Anglo American and Severstal Resurs announce alliance
05 October, 2006
Anglo American and Severstal are pleased to announce an agreement, signed today, to establish an alliance to jointly explore deposits of nickel, copper and zinc in Russia, initially focusing on the Republic of Karelia and the Murmansk Oblast, with the ultimate intention of jointly developing such deposits in these regions and elsewhere in Russia.
Commenting on the alliance, Simon Thompson, a director of Anglo American and chairman of the Exploration Division, said: “We are delighted to establish this exploration joint venture with Severstal and look forward to working with them to develop new base metal projects in Russia”.
Roman Deniskin, head of mining division of Severstal, said: “We strongly believe in Russia's prospects in minerals exploration and development. Severstal is excited to be going forward in this with such an experienced partner as Anglo American”.
Severstal is one of the leading global vertically integrated steel producers with presence in Russia, EU and USA.The mineral resources subsidiary of Severstal includes iron ore and coking coal mining operations in the North-Western and Siberian regions of Russia. (www.severstal.com)
Anglo American plc is one of the world's largest mining and natural resource groups. With its subsidiaries, joint ventures and associates, it is a global leader in platinum group metals, gold and diamonds, with significant interests in coal, base and ferrous metals, industrial minerals and paper and packaging. The group is geographically diverse, with operations in Africa, Europe, South and North America, Australia and Asia. (www.angloamerican.co.uk)