cobalt.

"This project will provide an attractive entry for Rio Tinto into a new metal, and in ten years' time, Rio Tinto could rank among the top ten nickel producers globally," said chief executive of Rio Tinto's copper division, Bret Clayton, in a statement.

"Sulawesi Nickel has been confirmed as a tier one opportunity for our Group. Today's announcement shows a substantial resource and we believe that there is significant potential to find further resources through our exploration efforts," Clayton said.

Rio Tinto's US$300m Eagle nickel development in the US is slated to begin producing in 2009.

Together Eagle and Sulawesi are expected to provide Rio Tinto with the significant entry into the nickel industry it has been seeking.

But the announcement has been clouded by legal action initiated by Rio Tinto last week.

Rio Tinto, which said it had an in-principle agreement with the central government since 1999 to develop the nickel deposits, said it was forced to file a suit against the regional government in central Sulawesi after it issued mining permits to local firms while it was still negotiating with the government over the area.

The company is requesting the nullification of the licences issued to the local companies.

Under Indonesia's existing mining law, foreign mining companies must obtain a contract of work from the central government, while local companies need only obtain a mining licence issued by regional or provincial governments.

According to a Dow Jones Newswire report on Monday, draft proposed changes to the mining law, which would require both foreign and local companies to invest via mining licences, has stalled in the legislature.

Citing concerns over long-term security, Rio Tinto negotiated a deal with Jakarta whereby deposits would be developed under the old 'contract of work' system, while it also agreed to pay the Indonesian government a maximum 30% royalty on the site.

Rio Tinto has been trying to secure a 'contract of work' from Jakarta to develop the Sulawesi site since 2005, but said it was now in the final rounds of government negotiations over full mining tenure and a 'contract of work' mineral title.

Mike Jolley, president director of Rio Tinto Indonesia, said the company did not expect the legal issue to delay development of the Sulawesi nickel project.