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By John Helmer in Moscow Russia’s aluminium and nickel oligarchs go to the mat for state bank funding. A fierce battle has begun for access to state bank cash to determine who ends up in control of Russia’s largest metal and mining companies, Norilsk Nickel and United Company Rusal. Rusal spokesman Vera Kurochkina disclosed officially […]

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By John Helmer in Moscow Norilsk Nickel investigation of asset spinoff leads to questioning of shareholder intention Mikhail Prokhorov’s holding company, Onexim, has officially confirmed that Mikhail Prokhorov will not proceed with the asset division agreement he signed on September 14 with former partner, Vladimir Potanin. A statement issued to Mineweb by the holding’s chief […]

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By John Helmer in Moscow Russia’s biggest iron-ore miner defers public share sale due to global cash crisis Metalloinvest, the Russian steel and iron-ore holding controlled by Alisher Usmanov, has failed to fix an international market value for listing and sale of its shares. This is the market interpretation after an announcement on Thursday by […]

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By John Helmer in Moscow Polyus Gold waits for the green light – or is it red? Glenn Gould, the world’s greatest pianist, and a notorious automobile driver, once admitted: “It’s true that I’ve driven through a number of red lights on occasion. But on the other hand, I’ve stopped at a lot of green […]