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21 Nov, 2008 06:31

Norilsk Nickel looks for Government to step in

The new boss of the world's biggest nickel miner wants the Government to buy into Norilsk Nickel then sell out when the credit crunch ends.

Market tracker RUXX Index says the government's set to take Rusal's 25 per cent stake in the troubled metals firm as a first step to nationalisation.

In an interview with Business RT, Norilsk Nickel CEO, Vladimir Strzhalkovsky, claimed that was right for Nornickel in current conditions.

“I think the state buying into our firm's a positive move. Especially since the government will only give us loans if they get politicians on our board. But that's just a temporary measure in the global financial crisis, not a permanent step. ”