Firm Ovoca Resources has confirmed it has acquired a majority stake in the Russian pgm firm Norplat.

The deal, which will see Ovoca secure a 78 per cent holding in the firm, heralds a new focus on Russian development.

In a statement the firm told RTE: "The board believes that Norplat's assets, including their exploration properties and assets in Russia, will complete the transformation of the company into a more geographically diversified base and precious metals exploration company with an experienced management team and a strong balance sheet."

Ovoca will purchase 39.5 million new ordinary shares, with the restructuring facilitating access to the Kola Peninsula in the north-west of the country.

The firm will now assume the interests of Norplat, with gold and nickel among the other metals the firm will search for.

Russia has become an increasingly attractive proposition for some pgm firms, with platinum industry veteran Brian Gilbertson last month identifying Russia as a crucial area of development for the mining industry in the coming years.

The ex-BHP Billiton chief executive said that the supposed political risks of ventures in the region - with state intervention and restrictions on issues such as pgm data scaring off some investors - should not stop firms from exploring the country.

He argued that in fact the Russian government had a similar approach to the South African administration - suggesting that both had a healthy concern for preserving the profits of their natural resources.