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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer -- Ignore unavailable to you. Want to Upgrade?

To: Sleeper who wrote (692)	9/9/2000 4:51:18 PM
From: Sleeper	Read Replies (2) \| Respond to of 976

Norilsk Nickel to supply palladium to Japan Source: BBC Monitoring Former Soviet Union - Economic Publication date: 2000-09-09 Excerpts from report by Russian newspaper 'Izvestiya' on 7th September Norilsk Nickel has successfully finished negotiations with Japan, signing contracts for palladium deliveries. However, as the price of this metal remains at a high level, customers are waiting for Russia to start making real supplies on the market. A Norilsk Nickel representative told 'Izvestiya' that "the talks were finished earlier this week and deliveries under some contracts are to commence as soon as this September". This may be exactly when the palladium prices will start declining. Consumers worldwide have long expected the news about the completion of the talks. The point is that this case involves the two largest players on the palladium market. Russia accounts for 70 per cent of supply and Japan represents one third of world demand. The drawn-out consultations turned up the temperature on the world market, which is specifically why the price of palladium again topped 800 dollars per ounce in early August... The essence of the negotiations was to conclude with Japanese manufacturers (automobile companies using palladium for making catalysers) contracts for supplying the metal while bypassing intermediaries. At the same time, Norilsk Nickel officials refused to disclose any details of the talks or the number of buyers. Due to numerous bureaucratic setbacks, Russia was unable to supply its metal on the market for a while. As a result, many consumers terminated their agreements with Norilsk Nickel and decided to buy palladium on the open market. By applying a more flexible system of direct deliveries (some of them imply fixed prices), the problem of recovering the client base can be resolved... Publication date: 2000-09-09 © 2000, YellowBrix, Inc. Oh yea? How much Pd will be delivered? The Russian press is slightly less than a reliable source of information. I'll believe this when and if it happens. Sleeper