Norilsk Nickel, Russian Platinum file application for PGM JV

MOSCOW, Oct 10 (PRIME) -- Metals giant Norilsk Nickel and Russian Platinum have filed a request to the Federal Antimonopoly Service to create a 250 billion ruble joint venture to develop deposits of the platinum group of metals (PGM) on the Taimyr Peninsula, a representative of Norilsk Nickel told PRIME on Thursday.

“A request to the Federal Antimonopoly Service has been filed, work on the project is underway. A feasibility study is being prepared,” he said.

In February 2018, the companies signed a basic agreement on strategic partnership encompassing creation of a joint venture on a parity basis to develop three fields on the Taimyr Peninsula with a potential production capacity of 70–100 tonnes, or 2.5–3.5 million ounces, of metals of the platinum group per year.

(65.0976 rubles – U.S. $1)

End %%ob/jst%%