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Reuters reported Norilsk Nickel (LSE:MNOD) plans to cut its 2012 investments by 10 percent due to weak metals markets.
Reuters reported Norilsk Nickel (LSE:MNOD) plans to cut its 2012 investments by 10 percent due to weak metals markets.
As quoted in the market news:
The company expects to reduce its 2012 investment programme to 95 billion roubles ($3.06 billion), Alisa Fialko said on Monday.
Global prices for nickel, which accounts for half of Norilsk’s revenue, have fallen about 4 percent so far this year, while copper prices have risen 8 percent and palladium prices have been broadly stable.