OREANDA-NEWS. January 28, 2007. The Federal Antimonopoly Service (FAS Russia) approved the petition of a group of persons, including: the "Norilsky Nickel" Mining and Metallurgical Integrated Works" OJSC, "Norilsk Supporting Complex" Ltd., "Zapolarye Construction Company" Ltd., "Norilsky Industrial Transportation", "Zapolarye Sanatorium" Ltd., "Norilsknickelremont" Ltd., "Norilsk-Telecom" Ltd., "Taimyr Fuel Company" CJSC, "Norilskgeologia" Ltd., and "Taimyr Airline" OJSC on purchasing 60,15% of the fixed production-related assets and intangible assets of the "Zavenyagin Norilsky Nickel Mining and Metallurgical Integrated Works" OJSC, and issued a relevant determination, reported the press-centre of FAS Russia.

As a result of the transaction, the group of persons including the "Norilsky Nickel" Mining and Metallurgical Integrated Works" OJSC and the "Kolskaya Mining and Metallurgical Company" OJSC will maintain the dominant position on the market of unprocessed unalloyed nickel and nickel products (further on referred to as the Products) in the Russian Federation.

In its determination, FAS Russia, in particular, makes provisions for applying exchange prices of nickel. Russian consumers will get unprocessed unalloyed nickel at the LME (London Metal Exchange) price with maximum 3% mark-up, which conforms to the established business practices.

The price of unprocessed unalloyed nickel will be set in such a manner that product margin, being the price component on top of LME (London Metal Exchange) and transportation expenses, will not grow up by more than 5% per month.

As stated by the Head of the FAS Russia Industry Control Division, Alexey Ulyanov, the determination bears great significance, taking into consideration strategic importance of nickel for the Russian defense industry. Provisions set in the determination guarantee Russian nickel consumers non-discriminatory conditions and reasonable market prices.