Russia's Nornickel to cooperate with Russian Platinum on Arctic deposit

Credit: REUTERS/SERGEI KARPUKHIN

Russian mining giant Norilsk Nickel (Nornickel) and Russian Platinum, backed by Russian businessman Musa Bazhaev, will cooperate in developing the Chernogorkoye platinum deposit in Siberia, Russian Platinum said on Thursday.

MOSCOW, July 16 (Reuters) - Russian mining giant Norilsk Nickel (Nornickel) GMKN.MM and Russian Platinum, backed by Russian businessman Musa Bazhaev, will cooperate in developing the Chernogorkoye platinum deposit in Siberia, Russian Platinum said on Thursday.

Nornickel would offer Russian Platinum access to its infrastructure near the Arctic city of Norilsk, Russian Platinum said in a statement. Nornickel would have a long-term offtake agreement for metals produced in this deposit, it added.

(Reporting by Polina Devitt; Editing by Edmund Blair)

((Polina.Devitt@thomsonreuters.com; +7 495 775 12 42; Reuters Messaging: polina.devitt.reuters.com@reuters.net))

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