Norilsk Nickel receives 12 offers from Chinese investors for the Bystrinsky GOK project
MOSCOW. Sept 15 (Interfax) - MMC Norilsk Nickel received 12 proposals from potential Chinese partners to participate in the Bystrinsky mining and processing complex (GOK) project in Zabaykalsky territory, the Russian mining company said in a statement.
This followed a meeting of the Russian-Chinese intergovernmental commission on investment cooperation.
"We are thrilled to see the level of interest of our potential Chinese partners in the project. Given that Chita copper project is conveniently located next to its target market the interest is high and to date we received 12 various proposals, including proposals to off-take the production, finance the development and as well as broader strategic cooperation proposals. We will carefully assess the proposal to agree on the optimal form and structure of potential cooperation," Norilsk Nickel First Deputy CEO Pavel Fedorov is quoted in the statement as saying.
"Bystrinsky MPC is located in Zabaikalsky territory and is classified by the company as a Tier 1 asset. It is planned to commission a processing facility in 2017 to treat up to 10 million tons of ore from the local copper, iron and gold deposit. Norilsk Nickel plans to invest approximately $1.1 billion into project development between 2014 and 2017," the company said.