https://www.miningweekly.com
Copper|Gold|Service|Operations
Copper|Gold|Service|Operations
copper|gold|service|operations

Nornickel is said to invite bank pitches for copper-mine IPO

16th August 2019

By: Bloomberg

  

Font size: - +

MOSCOW – MMC Norilsk Nickel is soliciting pitches from banks to participate in an initial public offering (IPO) of its Russian copper mine, according to people familiar with the matter.

The miner has invited proposals from Russian and international banks, said the people, who asked not to be identified discussing private information. The size of the IPO stake and other details have yet to be decided.

The company continues to plan an IPO of the Bystrinsky mine in 2020 and will update investors on the plan at the end of this year, Nornickel’s press service said by email.

The Bystrinsky mine, 300 km from the border with China, started operations at the end of 2017 after a $1.5-billion investment by Nornickel. The company owns 50% plus one share of the mine and the rest is controlled by private investors, including Nornickel CEO Vladimir Potanin and China’s Highland Fund.

The mine is expected to produce as much as 46 000 t of copper and 212 000 oz of gold this year.

Potanin said in an interview with Kommersant newspaper last year that the Bystrinsky mine could be listed in Hong Kong, Shanghai, Moscow or London.

If the IPO goes ahead, it would be the first by a Russian metals company since 2017, when En+ Group International listed shares in London. En+, formerly controlled by billionaire Oleg Deripaska, was under US sanctions from April 2018 to January.

Edited by Bloomberg

Comments

Showroom

John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 
Magni SA
Magni SA

Magni SA is committed to developing the safest Telehandlers available to our customers for underground and surface mining, construction, forestry,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.14 0.175s - 114pq - 2rq
Subscribe Now