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Article: Norilsk plans restructuring.(Brief Article)(Statistical Data Included)
- Article from:
- Mining Journal
- Article date:
- September 22, 2000
CopyrightCOPYRIGHT 2000 Mining Journal Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Norilsk Nickel, the world's biggest nickel producer, has announced a restructuring, in the form of a series of share swaps, which will consolidate its two main subsidiary companies. The group, which was privatised in 1995, last year produced 90% of Russia's nickel and around 55% of its copper, with a significant output of palladium and cobalt.
The two companies being consolidated are Norimet, the UK-based sales and marketing subsidiary, and wholly-owned Norilsk Mining Co., which was established in 1997 to develop the local ore deposits and to market finished metals. Norilsk Nickel has already acquired the minority interests in Norimet by swapping shares for 37.9% ...