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Norilsk Nickel has delayed construction Bugdainsky Mining

Management MMC «Norilsk Nickel» has decided to postpone the project for the construction of mining and processing plant at the base of the ore deposits of molybdenum Bugdainsky five years. «This is a forced measure. By its decision the company pushes difficult situation today with the prices of raw materials on the global market «- commented the position of Mining and Metallurgical Company Bair Zhamsuev, performing in the Trans-Baikal region (in whose territory the place of the proposed construction of the object) as chief federal inspector. «Management» Norilsk Nickel «does not abandon the project, but only postpones construction of GOK to more favorable for the metallurgical sector period» — and stressed. about. governor of the region Konstantin Ilkovsky.

molybdenum — a metal mainly used as an alloying element (as well as the main product of MMC — nickel) in the production of special steels. Manual «Norilsk Nickel», holding construction project Bugdainsky Mining, in partnership with the Investment Fund RF a few years ago, considered that the existing close partnership with MMC metallurgical enterprises will facilitate the task of marketing a new product for the corporation, and the company will pay its pretty quick molybdenum investment. Another argument in favor of moving the project to the owners of the company was the appearance of the nickel molybdenum in the list of non-ferrous metals traded on the LME Exchange (London Metal Exchange) in 2010. «The beginning of this resource trading on the London Metal Exchange molybdenum translates into the category of attractive products for our company. Since this event makes it more transparent processes of financial and economic analysis of the enterprise and education at its price, and it significantly adds to the company's score in matters of liquidity of its securities, «- commented on the events of that time, Yuri Filippov — First Deputy General Director of» Norilsk Nickel «. However, over time the situation has changed: put a fat point in the question of the appropriateness of the infusion of Finance in mine mentioned above with 2006, the molybdenum price of decreased three times, and the year 2012 (for which the metal has fallen in price by as much as 20%) and the beginning of the year.

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