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"Norilsk Nickel" continues to sell unprofitable assets

«Norilsk Nickel», the world's largest producer of palladium and nickel, continues to dispose of unprofitable assets in foreign countries — in July under liquidation was an Australian nickel mine «Black Swan» company «Poseidon Nickel». And this despite the fact that before the crisis in 2008, «Norilsk Nickel» spent on the purchase of foreign assets worth in excess of 6 billion. USD in an effort to take a leading position in the global market for nickel and geographically change the business. At the moment, these tasks are replaced with high-planning projects and the maintenance of the necessary financial discipline.

Implementation of mine «Black Swan» will be held within six months, and the secret stored proceeds at the completion of the transaction amount of money, as it was reported by «Poseidon Nickel», a company notorious thanks to high-profile collapse of Australia's stock prices. The main specialization of the company — exploration and production of nickel concentrate, and the western parts of the continent. «Norilsk Nickel» is also in no hurry to talk about the details and the transaction amount. Sam Mine «Black Swan» purchased the «Norilsk Nickel» in 2007 in Western Australia along with the other assets of the American company nickel «OM Group», the value of the transaction amounted to more than 408 ppm USD. Despite the fact that in 2008 the volume of released nickel concentrate amounted to 16 thousand tons, in 2009 there was a preservation object. In this regard, analysts «Black Swan» confident that the transaction will affect the financial performance of «Norilsk nickel» minimally because the mine idle since 2009.

This sale is not the first time this year — in May, «Norilsk Nickel» were implemented Australian mines «Cawse» and «Avalon», belonging «Wingstar Investments», Melbourne investment firm. At the beginning of 2014 «Norilsk Nickel» has concluded an agreement on the implementation of the Australian gold assets, while receiving 100 million. Australian dollars, of which 60% represented a commitment to restore the land transferred to the client. Sale of inefficient assets is not surprising, given that the nickel in the period from 2005 to 2007 increased in value greater than 5 times and amounted to 52 000 USD / ton, but by 2009, lowered the price to critical level below 10 000 USD / ton due to the world financial crisis. In the current year, the nickel quotation marks begin with the order of 14 000 USD / ton in the day today rising to the level of 19 000 USD / ton.

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