Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Norilsk to Cut Investments

Norilsk Nickel, the world's largest nickel and palladium miner, plans to cut its 2012 investments by 10 percent due to weak metals markets, a spokeswoman for Norilsk said.

The company expects to reduce its 2012 investment program to 95 billion rubles ($3.06 billion), Alisa Fialko, a spokeswoman for the company, said Monday.

Global prices for nickel, which accounts for half of Norilsk's revenue, have fallen about 4 percent so far this year, while copper prices have risen 8 percent and palladium prices have been broadly stable.


Related articles:

Read more