Russia’s Norilsk Nickel, the world’s leading palladium producer, said in a statement on Wednesday it is planning a joint venture with Russian Platinum, to expand mining of metals belonging to the platinum group.
Nornickel’s co-owner, billionaire Vladimir Potanin, was cited by RIA news agency as saying he expects to attract 250 billion roubles ($4.4 billion) in investment for the project, which the company said in its earlier statement would produce between 70 to 100 tonnes of platinum-group metals per year.