Russian platinum miner Norilsk is at the centre of rumours of a possible takeover after a Russian newspaper revealed its owner is preparing to sell up.

According to a report in Vzglyad, tycoon Vladimir Potanin, the president of Norilsk's parent company Interros, is ready to sell the mining company to the state-owned diamond firm Alrosa.

The report claims that a meeting has already been held between a number of top level Alrosa members, including Russian finance minister and chairman of Alrosa’s supervisory council, Alexei Kudrin, where the deal was approved in principle.

Experts are claiming that such a deal would see Mr Potanin's Interros receive up to $9 billion for the platinum and nickel miner.

Meanwhile, Norilsk has announced a massive rise in third quarter profits compared to the previous month.

The company revealed a 52 per cent jump in profits compared to the second quarter, which it put down to securities operations in the previous quarter, Reuters reports.

Last month, the company raised its expectations for pgm production, with palladium output increased to 3.08 million ounces from 3.0 million ounces, and platinum production forecast to increase by 30,000 ounces compared to previous estimates.


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