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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (356)	6/27/2001 1:07:54 PM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Norilsk calls current PGM prices "fair" Tuesday June 26, 9:06 PM EDT money.iwon.com NEW YORK, June 26 (Reuters) - RAO Norilsk Nickel (NKEL)deputy general director Alexei Zhdanov said on Tuesday platinum group metals (PGMs) are fairly priced at current levels. "We think the current price is a fair price for both (palladium and platinum)," said Zhdanov in an interview with Reuters. Zhdanov was in New York to speak with investors about the Russian mining giant's recent launch of American Depositary Receipts (ADRs), which began trading June 15 on the American Stock Exchange, as part of the final leg of a major company restructuring. ...................................................................................................................... Given that platinum group metals' (PGMs) contribution to revenues increased in 2000, Zhdanov reiterated Norilsk's plans to increase PGM production by 30 percent over the next five years. He added however that the quality of ore it is mining has been on the decline. "Unfortunately, the amount of rich ore is decreasing and we are starting more and more to use disseminated ore," he said.