According to a Memorandum, signed today by Vladimir Potanin and Alisher Usmanov, the Sides decided to combine forces in order to invest in developing of the mining industry in Russia and abroad with a view to create in the next five years a world leader in this sector.

The Sides estimate joint investments to be around $50-60 bln. Exploration of the Udokan deposit would become one of these investment projects.

Considering the high potential for the growth of Norilsk Nickel value, Gallagher company expressed its intention to acquire up to 10% in this company. In its turn Interros considers the possibility to buy 25% plus one share in Metalloinvest holding and intends to file an appropriate request to Russian antitrust authorities.

Relying on incontestable advantages of the assets consolidation in mining industry Interros and Gallagher, being major shareholders of Norilsk Nickel and Metalloinvest, agreed to invite Basic Element Company to join partnership for establishment of a global mining company.