Market Chatter: North Copper in Negotiations with Russia's Nornickel to Build Copper Processing Plant in China
North Copper (SHE:000737) is in talks with Russian nickel miner Norilsk Nickel regarding a copper processing deal to shut down a facility in Russia causing heavy pollution, Bloomberg reported Tuesday, citing people familiar with the matter.The plan will involve the transfer of the final stage of copper processing to a plant in Shanxi, China. North Copper will make adjustments to the plant, with the changes expected to take up to two years, the report said.Nornickel was set to build a new smelting facility in Fangchenggang during the first time it proposed copper smelting in China, but the plan did not proceed due to management changes, Bloomberg said.North Copper and Nornickel did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
