Norilsk Nickel will sell overseas and non-core assets
As follows from the statement of Vladimir Potanin, who is co-owner and Director of MMC «Norilsk Nickel» in the near future, the corporation may leave their property, only one foreign asset — Finnish nickel refinery — «Norilsk Nickel Harjavalta» (now the Russian company owns 100% of its shares). From the other foreign enterprises Nickel Corporation is planning to get rid of.
Recall: the press-service of «Norilsk Nickel» has published a new strategy for development of the organization last week, which declared the need to exit from the foreign and non-core assets over the next three years. The priority of the corporation will remain top-class assets in promising regions. «We displace our interests on the investment portfolio towards assets that provide stable rate of return of funds spent; We will focus on those businesses where «Norilsk Nickel» has an advantage over its competitors, «- commented on the decision of the company's management of its representatives of the Department of Public Relations.
In addition to the company «Norilsk Nickel Harjavalta», the fate of which is currently solved by the management of the corporation, MMC has a strong nickel assets in Botswana («Tati Nickel»). In addition, the Russian structure holds a 50% mining companies stake in nickel «Nkomati» (South Africa), as well as a number of Australian companies, including listed plant «Norilsk Nickel Cawse», «green» project «Honeymoon Well», nickel mines «Black Swan «and» Lake Johnston «. It is a non-core assets of OJSC «MMC» Norilsk Nickel «include some stakes in energy companies, where, among other papers featured shares of JSC» INTER RAO UES «(nearly 11% of the total portfolio).
The Finnish company, which «Norilsk Nickel» plans to keep among his assets became the property of the nickel corporation as a result of its purchase of the company's business profile «OM Group» (in early 2007). Now the factory is engaged in processing of «Norilsk nickel» raw materials and semi-finished nickel refining from other suppliers. Concentrates are pre-processed in the smelter «Boliden Harjavalta», located on the territory of a single Finnish industrial park. Feinstein and other semi-finished products with a high percentage of nickel goes directly to the «Norilsk Nickel Harjavalta». Capacities for the production of products of nickel plant is estimated at 60 thousand. Tonnes per year. Company markets a commercial product, including nickel briquettes cathodes and salts, as well as semi cobalt in solution (supplied by outside companies for processing) copper cake and other products.