Nornickel has finalized the sale of its 50% stake in the Nkomati Joint Venture, located in South Africa. The company completed this transaction through its subsidiary, Norilsk Nickel Africa Proprietary Limited (NNAf), transferring ownership to African Rainbow Minerals Limited (ARM), its partner in the joint venture. The deal was concluded after securing all required regulatory approvals in South Africa and meeting other agreed-upon conditions.
Following this sale, Nornickel emphasized its ongoing focus on developing its resource base and Tier-1 assets within Russia. The company also reaffirmed its strategy to divest from non-Tier-1 assets.
“Nornickel announces that through one of its group companies, Norilsk Nickel Africa Proprietary Limited (NNAf), it has completed the sale of its 50% interest in Nkomati Joint Venture (Nkomati mine) to its South African partner in the Joint Venture — African Rainbow Minerals Limited (ARM).The transaction was completed after successfully obtaining the necessary regulatory approvals in South Africa and fulfilling other mutually agreed conditions precedents.”
“With the completion of this transaction Nornickel reiterates its strategic commitment to developing its unique resource base and Tier-1 assets portfolio in Russia as well as its long-term strategy to exit non-Tier-1 assets.”
