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PrintNorilsk Nickel, the world's largest producer of nickel and palladium, may consider swapping shares in exchange for control of the vast untapped Udokan copper deposit in Siberia, Norilsk Chief Executive Vladimir Potanin said Monday.
Russia's state defense corporation Rostec has proposed swapping control of the deposit for a 4% share in Norilsk. Rostec, together with billionaire Alisher Usmanov's iron ore giant Metalloinvest Holdings, controls the licenses for developing the copper deposit on the Chinese border in far eastern Russia.
Mr. Potanin also said that a deal with Millhouse LLC, controlled by Russia billionaire Roman Abramovich, will be closed by April 15, as planned.
Mr. Abramovich agreed in late 2012 to buy a $1.49 billion stake in Norilsk Nickel, ending a four-year shareholder dispute and cementing a truce between the company's squabbling billionaire partners.
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