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PrintNORILSK Nickel may sell mines in Africa and Australia following a board review in which the Russian group is to focus on its profitable mines, said Bloomberg News.
Citing Pavel Fedorov, Norilsk deputy CEO, Bloomberg News said the company would priortise operations with potential annual revenue exceeding $1bn, profit margins of more than 40%, and resource potential for more than 20 years of output.
“Only the Polar division assets in Taimyr fully match the criteria,” Fedorov told Bloomberg News.
Assets in Australia and Africa don’t meet the standard and will be sold, he said. Norilsk is marketing those assets and has “received considerable interest.”
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