Ural Mining & Metallurgical Co., Russia’s largest copper producer, will compete with OAO Norilsk Nickel (GMKN) for metals deposits in central Russia’s Voronezh region, Interfax reported, citing people it didn’t identify.
The companies submitted bids for Elanskoye and Elkinskoye deposits containing as much as 448,000 million metric tons of nickel resources and 60,000 tons of copper, the Moscow-based newswire said. The results will be announced on May 15, it said. Ural Mining’s press office declined immediately to comment.
Norilsk, Russia’s largest mining company, said Feb. 27 it may bid for the deposits and invest as much as 50 billion rubles ($1.7 billion) in their development.
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