Russia’s Central Bank to Sell Palladium to Norilsk Nickel?

Norilsk Nickel (MCX:GMKN) stated that Russia’s central bank has agreed “in principle” to sell some of its palladium stocks to a fund of investors led by the company, according to Reuters.

As quoted in the publication:

Norilsk Nickel, the world’s largest palladium producer, proposed such a deal to the central bank last year as part of its efforts to guarantee stock availability for long-term customers and to increase market transparency.

“We recently found out that the central bank had taken a positive decision,” Vladimir Potanin told reporters.

The central bank declined to comment.

Click here to read the full article from Reuters.