"Norilsk Nickel" finds a buyer for African assets.

BCL will buy its assets in South Africa and Botswana.

As "the Kommersant" is informed, MMC "Norilsk Nickel" sells its nickel assets in Botswana and South Africa to the Botswana BCL Ltd. The deal could be worth $ 300-350 million – this is the maximum price that "Norilsk Nickel" has managed to get for its foreign assets. The analysts believe that the deal will calm the investors, who fear an increase of the company's debt due to the high dividend obligations.

Today the Board of Directors of MMC "Norilsk Nickel" will consider the sale of the Tati Nickel Mining Company (PTY) Ltd. (Botswana) and Norilsk Nickel Africa (PTY) Ltd (South Africa) assets belonging to it. Sources of "the Kommersant", close to the shareholders of MMC, stated that the sale of the businesses to the Botswana BCL Limited should be announced, which processes the Tati Nickel concentrate under a tolling agreement (then the semi product goes to the enterprises of "Norilsk Nickel" in Russia and Finland). The deal amounted to $ 300-350 million.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer