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Norilsk Nickel closed deal on exit from South African JV

"Closing of the deal took place owing to successful obtainment of required permits of South African regulators and according to results of fulfillment of a number of conditions for closing agreed by the parties," Norilsk Nickel said

MOSCOW, July 31. /TASS/. Norilsk Nickel closed the deal of selling the 50% stake in the Nkomati joint venture to its South African partner, African Rainbow Minerals Limited, the Russian mining and metals company said.

"Closing of the deal took place owing to successful obtainment of required permits of South African regulators and according to results of fulfillment of a number of conditions for closing agreed by the parties," Norilsk Nickel said.

Nkomati assets to date comprise a deposit of impregnated copper-nickel sulfide ore, an underground mine and an open pit. Mining and production activities were halted in March 2021. The mine is in the regime of preservation and reclamation since 2021, Norilsk Nickel said.