Billionaire Mikhail Prokhorov, ranked Russia's 10th richest man by Forbes, who said March 15 he will resign from the posts of general director and president of Norilsk Nickel, told journalists in Krasnoyarsk that up to 20% of all produced energy should fall on the hydrogen energy industry.
Prokhorov also said Norilsk Nickel will also implement another two projects in the Krasnoyarsk Territory in Siberia.
Earlier, Norilsk Nickel managers said a company with a capitalization of up to $10 billion would be created on the basis of the nickel giant by the end of 2007, and that WGC-3 would be included in it.
Prokhorov will resign April 2. On March 16, the board of Norilsk Nickel approved Denis Morozov as a new general director.
Morozov was a deputy general director of Norilsk Nickel and is a board member of Polyus Zoloto gold producer.
Morozov, who will start his duties as the new general director April 3, said Friday Nornickel will not start to actively buy up assets abroad.
In late January, Prokhorov announced that he would sell his 27.4% stake in the world's largest nickel producer to Interros co-owner and business partner Vladimir Potanin, and resign as Norilsk Nickel's director general.
Prokhorov said earlier he decided to consolidate his energy assets, developing both traditional and alternative energy sources.
He said a week ago that he was resigning earlier than expected "as it is clear that occupying executive posts in Norilsk Nickel, while forming a new business.... is impossible, since it will naturally result in a conflict of interest."
Prokhorov retains shares in other Interros assets - Polyus Zoloto gold producer, Rosbank, Prof-Media holding, Open Investment, and Russia's largest engineering company Power Machines - and intends to manage them through a new investment vehicle.
Norilsk Nickel is one of the world's largest precious and non-ferrous metal producers, accounting for more than 20% of the world's nickel output, and over 10% of cobalt and 3% of copper. The company produces 96% of Russia's nickel, 55% of its copper and 95% of its cobalt.
In 2006, Norilsk Nickel produced 3.164 million ounces (98.4 metric tons) of palladium, compared with 3.133 million ounces (97.4 metric tons) in 2005, and 752,000 ounces (23.4 metric tons) of platinum, compared with 751,000 ounces in 2005.
