Dmitry Shumkov announces that he is co-owner of Norilsk-1

Russian Platinum of Musa Bazhaev has again been involved in a dispute over the right to develop the Norilsk-1 nickel-copper deposit. In 2012-2013, the company struggled for the asset with Norilsk Nickel and now Mr. Bazhaev’s partner Dmitry Shumkov claims to "a share in the deposit". However, according to sources of the Kommersant, his rights for the assets of Russian platinum are not documented, and lawyers believe that references to oral agreements are unlikely to convince the courts.

The agency Mikhailov and Partners reported on Friday that Dmitry Shumkov, "partner of the Bazhaev family in raw material projects, has put up for sale his stake in one of the key assets of Russian platinum - the southern part of Norilsk-1". Mr. Shumkov "always considered the investments in the Norilsk-1 deposit as a portfolio one", the report said, and the sale of the share will allow him to "focus on the development of projects in the field of IT and Real Estate", in particular in the construction of a multifunctional complex Zaryadie.