Norilsk Nickel , Copper production | 10 August 2010 г. | 00:55

Norilsk Nickel want to buy copper concentrate in state reserve

Norilsk Nickel want to buy copper concentrate in state reserve
Norilsk Nickel plans to buy copper concentrate from the a state reserve during the next 5-6 years with its further processing to produce 50 thousand tons of copper per year, Vladimir Strzhalkovsky, Director General, Norilsk Nickel told at an investment forum «Russia Calls!», organized by VTB the Capital.

According to him, discussions about the repayment of the copper concentrate have reached a final stage and may be finalized by the end of 2010.

The concentrate will be bought by parts at the price which will be related to copper average price for previous year, Vladimir Strzhalkovsky has told.

Earlier, on August, 31st 2010 г during a meeting in Norilsk Vladimir Putin, Russian Prime Minister charged to define within a month the state reserve sales price of the copper concentrate to Norilsk Nickel.

Stocks of copper which can be taken from the copper concentrate stored in the late eighties, are estimated in 250 thousand tons.

Source: Metal Supply and Sale Magazine
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