Norilsk Nickel is considering ways in which to grow its position in South Africa following its acquisition of LionOre.

The firm, which is the largest producer of platinum group metals (pgms) outside Africa, believes that the conclusion of the LionOre deal provides it with a good platform from which to boost its presence in South Africa.

According to Mining Weekly, Norilsk's head of mining, Tav Morgan, explained: "We would look to leverage the resources that we have in Russia to meet the continued strong growth in the pgm market."

While he added that Russia would be the company's "first priority", he did not rule out the possibility of future acquisitions in the platinum sector.

Mr Morgan commented: "We are a major pgm producer and we are looking for further acquisitions internationally."

Source:

Norilsk integrates African ops after LionOre deal, may turn acquisitive later, 21/8/07
http://www.miningweekly.co.za/article.php?a_id=115090

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