Nornickel’s plans will proceed without Deripaska, company says

The development plans in place at Russian nickel producer Nornickel will not be adversely affected by the resignation last year of major shareholder Oleg Deripaska, according to company president Vladimir Potanin.

Russian news agency Tass reported Potanin’s comments, made on Thursday June 6 on the sidelines of the St Petersburg International Economic Forum (SPIEF). Potanin and Deripaska had battled for control of the giant nickel and palladium producer, a contest that was decided in November 2018 when the London Court of Appeals ruled in Potanin’s favor. Potanin’s firm, Interros, owns 33.8% of Nornickel while Deripaska’s UC Rusal owns 27.8%. Deripaska had resigned as director of Rusal in May 2018 in an effort to induce the United States to remove its...

Published

Orla O'Sullivan

June 10, 2019

14:34 GMT

New York