Russia clears Chinese co to take part in copper, nickel fields devt
GORKI, Moscow Region, Nov 13 (PRIME) -- A Russian government commission on foreign investments has approved an application of Chinese state company Jilin Horoc to buy a blocking stake in RussiaТs Geotekhnologiya, which owns copper, cobalt, and nickel licenses in the Kamchatka Region, Igor Artemyev, head of the Federal Antimonopoly Service told reporters Wednesday.
УThe Chinese company is acquiring a blocking stake in a company that owns important deposits in Kamchatka containing about 43,000 tonnes of nickel, 1,500 tonnes of cobalt, and a lot of copper,Ф he said.
The Jilin Horoc company is due to participate in the development of infrastructure in the region, Artemyev said. УThe deposits have not yet been developed, because there werenТt any investments,Ф he added.