Norilsk Nickel Announces the Disposal of Its Goldfields Operations in
MOSCOW -- January 21, 2014
Norilsk Nickel Australia Pty Ltd, a subsidiary of OJSC Norilsk Nickel
(“Norilsk Nickel”), has entered into a definitive agreement to sell its North
Eastern Goldfields Operations in Western Australia (“NEGO”) to Saracen Metals
Pty Ltd (“Saracen”), a wholly owned subsidiary of the Saracen Mineral Holdings
Limited a company listed on the Australian Securities Exchange.
The North Eastern Goldfields Operations in Western Australia include the open
pit Thunderbox gold mine and processing facility (together “the Assets”) and
are a part of Norilsk Nickel’s Australian operations earmarked for the
disposal by Norilsk as it continues to implement its new strategy announced in
Consideration payable by Saracen to Norilsk Nickel will include upfront and
deferred cash components and a royalty upon the commencement of production,
with a total aggregate value of up to A$40 million.
In addition, Saracen will assume all environmental rehabilitation obligations
related to the Assets.
The sale is subject to regulatory approvals and satisfaction of other
customary closing conditions and is expected to close in the first half of
ABOUT MMC NORILSK NICKEL:
MMC Norilsk Nickel, a company incorporated under the laws of the Russian
Federation, is the largest diversified mining and metals company in Russia,
the world's largest producer of nickel and palladium and one of the world's
largest producers of platinum, rhodium, copper and cobalt. In addition to
this, MMC Norilsk Nickel produces a large number of other by-products,
including gold, silver, tellurium, selenium, iridium and ruthenium.
The key production units of MMC Norilsk Nickel’s group in Russia are at the
Taimyr and Kola Peninsulas. MMC Norilsk Nickel international assets include
operations in Finland, Australia, Botswana and South Africa. MMC Norilsk
Nickel’s shares are traded on the Moscow Exchange. ADR’s representing shares
in MMC Norilsk Nickel are traded on the over the counter market in the US and
on the London and Berlin stock exchanges.
Forward looking statements
This announcement may contain "forward-looking statements" concerning Norilsk
Nickel. Generally, the words "will", "may", "should", "could", "would", "can",
"continue", "opportunity", "believes", "expects", "intends", "anticipates",
"estimates" or similar expressions identify forward-looking statements. The
forward-looking statements involve risks and uncertainties that could cause
actual results to differ materially from those expressed in the
forward-looking statements. Forward-looking statements include statements
relating to business and management strategies and the expansion and growth of
Norilsk Nickel’s operations. Many of these risks and uncertainties relate to
factors that are beyond Norilsk Nickel’s ability to control or estimate
precisely and therefore undue reliance should not be placed on such statements
which speak only as at the date of this announcement. Norilsk Nickel’s assumes
no obligation in respect of, and does not intend to update, these
forward-looking statements, except as required pursuant to applicable law.
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