Norilsk Board Approves Strategy Review to Sell Overseas Mines
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OAO GMK Norilsk Nickel, the world’s largest producer of nickel and palladium, plans to sell international assets to focus on profitable mines in northern Russia, according to a strategy review agreed by its board.
The company will prioritize operations with potential annual revenue exceeding $1 billion, profit margins of more than 40 percent and resource potential for more than 20 years of output, Pavel Fedorov, Norilsk deputy chief executive officer, told reporters in Moscow.