FAS approved the sale of 13% of Bystrinsky GOK to China

​The Government Committee for strategic investment has approved the deal on the purchase of about 13% of the Bystrinsky gold-copper-iron ore deposit by the Chinese investors, the head of FAS, I. Artemiev, said on the results of the meeting of the Committee.

In late December 2015 Norilsk Nickel announced of the sale of 13.3% in the Bystrinsky GOK for $100 mln to the consortium of Chinese investors Highland Fund. Highland Fund comprises the Hopu fund which previously focused on the Udocan deposit of A. Usmanov but preferred the Bystrinsky GOK as a project close to be put into operation.

Chinese investors may act not only shareholders but industrial partners of the Bystrinsky GOK signing the off-take contract for its products, Norilsk Nickel hopes.

After the completion of the deal on the sale of 13.3% an increase of the stake of Highland Fund to 20% is possible. The long-term plans comprise the listing of the increased (by means of the Baim deposit of Millhouse) Bystrinsky project in the Chinese stock exchange, the President and owner of Norilsk Nickel, V. Potanin, said.