03 June 2004 12:45
NORILSK NICKEL STARTS FORMING SINGLE GOLD-MINING COMPANY
MOSCOW. June 2 (Interfax) - The Polyus gold-mining company has acquired a 50.48% stake in Lenzoloto, and a 57.544%
stake in Rudnik Im. Matrosova, according to reports from the latter two companies.
All three companies are subsidiaries of Norilsk Nickel, which plans to use Polyus as the basis for a company to
combine all of its gold- producing assets.
Earlier, the chairman of Polyus, Valery Rudakov, told Interfax that "the structure of the new company and its
relations with Norilsk Nickel are being considered by the leadership" and the new company will come into being by
the year's end.
Polyus, which is licensed to develop the Olimpiadinskoye deposit, Lenzoloto, based in Irkutsk region, and Rudnik Im.
Matrosova, based in Magadan region, together produce about 36 tonnes of gold a year, 25 to 26 tonnes of which is
Polyus's output.
Norilsk Nickel is the world's largest producer of nickel and platinum group metals. Its proportions in global
output are 18% for nickel, 13% for cobalt, 3% for copper, more than 50% for palladium, 14% for platinum, and 1.5% for
gold.
[Interfax] |
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