Russian Platinum quits JV talks with Norilsk over RUSAL disagreement

MOSCOW, Mar 20 (PRIME) -- Metals company Norilsk Nickel has received a proposal from Russian Platinum to discontinue talks on establishment of joint venture Arctic Palladium in the absence of required corporate permits for the JV from Norilsk’s shareholder RUSAL, Norilsk Nickel said in a statement on Friday.

"The company’s management has commenced reshaping its partnership with Russian Platinum considering means to support the projects of Russian Platinum and its potential partners,” the statement said.

“In particular, Norilsk Nickel has entered into discussions with Russian Platinum on provision of certain services and resources, which will be required for these projects as well as potential off-take at market terms of the products to be produced from the Chernogorskoye and the southern part of Norilsk-1 deposits."

Russian Platinum plans to develop the Chernogorskoye deposit and the southern part of the Norilsk-1 deposit independently.

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