Norilsk Plans to Invest $1.5 Bln in Australian Nickel Deposit

Russia’s largest nickel producer Norilsk Nickel plans to invest over $1.5 billion in development of the Honeymoonwell Nickel Deposit in Australia, Norilsk Director of Overseas Operations Department Roman Panov said on Friday.

Planning for the deposit will be held in 2012-2013 and the company will start infrastructure construction in 2014. The deposit is scheduled to be launched in 2016-2017, Panov said on the sidelines of the St. Petersburg International Economic Forum.

“When the project reaches full design capacity, it will allow us to increase our overall nickel concentrate production by 40,000-45,000 tons,” Panov also said adding that the nickel giant was holding talks with several banks, including Asian financial institutions, to get loans for the project.


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