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. Last Updated: 07/27/2016

Norilsk Gets Deadline

Workers at Norilsk Nickel, the world's biggest producer of the metal, have given management until Feb. 20 to settle some 1 trillion rubles ($180 million) in wage arrears, failing which they will ask the government to intervene, Interfax reported.


The agency said the workers were also demanding a salary increase.


If the management refuses, the workers said they would ask the government to fire the managers and withdraw from UneximBank the right to manage the company's shares, Interfax said.


UneximBank, which used to be run by First Deputy Prime Minister Vladimir Potanin, concluded a lucrative contract with the government in 1995 under which the bank loaned the government $170 million in exchange for the right to manage Norilsk shares.


Last year, President Boris Yeltsin agreed to reschedule Norilsk's debts.