Nornickel has finalized the sale of its 50% stake in the Nkomati Joint Venture, located in South Africa. The transaction was carried out through Norilsk Nickel Africa Proprietary Limited (NNAf), a group company of Nornickel. The buyer is African Rainbow Minerals Limited (ARM), which was already a partner in the joint venture.
The sale followed the receipt of required regulatory approvals from South African authorities and the fulfillment of other agreed-upon conditions between the parties.
Following this divestment, Nornickel reaffirmed its strategic focus on developing its resource base and Tier-1 assets portfolio within Russia. The company also restated its long-term strategy to exit non-Tier-1 assets.
“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,” according to a statement from the company.
