Norilsk Nickel Plans To Cut Investments

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.

Click here to read the full Reuters report.