Norilsk Nickel parts with the enterprises in Australia.
Edited by Rhod Mackenzie / 2014-07-29 06:40:45
Norilsk Nickel through its Australian subsidiaries MPI Nickel and Black Swan Nickel entered into an agreement to sell its stand-by enterprises producing nickel Black Swan and Silver Swan (hereinafter - the Project) in Western Australia to Poseidon Nickel.
Norilsk Nickel expects to receive a significant profit from the results of this transaction, mainly due to the write-off of the previously accrued reserves for the environmental liabilities that Poseidon Nickel fully assumes.
The Project includes the open pit Black Swan mine, the closed Silver Swan mine, the concentrator and the supporting infrastructure. The companies were transferred to the care and maintenance mode (temporarily abandoned) in February 2009
