Norilsk Nickel to potentially engage new Chinese partners in the Buistrinsky Project

Norilsk Nickel Mining & Metallurgical Company does not rule out the possibility that its Chinese partners' stake in the Buistrinsky Project may be increased. The Mining & Metallurgical Company intends to consider cooperation options for Chinese investors.

Norilsk Nickel to potentially engage new Chinese partners in the Buistrinsky Project

Norilsk Nickel Mining & Metallurgical Company does not rule out the possibility that its Chinese partners' stake in the Buistrinsky Project may be increased. The Mining & Metallurgical Company intends to consider cooperation options for Chinese investors. It should be pointed out that previous reports mentioned a potential transaction between Norilsk Nickel and Highland Fund, a consortium created by China's leading investment funds and corporations. The investor is purchasing a 13,33% stake in the equity of the Buistrinsky Project.

"The Chinese partners have joined, naturally anticipating a wider development of the Chita mountain knot. They are interested in purchasing part of products and help building reputation and dialog with Chinese financial institutes. This is an important development that has already happened and we will look for ways to expand this cooperation, Pavel Feodorov said at the Davos Forum which is taking place these days in Switzerland.

It came to light in the course of the event also that Norilsk Nickel looked to attract about $700 million as project finance for the development of the Buistrinsky cooper gold and iron-ore deposit.

The Buistrinsky Mining Processing Plant is expected to be launched in 2017.