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N e w s
SEPTEMBER 14
Norilsk Nickel is displeased with the delay in the laying-down of the CBR permission to acquire the stake in Almaz USA as the Almazyuvelirexport sub, first deputy director general said.
The acquisition of the stake will permit to rule the palladium market in USA which is stipulated in the Norilsk Nickel strategy and can raise the export potential of Russia. The maintenance of the US palladium market will permit the Russian budget system to forecast tax receipts.
The documents were submitted to the CBR and Ministry of Economics in Aug. 1999. The company received the positive response from MinFin and Ministry of Economics.
But the precise term of the company's participation in the issue is uncertain with the documents being held back with CBR for 9 months by now.
Source: AK&M
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