Wednesday, 2nd February 2005 (2396 views)

Mining firm Norilsk Nickel has announced that the company is to take part in an auction for the Bamskoe deposit in Russia's Far East.

If successful, the company hopes to increase its resources base, with deposit resources estimated at 2.6 million ounces, according to Neftegaz.

Norilsk produces a host of precious metals including gold, nickel and platinum for industrial needs.

The company is based in Russia, but has sites in London, Switzerland and the US.

Other companies up for bidding include the Ural Mining and Metallurgical Company.

 

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