"Metalloinvest" to share Udokan.

"Metalloinvest" and "Rosteh" are seekngf partners in China for the development of Russia's largest copper deposit Udokan.

Alisher Usmanov’s Mining and metallurgical holding "Metalloinvest" are in talks with Chinese companies about the sale of shares in the Udokan copper deposit, Bloomberg reported, citing two of its sources. "The Vedomosti" source, close to one of the negotiating parties, states that "Metalloinvest" and the state corporation "Rosteh" are looking for a joint venture partner.

The representative of "Rosteh" explained to "the Vedomosti" that the corporation is still going to participate in the Udokan project and intends to implement an option to acquire a blocking stake from "Metalloinvest". "Rosteh" and "Metalloinvest" are already partners and negotiate together, including with the Chinese side", - "the Vedomosti" source close to one of the negotiating parties stated. Yet a possible partner is not defined, and how the deal will be structured - is not clear. "We are not yet ready to comment on the next steps", - the representative of "Rosteh" stated.