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N e w s
JULY 2, 2001 ![]() Stockholm Declines Almazny Bereg Company Suit
Price on platinum and palladium fell after the announcement of possible obtaining of qoutas by Norilsky Nickel for a term of 5 years. On June 28 prices on these metals were stable within the whole day. Traders say this is an absolutely normal reaction of the market to such news. According to Yuri Kotlyar, Chairman of the Director's Board the decree signed by the President on June 21 changes dramatically current situation.
Blischenko and Partners Consulting Company told Kommersant that Stockholm Arbitrary Court declined lawsuit of ADC on the ground that the case is beyond its competence. ADG lawers were sure of this decision.
Diamond reserves of Verkhotina are estimated at $5.5 bn. Owners of Almazny Bereg company are AGD (ArkhangelskGeolDobycha) - 50%, FAD Company - 10% and ADC (Archangel Diamond Corporation, of Canada) owned by Oppenheimer family - 40%. Biggest shareholders of AGD are LUKoil (74,09%) and Rosneft (25,5).
Source: Finmarket
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