Amur not to handle the Norilsk-1

The gold-mining cooperative Amur, a part of Russian platinum of Musa Bazhaev, won’t be able to independently develop the southern part of the copper and nickel deposit Norilsk-1 in Taimyr because of the lack of financing, and the deposit will be transferred to Norilsk Nickel as a result.

A draft regulation on granting of the Norilsk-1 license to Amur is on approval in the Government apparatus – in fact, it was to be signed by the prime Minister, the Vice Prime Minister Arkady Dvorkovich reported on July, 16.

 

Finances

“It is a question of at least $1 billion of investments if to start operations at the deposit now. I doubt that Russian platinum has such free funds,” – the analyst of BKS, Oleg Petropavlovsky says.

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