print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Norilsk Nickel MMC press releases

Norilsk Nickel MMC

September 17, 2003

MMC Norilsk Nickel acquired 44.9% in OAO “Lenzoloto”

At the open tender held on September 17, 2003, OOO “Prospekt”, representing MMC “Norilsk Nickel” (“Norilsk Nickel”), acquired a controlling stake of 44.9% (58.55% of voting shares) in OAO “Lenzoloto”. The total consideration for the stake was RUR 4,665 million. The starting price was RUR 1,065 million.

Maxim Finsky, Deputy Chairman of the Management Board of Norilsk Nickel said, that Norilsk Nickel has not only won in an open tender for the shares but also acquired an outstanding asset, and as a result, with the total annual production of 40 tons of gold, Norilsk Nickel becomes one of the 10 largest gold producers in the world. Together with the acquisition of OAO “Lenzoloto” we got the “key” to the largest gold deposit Sukhoy Log. Mr. Finsky added that Norilsk Nickel has won in the tender competing versus highly respected representatives of RUSAL and SUAL groups.

Mr. Finsky emphasized the point, that the acquisition of OAO “Lenzoloto”, will allow Norilsk Nickel, if it wins the tender to develop Sukhoi Log, to save around USD 300 million in investments due to the existing developed infrastructure in place.

Additional information

Acting in accordance with approved diversification strategy targeted at strengthening of Norilsk Nickel position in base and precious metals markets, last year Norilsk Nickel acquired 100% stake in ZAO “Polyus”, the largest gold producer in Russia. ZAO “Polyus” operates an open-pit mine at Olimpiadinskoye deposit in Krasnoyarsk region. In the first half of 2003 ZAO “Polyus” produced 13.1 tons of gold, what is slightly above first half of 2002 production figures. In 2003 ZAO “Polyus” can increase its production up to 26 tons.

Apart from that on August 6, 2003, in the open tender “Euroasian Investment Pool”, representing MMC “Norilsk Nickel”, acquired a controlling stake of 38% (50.7% of voting shares) in OAO “Matrosov Mine”.

Earlier this year Norilsk Nickel acquired in the open tender from administration of Irkutsk region 5.6% stake (7.32% of voting shares) in OAO “Lenzoloto”.

 



 

Copyright © 2002 JSC MMC "Norilsk nickel"

 

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer