MOSCOW: MMC Norilsk Nickel PJSC agreed to buy copper-containing ore from Russia’s Rostec State Corp for 67.5bil rubles (US$1.1bil) to counter a production decline.
Rostec is selling concentrate that it received from state reserves earlier this year, chief executive officer Sergey Chemezov told reporters in Moscow. He declined to disclose the amount or details other than the price. Nornickel had mined the ore during the Soviet era and is now keeping it in custody at its Polar Division.
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