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Russian platinum will receive a license to develop copper-Nickel deposits of Norilsk-1

19 July 2013
Russian platinum will receive a license to develop copper-Nickel deposits of Norilsk-1

The Ministry of nature of Russia has prepared for the government of the country

the draft Directive on the transfer of rights on the southern portion of the copper-Nickel deposits

«Norilsk-1» joint-stock company «Artel starateley Amur», a member of the group

companies «Russian platinum» (the owner — Musa Bazhayev). Project preparation was

produced on behalf of the Deputy Prime Minister Arkady

Dvorkovich, who not long ago was the main opponent of the idea of transferring the license of the «Russian

platinum».

Recall that in June 2012 «Artel starateley Amur»

won the tender for the development of the southern area of the Deposit of Nickel and copper «Norilsk-1».

However, Norilsk Nickel (the company compete with «Cupid» in the contest) with such

the decision of the tender Commission did not agree: lawyers Norilsk corporations initiated

litigation for its cancellation. The proceedings were futile, and in

last month the rights of the winner of the tender for the license confirmed the appeal

court.

Earlier it was reported that the situation around the results of the tender for «Norilsk-1»

was complicated by changes in the Russian law «On subsoil», which entered into force in

December 2012. According to these amendments, now these licenses can be implemented

only through auctions. Sergey Donskoy, head of the Ministry of natural

resources, and the aforementioned Mr. Dvorkovich, originally held the opinion,

such important assets as the «Norilsk-1» it is necessary to place

up for auction. They tried to find a legal method to change the owner of the license for

copper-Nickel mine, however, on the side of «Russian platinum» acted Administration

the President and the case was decided in favor of «Cupid».

Recall that stocks «Norilsk-1» are estimated at 1,2

million tons of copper, 851 thousand tonnes of Nickel and 36 thousand tons of cobalt. In addition to these

resources in the bowels of the land contains gold and platinum group metals.

In recent years the world price of Nickel and copper stable

reduced. In six years the price of the first of these metals fell by almost 3.5 times,

and quotes cuprum — only for the last half of the year decreased by 20%.

Market analysts argue that in view of the fact that the cost of the final product constantly

falling, and production costs worldwide are rising, today’s investors need

carefully calculate and analyze the profitability of extraction and production of non-ferrous

metals. «Even if, ultimately, „Russian platinum“ will get a license

production it will be very difficult to start (in the absence of a developed infrastructure

in the area and have small experience in the processing of copper-Nickel ores). In his

„Norilsk Nickel“ will not help the competitor in the hope that

license, in the end, get it» — experts say.

17 July 2013
22 July 2013