Norilsk Nickel to attract $1 bln. for copper project in Chita

Norilsk Nickel is about to take out a loan from Russian banks for a copper project in Chita. The company maps out to develop it independently. The world’s largest nickel and palladium producer has already invested $500 million into the Bystrinskoye copper project and wants to receive $1 billion of proceeds a year after its start of full production.

“We think that amidst current environment having partners is not reasonable for this project,” the first deputy director general of Norilsk Nickel, P.Fedorov said.

He said that the negotiations on financing were carried out with with Russian development banks and he gave no details.