Norilsk Nickel, Molybdenum

Norilsk Nickel not to develop the Bugdainskoye deposit

Norilsk Nickel has temporarily refused to develop the Bugdainskoye polymetallic deposit (Chita region) because of the fall in prices for molybdenum, vice-president of Norilsk Nickel Andrei Bugrov reported.

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Norilsk Nickel will supply to China all copper it extracts in Chita

Norilsk Nickel constantly negotiates with its Chinese partners about the enlargement of nickel supplies and thinks that China will be the major consumer of copper from Bystrinsky GOK in Chita, the First Vice CEO, the executive officer of Norilsk Nickel, P. Fyodorov says. In his opinion, everybody have felt the effect of the Indonesian nickel export embargo but it’s too early to evaluate re-orientation of the market. Some companies plan to build own processing capacities in Indonesia but Norilsk Nickel actively works over regarding of Norilsk Nickel’s supplies as a valuable alternative to construction of the processing capacities in Indonesia.
Besides from that, Norilsk Nickel thinks that China will be the major consumer of copper from Bystrinsky GOK in Chita, for over $1 billion a year. The company will sell copper and iron ore (magnetite) concentrates

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In 2014, Norilsk Nickel to invest 10 billion rubles into Bystrinsky GOK

In 2014, Norilsk Nickel intends to invest roughly 10 billion rubles into construction of Bystrinsky GOK at the complex ore deposit of the same name in the Trans-Baikal region, head of Norilsk Nickel Vladimir Potanin reported to journalists.
According to him, launch of the plant at the Bystrinsky deposit is scheduled for 2018. Project documents have been designed already, approval of Rosnedra has been received and access communication to the GOK have been constructed.

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Norilsk Nickel starts reducing the investment projects

Norilsk Nickel is going to pay large dividends and start reducing its investment projects. The company can postpone development of Bugdainskoye molybdenum deposit in Zabaikalye and save about $1.4 billion. The company explains the situation by bad conjuncture. Experts confirm that low prices of the main metals of Norilsk Nickel provide no freedom of investment and the low prices of molybdenum don’t make it possible to expect fast benefit from the project. Other investment plans of Norilsk Nickel will be corrected as well.
Norilsk Nickel postpones development of Bugdainskoye molybdenum deposit and construction of a mining and concentration complex there for five years, senior federal inspector of Zabaikalye Bair Zhamsuyev reported during the coordination council for the investment projects in the region. Deputy General Director of Norilsk Nickel Maksim Naumchenko explained the postponement by inefficiency of the project in current market conjuncture. “The price of molybdenum has reduced thrice since 2006 when the feasibility study for the mining and concentration complex had been prepared”, the top manager said.

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