Govt allows Swiss firm to buy into Russia 2nd largest nickel field

MOSCOW, Mar 24 (PRIME) – The government’s commission for foreign investment control has approved purchase by Swiss company Molumin AG of 75% in Geotekhnologiya, which owns a license for Russia’s second largest nickel field located on the Kamchatka peninsula, Director of the Federal Antimonopoly Service Igor Artemyev told reporters Thursday.

Financial details of the deal were not disclosed.

“Now, Swiss company Molumin AG, controlled by Switzerland’s citizens, plans to buy 100% in company AMP, and the latter plans to sell 75% in Geotekhnologiya. To cut it short, 75% in Geotekhnologiya are being sold,” he said, adding that the government has approved the deal.

“Speaking of the most important things, this is the second most important nickel field in Russia. The first one is controlled by Norilsk Nickel, while the second one, in Kamchatka…is controlled by Geotekhnologiya.”

Geotekhnologiya also owns licenses for copper, cobalt, gold, and palladium fields besides the license for the nickel field.

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