Norilsk Nickel said Monday that it would join with the government to invest 104 billion rubles ($3.4 billion) in developing copper and gold deposits in the country’s Zabaikalsky region near Mongolia.
“The project will enable increasing significantly mid-term and long-term production of copper and add new products,” chief executive Vladimir Strzhalkovsky said. “It will also strengthen the company’s position in Asia.”
Norilsk will spend 80 billion rubles on mine and processing operations and the state another 24 billion rubles building a railroad to the deposits, the company said.
(Bloomberg)
