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"Norilsk Nickel" sell African assets

The management of «Norilsk Nickel» has entered into a binding agreement with BCL for the sale of African assets owned by the Russian corporation — under realization hit 85% share of «Tati Nickel Mining» in Botswana and a 50% share of the joint venture «Nkomati Nickel and Chrome Mine» in South Africa, which pass into the ownership of BCL.

According to preliminary estimates of the total amount paid by the BCL «Norilsk Nickel» on acquired assets amount to 337 million. USD, in addition, the buyer takes on the true debt and environmental agreements, as well as commitments for the remediation of land assets in proportion to the purchased parts. This transaction enables the assignment of rights with respect to off-take-contract for the supply of concentrate «Nkomati Nickel and Chrome Mine» of the «Norilsk Nickel» in favor of the BCL. Also consider entering into off-take-agreement between the BCL and the «Norilsk Nickel» regarding deliveries matte for further processing it within the refining facility, «the Harjavalta» in Finland.

Held for the transaction, «Norilsk Nickel» is by far the largest event in the framework of our strategy to optimize existing assets with the aim of avoiding, not having the status of first-class assets. Enter into agreements for the Russian company is the latest output stage of business in Africa, and in conjunction with the previously committed transactions Australian is the final output of operating international assets offered for sale.

BCL The Company also not a loser — a transaction fully meets the established strategy, allowing the processing of the concentrate produced at the plants «Nkomati Nickel and Chrome Mine» and «Tati Nickel Mining» and smelter BCL, thereby increasing the productive efficiency and establishing a positive social and economic factor for the region. Enter into transactions for the BCL is the first major investment in South Africa.

Final completion of the transaction, which, according to preliminary analysis will last about 6 months, take place after the fulfillment of the conditions and authorizations previously specified by regulators. At the same time on the closing of the transaction will not be affected by factors external financing.

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