Tuesday, August 5, 2008

Russia and Resources

From Forbes ...

In what would be one of the biggest mining deals in Russia this year, the metals tycoon Mikhail D. Prokhorov announced on Tuesday that he would sell 16.6 percent of the Arctic mining giant Norilsk Nickel to his former business partner, Vladimir O. Potanin.

The two tycoons agreed last year to divide their holdings in Norilsk, a Russian factory founded by Stalin, whose value soared along with high commodity prices. Norilsk is the world’s largest producer of nickel, a key alloy in stainless steel.

Keep an eye on Russia and China as Pluto gets close to its ingress into Capricorn. It's not a coincidence that the Olympics are in China this year.

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