SAR Saracen Mineral Holdings Limited

  By Lukas I. Alpert 
 

MOSCOW--OAO Norilsk Nickel (GMKN.RS) is selling its Thunderbox gold mine and processing facility in Western Australia to Saracen Metals Pty Ltd. for 40 million Australian dollars ($35.3 million), Norilsk said on Tuesday.

The world's largest nickel and palladium producer put the mine up for sale last year as it shed noncore assets to focus on profitable operations in Russia.

Saracen, a subsidiary of Saracen Mineral Holding Ltd. (SAR.AU), also assumes all "environmental rehabilitation obligations," Norilsk said.

The deal is expected to close in the first half of 2014 pending regulatory approval.

Write to Lukas I. Alpert at lukas.alpert@wsj.com

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