Rus News Journal

Victor Vekselberg has not got to ore

IFK Metropol has refused sale of licences for working out of polymetallic deposits in Buryatiya the companies Rusinvestpartner created Renovoj Victor Vekselberg and Rostehnologijami . The parties could not agree about the price. Now Metropol tries to sell actives to other consortium Rostehnology - with metalloinvestom Alisher Usmanov.
that IFK Metropol has refused sale Rusinvestpartneru licences for working out polymetallic svintsovo - zinc deposits Lake (7 million tons of zinc in ore) and Holodninsky (9 million tons of zinc in ore), the general director and the co-owner " has informed; Metropolja Michael Slipenchuk. Lake and Holodninsky the parties have signed the memorandum of acquisition of licences for development in the beginning of July. It was expected that the transaction will be finished in August (see from July, 7th), from outside Rusinvestpartnera as the cores peregovorshchikami representatives " acted; Renovy and managers close to it. Victor Vekselberg`s group, under the informal data, should and finance the transaction. Mister Slipenchuk explains that to the parties it was not possible to agree at the price . To specify details it has refused. Do not open this information and in Rusinvestpartnere recognising that negotiations are stopped under the initiative Metropolja .

Till now Metropol expensively estimated the mining actives. So, under the preliminary FEASIBILITY REPORT Holodninsky there are $1,2 mlrd, and 51 % Lake - about $300 million However in May in interview the basic owner Renovy Victor Vekselberg said that these licences do not stand " so much;. The source close to the transaction, has told that at last stage a subject of negotiations actually was only the deposit Lake (49 % own Swedish Lundin Mining which in June declared an exit from the project). In May of Ministry for Protection of the Environment and Natural Resources has informed on inclusion of Holodninsky lake Baikal in the central ecological zone extraction of metal ores in which is legislatively forbidden. Metropol has requested for Lake too high price - $400 million, - the interlocutor " confirms; . - From this money the company wanted to pay off with Lundin (its share is estimated in $125 million - ) . Rusinvestpartner as he said, offered $200 million taking into account the award almost $100 million

Joint-Stock Company Rusinvestpartner Joint-Stock Company " is created on October, 2nd, 2007 on an equal footing; Renova - the forecast and Joint-Stock Company Concern High technologies R (51 % of actions at FGUP Rosoboroneksport which is included into state corporation Rostehnologii ) .

According to Michael Slipenchuka, after refusal of the transaction with Rusinvestpartnerom Metropol intend to master Lake independently. A source close to not taken place transaction, asserts that IFK expects to involve other buyer on the licence from among the Japanese and Chinese companies. However the most probable applicant, the interlocutor " marks; there can be a consortium metalloinvesta and Rostehnology created for development of the Udokansky copper deposit and realisation of others it is mountain - metallurgical projects. Now partners have begun negotiations about occurrence in a consortium of the profile player - GMK Norilsk nickel . The Controlling stock in the joint venture as speaks a source can get to head metalloinvesta to Alisher Usmanov - its company has won the tender for Udokan. In Rostehnologijah and metalloinveste on a situation do not make comments.

the director of analytical department UBS Alexey Morozov says that copper and zinc - metals of industrial production and are well combined with each other. but Metropol in negotiations with the new buyer can face the same problem: disagreements on a sum of transaction - the expert considers. Zinc from the beginning of year has fallen in price about $2,5 thousand for ton to $1,7 thousand for ton. Under forecasts UnicreditAton, the average price for this metal till 2012 will not exceed $1,8 thousand for ton. Besides, sources in the market notice that Metropolju it is necessary to hurry with attraction of the strategic investor from - for restrictions which imposes on nedropolzovatelja the licence agreement. On its conditions ore extraction on Lake should begin already in the second quarter 2009. Investments into working out of deposits MVS are estimated in $1 billion