"NORILSK NICKEL" VICE-PRESIDENT REPORTS COMPANY'S PLANS

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London, April 20 (RIA Novosti) - The "Norilsk Nickel" company will buy power assets and will participate in the auction to get the right to develop the "Sukhoi Log" gold mine, said Vice-President Leonid Rozheckin speaking at the Russian Economic Forum in London on Monday.

"We will participate in the reorganization of the Russia energy industry since the energy supply is vital to us," said Rozheckin.

According to him, the company is also interested in the "Sukhoi Log" gold mine auction. When the Government organizes the auction we will participate in it," said the top manager. He said that with this end in a view the company had purchased the "Lenzoloto" enterprise which had the unique infrastructure for the "Sukhoi Log" development.

"The gold prices will increase," said the representative of the "Norilsk Nickel" company. "Russia has gold resources of the world quality and that is why the company keeps on buying them for 'enticing' prices," he noted.

The "Norilsk Nickel" vice-president reported that the company intended to increase share holding of the South African company "Gold Fields". Earlier in this month Norilsk Nickel bought 20 % of the "Gold Fields" company, which is the world's fourth gold-miner.

According to Rozheckin, the non-ferrous metals prices will also increase in the near future. In his opinion, the present-day situation at the non-ferrous metals market testifies to it. "2003 was a year of good metal prices. The prices will remain for a long period," said Rozheckin.

"The demand for platinum, nickel and palladium is increasing and will increase in China and India, whose markets Norilsk Nickel is successfully exploring," said Rozheckin. According to him, the company earned $ 1 billion last year selling platinum and palladium. "In the Russian market Norilsk Nickel has increased the copper selling by 25 % thereby contributing into the growth of the Domestic product," noted the top manager.

Speaking about purchasing 55 % of the American "Steelwater" mining company, Rozheckin informed that during the year its stock had increased by 100 %.

The vice-president also said that in February the company paid $300 million dividends to the shareholders.

Rozheckin considers the lack of nickel production to be the only weak point since it is behind the demand. The demand for nickel increases by 3.5 % a year and the company sold all the stored nickel last year. The company sold more than 300,000 metric tons of nickel including 70,000 tons from its reserves.

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