Norilsk Sees Trafigura as Project, Not Equity Partner

Trading house Trafigura has little future as a shareholder in Russian group Norilsk (MCX:GMKN) but may become a partner in international projects.

The market news is quoted as saying,

Norilsk said last year Trafigura had bought an 8 percent stake in it at the height of a dispute between Potanin and aluminum giant RUSAL 0486.MM over control at Norilsk.

Trafigura founder Claude Dauphin later became a non-executive director at Norilsk. At first, it looked like a clash of the global trading titans on Russian soil, which holds some of the world’s richest natural resource reserves.

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