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Norilsk Nickel has agreed to sell a 13 per cent stake in a Siberian copper project to a consortium of Chinese investors, as Russian companies increasingly turn to Beijing to help develop new natural resources developments.
諾里爾斯克鎳業(Norilsk Nickel)已同意把一個西伯利亞銅礦項目13%的股權出售給中國投資者組成的財團。目前俄羅斯企業日益求助于中國幫助開發新的自然資源開采項目。
Analysts said the $100m deal would mark the first significant equity injection by Chinese investors into a Russian mining project.
分析師們表示，這筆1億美元的交易將標志著中國投資者首次對俄羅斯采礦項目進行重大股本注資。
Pavel Fedorov, deputy chief executive of Norilsk, the world’s largest producer of nickel and the third-largest global mining company by market capitalisation, told the Financial Times that the deal would be the first sign of greater co-operation with China. He said the company had also signed its first renminbi-denominated loan facility for more than 4.5bn renminbi ($700m) with banks including China’s ICBC.
諾里爾斯克是世界最大鎳生產商，也是按市值排列的全球第三大礦業公司。該公司副首席執行官帕維爾·費奧多羅夫(Pavel Fedorov)對英國《金融時報》表示，這筆交易將是同中國加大合作的第一個跡象。他說，該公司還與包括中國工商銀行(ICBC)在內的幾家銀行簽署了首個人民幣計價的貸款安排，額度超過45億元人民幣（合7億美元）。
“This project is leading to a reassessment of Norilsk by key Chinese financial institutions,” said Mr Fedorov. “It’s a symbolic development that opens a new stage in our dialogue.”
“這個項目正促使中國幾家重要金融機構重新評估諾里爾斯克公司，”費奧多羅夫表示，“這是一個具有象征意義的發展，開啟了雙方對話的新階段。”
Norilsk’s deal comes as Russian natural resources groups are increasingly courting Chinese investors as falling commodity prices and western sanctions over Ukraine have made it more difficult to finance new projects.
諾里爾斯克交易達成之際，俄羅斯自然資源集團日趨討好中國投資者，原因是大宗商品價格下跌和烏克蘭沖突導致的西方制裁加大了新項目的融資難度。
Sinopec, one of China’s state-owned oil groups, this month closed a deal to buy a 10 per cent stake in Sibur, Russia’s largest petrochemicals company, for $1.3bn. Russia is also looking to China to provide the bulk of the financing for its flagship Yamal liquefied natural gas project.
中國國有石油集團之一中石化(Sinopec)在12月達成協議，擬斥資13億美元，收購俄羅斯最大石化企業西布爾(Sibur) 10%股份。俄羅斯還正在爭取由中方為其亞馬爾(Yamal)液化天然氣(LNG)旗艦項目提供大部分融資。
The Norilsk deal for its Bystrinksy project is the first time Chinese investors have bought an equity stake in a Russian mining project as opposed to a Russian miner, said analysts.
分析師們表示，雙方就諾里爾斯克的Bystrinksy項目達成協議，是中國投資者首次入股俄羅斯采礦項目，而非俄羅斯礦商。
China Investment Corp, China’s sovereign wealth fund, in 2013 took a 12.5 per cent stake in potash miner Uralkali, but sold it in September this year. A subsidiary of Zijin Mining, a private Chinese group, has since 2006 had a licence to develop a Siberian lead and zinc deposit.
中國的主權財富基金——中國投資有限責任公司(CIC)曾在2013年購得俄羅斯烏拉爾鉀肥(Uralkali)的12.5%股份，但在2015年9月出售了這筆股份。中國民營集團紫金礦業(Zijin Mining)的一家子公司自2006年以來持有開發西伯利亞一個鉛鋅礦的執照。
Norilsk did not disclose the identities of the Chinese investors behind the deal, but Mr Fedorov said they included “some of the premier Chinese private equity and state-owned investment corporations”.
諾里爾斯克沒有透露參與這筆交易的中國投資者身份，但費奧多羅夫表示，這些投資者包括“中國一些知名的私募股權和國有投資公司”。
The Bystrinsky copper project, located in Siberia’s Baikal region just 300km from the Chinese border, is due to start production in 2017, ramping up to between 60,000 and 70,000 tonnes of copper per year.
Bystrinsky銅礦項目位于西伯利亞的貝加爾地區，距離俄中邊境僅300公里，該礦計劃在2017年投產，逐漸達到每年6萬至7萬噸銅的產量。
Norilsk has already invested up to $700m in the project, out of a total estimated cost of $1.6bn, said Mr Fedorov.
費奧多羅夫稱，諾里爾斯克已向該項目投入高達7億美元，總開發成本估計達到16億美元。
He said the decline in the rouble had made the project more attractive. “The cost position has been considerably improved through the weaker rouble,” he added. “At current copper prices it still is a very profitable project.”
他說，盧布匯率下降已使這個項目更具吸引力。“盧布走弱已經使成本形勢顯著好轉，”他補充說，“按目前銅價計算，這仍是一個非常有利可圖的項目。”
Mr Fedorov said Norilsk has had three offers from Chinese companies to sign supply deals for the mine’s production.
費奧多羅夫表示，諾里爾斯克已從中國企業接到三份要約，都是要簽署該礦所產礦物的供應協議。
Kirill Chuyko, analyst at BCS Financial, said Norilsk had access to other sources of financing, but appeared to be attempting to build its relationship with Chinese investors.
BCS Financial分析師Kirill Chuyko表示，諾里爾斯克有其他資金來源，但似乎想要與中國投資者構建關系。
Thanks to its extremely low production costs, added Mr Chuyko, “if a nuclear war starts only cockroaches and Norilsk Nickel will be able to survive”.
Chuyko補充說，得益于極低的生產成本，“如果爆發一場核戰爭，只有蟑螂和諾里爾斯克鎳業公司將能夠生存下來”。
