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Nornickel, Russian Platinum sign $4.4 billion PGM deal


Nornickel has signed a $4.4 billion partnership deal with Russian Platinum Plc in a 50:50 owned enterprise to jointly develop three major platinum group metals (PGM) deposits in Russia.

The joint company aims at producing approximately 70-100 tonnes per year of platinum and palladium, as well as 50,000 tpy of nickel, Nornickel’s president Vladimir Potanin said.

The deposits in the Norilsk area have proven ore reserves of 3,100 tonnes of palladium, 1,200 tonnes of platinum, and 6.3 million tonnes of nickel and copper.

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