Norilsk Nickel to Bid for Nickel, Copper Deposits

Bloomberg reported Norilsk Nickel (LSE:MNOD) is considering bidding for nickel and copper deposits in Russia to the tune of $1.7 billion.

As quoted in the market news:

The deposits are Elanskoye and Yolkinskoye in the region of Voronezh, according to a regulatory statement from the company today, about 534 kilometers (332 miles) south of Moscow.

They form Russia’s last large untapped nickel province, and have about 447,000 metric tons of nickel reserves.

Click here to read the full Bloomberg report.