Korea Zinc pulls $1.8 billion share sale plan after probe
The world’s largest zinc smelter has been caught up for months in a fight between its largest shareholders over strategy and direction.
Nornickel said on Tuesday it expected to start production at its water-hit Oktyabrsky mine in early May and for full output to be restored during the first half of the same month.
“We have now started pumping out water and are working on restoring production activities,” Nikolay Utkin, Nornickel’s senior vice president, said on the company’s Telegram channel.
Production at the Taimyrsky mine, which has also been affected by water, would begin in June and reach full capacity in the second half of the month, he said.
(By Anastasia Lyrchikova and Alexander Marrow; Editing by Andrew Osborn)
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