JAKARTA ~ Anglo-Australian mining giant Rio Tinto said on Thursday it hopes to sign a contract with the government later this year for the development of a major nickel concession in Sulawesi.

Rio Tinto Indonesia president Omar Anwar told reporters after a meeting with Vice President Jusuf Kalla that the company hoped to start producing nickel at the project in 2010, with full operation by 2015.

The company says it has an estimated 162 million tons of laterite nickel ore at its Sulawesi project, and its development could put Rio Tinto into the top 10 global nickel producers.

It plans to spend US$1.97 billion developing the concession.

– Dow Jones Newswires contributed to this story