Norilsk Nickel announced its withdrawal from the Nkomati joint venture in South Africa – Kommersant

Norilsk Nickel (MOEX: GMKN) signed an agreement to transfer a 50% stake in the Nkomati joint venture to its partner, the South African company African Rainbow Minerals Limited (ARM). The transfer of assets was organized through the group’s company Norilsk Nickel Africa Proprietary Limited (NNAf).

“In addition to the share in the joint venture, ARM will assume all of Nkomati’s obligations, including environmental, in exchange for a contribution from NNAf payable to ARM,” it said. message companies.

Norilsk Nickel added that the company plans to close the deal within 2024. The conclusion of this agreement, as indicated in the message, confirms Norilsk Nickel’s plans to exit foreign assets.

Nkomati’s assets include deposits of disseminated copper-nickel sulfide ores, a mine and a quarry mothballed in 2015. After the cessation of production in 2021, the company is in the stage of conservation and reclamation.

Petr Buzlaev