21 Jul 2016 17:17

Chinese investor makes payment for stake in Bystrinsky - Norilsk Nickel

MOSCOW. July 21 (Interfax) - Highland Fund, a consortium of Chinese investors, has made payment for a stake in the Bystrinsky gold-copper-iron ore mining project, Norilsk Nickel said in a press release.

Highland Fund purchased a stake in the joint enterprise formed with Norilsk Nickel to develop the project.

The payment was made following receipt of clearance from the Russian government commission on monitoring foreign investment, which Federal Antimonopoly Service (FAS) chief Igor Artemyev said had okayed the deal in early June.

The transaction proceeds will be used for project development purposes, Norilsk Nickel said.