Friday, August 19, 2005
Norilsk stories today (includes Celtic Resources - Dublin client)
Norilsk Q1 Profit Down
Miner Norilsk Nickel reported a lower first-quarter net profit on Wednesday due to a dip in metals sales.
Norilsk said its first-quarter net profit fell to $446 million from $448 million in the same period a year ago, while sales rose to $1.63 billion from $1.583 billion.
"Metals sales in the first quarter were a bit lower, and that's why the profit number is a bit lower," said Dmitry Usanov, head of Norilsk's investor relations department. (Reuters)
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Norilsk Unit Buys Into Mine
Polyus Gold, the gold unit of Norilsk Nickel, will soon buy into a Siberian gold deposit in which Ireland's Celtic Resources Holding has a 50 percent stake, a source close to the deal said Thursday.
Canada's Barrick Gold, the world's third-largest gold mining company, owns about 10 percent of Celtic.
The source said Norilsk's gold unit, Polyus Gold, would buy a 50 percent stake in the Nezhdaninskoye gold mine in Yakutia from an affiliate of Russian diamond monopoly Alrosa. Norilsk would also take over two smaller deposits, Kuranakh and Kyuchyus, the source said. (Reuters)
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Norilsk Increases UES Stake
Norilsk Nickel, the country's biggest miner, bought 2.51 percent of national power monopoly Unified Energy Systems for $322 million in June, Interfax reported, citing data from Norilsk.
Norilsk now owns 3.52 percent of UES, Interfax said. The miner bought 1.01 percent of the utility in 2003 for $115.6 million. (Bloomberg)
Miner Norilsk Nickel reported a lower first-quarter net profit on Wednesday due to a dip in metals sales.
Norilsk said its first-quarter net profit fell to $446 million from $448 million in the same period a year ago, while sales rose to $1.63 billion from $1.583 billion.
"Metals sales in the first quarter were a bit lower, and that's why the profit number is a bit lower," said Dmitry Usanov, head of Norilsk's investor relations department. (Reuters)
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Norilsk Unit Buys Into Mine
Polyus Gold, the gold unit of Norilsk Nickel, will soon buy into a Siberian gold deposit in which Ireland's Celtic Resources Holding has a 50 percent stake, a source close to the deal said Thursday.
Canada's Barrick Gold, the world's third-largest gold mining company, owns about 10 percent of Celtic.
The source said Norilsk's gold unit, Polyus Gold, would buy a 50 percent stake in the Nezhdaninskoye gold mine in Yakutia from an affiliate of Russian diamond monopoly Alrosa. Norilsk would also take over two smaller deposits, Kuranakh and Kyuchyus, the source said. (Reuters)
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Norilsk Increases UES Stake
Norilsk Nickel, the country's biggest miner, bought 2.51 percent of national power monopoly Unified Energy Systems for $322 million in June, Interfax reported, citing data from Norilsk.
Norilsk now owns 3.52 percent of UES, Interfax said. The miner bought 1.01 percent of the utility in 2003 for $115.6 million. (Bloomberg)
