MOSCOW, June 28 (Reuters) - Russian billionaire Vladimir
Potanin, majority shareholder in mining giant Norilsk Nickel
(Nornickel), said on Monday the impact of new duties
on the company was expected to be around $500 million, the RIA
news agency reported.
Russia has introduced temporary new export taxes for steel
products, nickel, aluminium and copper which will cost producers
$2.3 billion between Aug. 1 and Dec. 31.
Potanin also said he was in ongoing talks with Nornickel's
second-largest shareholder, Rusal, about the fate of
their shareholder agreement, which expires in early 2023. The
agreement covers matters such as dividend policy.
The parties' approaches continue to differ, but "there is no
tension", he said. The shareholders will work out a new
long-term dividend formula before the agreement expires, he
"A formula that would be valid for five years would be
sensible," Potanin was cited by the Interfax news agency as
saying. "I assume that by the time the agreement is finalised,
such a formula will have been worked out, and we will be able to
give such additional comfort to investors."
(Reporting by Anastasia Lyrchikova
Writing by Polina Ivanova Editing by Jan Harvey and Mark Potter)