Support The Moscow Times!

Norilsk Ups Investment 7%

Norilsk Nickel, Russia's largest mining company, plans to increase capital spending by at least 7 percent in 2012 as it develops a copper project in East Siberia and explores for new resources.

Investment will exceed $3 billion in 2012, Norilsk said in a statement on its web site. The figure compares with the $2.8 billion in investments the company planned for 2011.

Norilsk plans to invest 7.5 billion rubles ($233 million) to develop the Chita copper project in East Siberia and spend $100 million on geological exploration, it said.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.