Norilsk remains Russia’s largest diversified mining company and the world’s biggest producer of Nickel and Palladium. It is also one of the biggest producers of Platinum, Rhodium, Copper and Cobalt. Norilsk also produces other by-products such as Gold, Silver, Tellurium, Selenium, Iridium and Ruthenium.

The important production centers are located at the Polar and Kola Peninsulas of Russia. Additionally, the company has assets in Australia, the USA, Finland, South Africa and Botswana.

Commenting on the pricing exercise, the General Director and Chairman of Norilsk Mr. Vladimir Strzhalkovsky said: “We are very pleased at the level of demand for the secondary offering of shares of Stillwater Mining Company, which translated into the tight discount achieved as compared to the market share price at the time of announcement of secondary offering”.

Explaining the reason behind the stake sale, he said: “This transaction will allow the Company to monetize its stake in Stillwater Mining Company in the most efficient way, and will result in a substantial gain for the Company and our shareholders. The sale of our holdings in Stillwater Mining Company is a scheduled step of our strategy to focus on core operations of Norilsk Nickel”.

Emphasizing that the company wishes to expand in North America, he added: “In the meanwhile, our customers in the United States remain very important to us and we will continue on developing sales of platinum group metals into North American market.”

The Stillwater mine in Montana mountains