Norilsk Nickel to sell nickel enterprise in Australia
Edited by Rhod Mackenzie / 2014-09-03 09:09:19
Norilsk Nickel has concluded an agreement on the sale of the nickel enterprise Lake Johnston in Western Australia to Poseidon Nickel Limited (Poseidon) through its Australian subsidiaries Lake Johnston Pty Ltd and Lake Johnston Operations Pty Ltd. The project includes mines Maggie Hays and Emily Ann and the supporting infrastructure. The assets were suspended in April 2013, the company reports.
As a result of the sale of the asset, Norilsk Nickel expects to receive significant revenue due to write off of the provision for environmental liabilities, which will be undertaken by Poseidon, and obtaining the appropriate remuneration.
