OREANDA-NEWS. July 04, 2012. METALLOINVEST (“the Company”), a leading global iron ore and HBI producer based in Russia, announced that it has increased its stake in Norilsk Nickel, the world’s largest producer of nickel and palladium and one of the leading producers of platinum and copper, from 3.6% to 4.0%.

In May-June 2012, the Company purchased 8.3 million GDRs in Norilsk Nickel (MNOD LI) for a total consideration of USD 126 million. As a result, the Company has returned to the level of shareholding in Norilsk Nickel it held prior to the launch of Norilsk Nickel’s share buy-back programme in the autumn of 2011, when METALLOINVEST disposed of 8.3 million GDRs for a total consideration of USD 255 million.