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Russia's nickel giant receives approval for purchase of LionOre

In Hungary

Russia's nickel giant Norilsk Nickel has received all necessary regulatory approval for the purchase of Canada's leading gold and nickel producer LionOre, the Russian company said in a statement Tuesday. 

“We look forward to LionOre shareholders tendering their shares before the expiration of our offer on June 28, after which Norilsk Nickel intends to complete the acquisition of all outstanding shares of LionOre,” said Denis Morozov, Norilsk Nickel's director general. The deal worth some $6.3 billion was earlier approved by regulators in a number of other countries.

LionOre produces nickel, gold, copper, cobalt, and platinum metals in Australia, Botswana, and South Africa. Norilsk Nickel is the largest mining and metals company in Russia, the world's largest producer of nickel and palladium, and one of the world's largest producers of platinum and copper. (rian.ru)

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