Norilsk Nickel is set to cut investments in foreign assets by 48% as well as lay off up to 1500 employees working for the company’s subsidiaries abroad, reports the Vedomosti newspaper.
      
      Earlier Norilsk Nickel announced it temporary shut down three mines in Australia. Despite economic instability the company doesn’t plan to reduce nickel production in 2009, however, the amount of copper, platinum and palladium produced next year will be shortened.
      
      Norilsk Nickel is the leading nonferrous metals producer in Russia and one of the world’s largest. For the past 6 months the market value of the company listed in the RTS has halved.
      
      source:
      www.lenta.ru