SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

_________________

Date of report (Date of earliest event reported): July 22, 2003

Inco Limited

(Exact name of Registrant as specified in its charter)

Canada
(State or other jurisdiction
of incorporation or organization)
1-1143
(Commission
file number)
98-0000676
(I.R.S. Employer
Identification Number)

145 King Street West, Suite 1500
Toronto, Ontario M5H 4B7

(Address of Principal Executive Offices)

Company’s telephone number, including area code: (416) 361-7511

N/A
(Former name or former address, if changed since last report)


Item 12.         Results of Operations and Financial Condition

  On July 22, 2003, Inco Limited (the “Registrant”) issued a press release covering its results for the second quarter of 2003 ended June 30, 2003. This release included information on the Registrant’s adjusted net earnings and net earnings in accordance with Canadian generally accepted accounting principles (“Canadian GAAP”), the principles covering the Registrant’s primary financial statements, for that quarter and the first six months of 2003 as compared with the corresponding periods of 2002 and a reconciliation of such adjusted net earnings to net earnings in accordance with Canadian GAAP. The press release also noted that, given a strike at the Registrant’s Ontario operations which began June 1, 2003 and the effect of this strike on production of its principal metals and other key aspects of its businesses and results of operations, the Registrant will not comment on whether it is comfortable with the current First Call mean consensus for the Registrant’s adjusted net earnings estimate for 2003 based upon certain assumptions. The Registrant has provided in this press release certain sensitivity analyses relating to the effect of different assumed durations of the strike at its Ontario operations on production of certain metals and certain other information. A copy of the press release issued by the Registrant is furnished as Exhibit 99.1 to this Form 8-K.

Item 7.           Financial Statements and Exhibits

        The following Exhibit is furnished as part of this Report:

(1)     Exhibit 99

(99.1)  

Press release of the Registrant dated July 22, 2003 covering Registrant’s second quarter 2003 financial and operating results.



SIGNATURE

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

  INCO LIMITED




By: /s/ Stuart F. Feiner
Stuart F. Feiner
Executive Vice-President
General Counsel and Secretary

Date: July 22, 2003


EXHIBIT INDEX

Exhibit No. Description Page

         (1)        Exhibit 99

(99.1)  

Press release of the Registrant dated July 22, 2003 covering second quarter 2003 financial and operating results.



EXHIBIT