Norilsk Could Sell Stillwater

- May 24th, 2010

The world’s No. 1 nickel and palladium miner, Norilsk Nickel (GMKN.MM), may sell its 51.3 percent stake in Stillwater Mining Co (SWC.N). This is currently the only U.S. producer of palladium and platinum.
Vladimir Strzhalkovsky, CE of Norilsk is quoted saying:
“Stillwater was bought with the expectation that it would bring strong synergies.  There were a lot […]

The world’s No. 1 nickel and palladium miner, Norilsk Nickel (GMKN.MM), may sell its 51.3 percent stake in Stillwater Mining Co (SWC.N). This is currently the only U.S. producer of palladium and platinum.

Vladimir Strzhalkovsky, CE of Norilsk is quoted saying:

“Stillwater was bought with the expectation that it would bring strong synergies.  There were a lot of nuances in the sales agreement that limited us to being a portfolio investor. Therefore, we are dependent on how effective the management of Stillwater is. Last year, they worked badly. This year the situation is better, but not as we would want.”

Click here to access the entire news

Leave a Reply