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MOSCOW, Nov 24 Norilsk Nickel has entered into an agreement to transfer a 50% stake in the Nkomati joint venture in South Africa to its partner African Rainbow Minerals Limited (ARM ), the company reported on its website.
Norilsk Nickel, through its group company Norilsk Nickel Africa Proprietary Limited (NNAf), has entered into an agreement to transfer a 50% stake in the Nkomati joint venture to its South African partner, African Rainbow Minerals Limited (ARM), the statement said. «Norilsk Nickel».
According to the MMC statement, by concluding this agreement, Norilsk Nickel confirms its commitment to a long-term strategy of exiting foreign assets that do not meet first-class criteria, and also strengthens its focus on implementing a strategy to ensure reliability and develop a unique mineral resource base and processing facilities in the Russian Federation.
Nkomati's assets include a deposit of disseminated copper-nickel sulphide ores, an underground mine mothballed in 2015, and a quarry. Mining ceased in March 2021. Since 2021, the Nkomati enterprise has been at the stage of conservation and reclamation.