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20 NOVEMBER 2004  

MMC Norilsk Nickel has bought the “wrong” gold

Gazeta.ru reports that Norilsk Nickel’s purchase of SA Gold Fields 20% is being questioned. The Central Bank of Russia doubts the legality of huge money sum exporting from the country. However, no official announcements have been still made.

According to Guardian, the Central Bank of Russia is now investigating the agreement of Norilsk Nickel and Gold Fields that was signed in spring 2004. The press service of the Russian company has not commented the situation except for the statement that all the legislative conditions of the agreement were fulfilled.

Thus the interests conflict of MMC Norilsk Nickel, Gold Fields and Harmony is becoming tenser.



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