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SYDNEY–Russia’s OAO Norilsk Nickel (GMKN.RS), the world’s largest nickel and palladium producer, has hired Barclays PLC (BARC.LN) to sell the majority of its international assets, including mines in South Africa and Botswana, people familiar with the matter said.
The U.K. bank has sent out information to prospective buyers for assets including Norilsk’s 50% stake in the Nkomati joint venture in South Africa. African Rainbow Minerals (ARI.JO) owns the remaining interest and has the right to match any offer for the stake, one of the people said.
The company’s 85% stake in Tati Nickel, which it co-owns with the Botswana government, is also for sale. Both assets were acquired when Norilsk outbid Xstrata PLC to acquire Canada’s LionOre Mining International Ltd. for 6.3 billion Canadian dollars (US$6.1 billion) in 2007.
Another asset on the block is the Norilsk Nickel Harjavalta refinery in Finland, which produces 50,000 metric tons of nickel a year, according to its website.