CORRECTED - UPDATE 1-Russia Norilsk to bid for giant copper field
(Corrects to "extractable copper metal" in paragraph six)
(Adds background)
MOSCOW, April 29 (Reuters) - Russia's metals giant Norilsk Nickel (GMKN.MM) said on Tuesday it was going to take part in a tender to develop the large Udokan copper field.
"The board has decided to launch a bid for the Udokan field," a Norilsk spokeswoman said. "We will act in accordance with the tender conditions."
She did not give more details.
Udokan is located in the eastern Siberian region of Chita, where Norilsk is developing several separate copper deposits. It is large enough to be designated a "strategic" metals deposit by the Russian government, and thus off-limits to foreign control.
Russia will award the Udokan copper field at a contest on July 17. The starting price for the contest is 4.5 billion roubles ($190.7 million) and all bidders must register their interest by May 14.
Udokan is estimated to contain 13.4 million tonnes of extractable copper metal.
On Monday, Kommersant business daily reported that state-owned Russian Technologies firm planned to bid for Udokan in partnership with Norilsk Nickel and iron ore and steel firm Metalloinvest.
The spokeswoman could not say if Norilsk planned to bid alone or with partners.
Another large state-controlled body, Russian Railways, has announced its intention to bid for Udokan in a consortium with government debt agent and pensions manager Vneshekonombank and Urals Mining and Metals Co, the country's second-largest copper miner after Norilsk Nickel.
Separately, Norilsk and Metalloinvest are in talks about a possible merger.
Norilsk, the world's top nickel and palladium producer, as well as Russia's No. 1 copper producer, is part-owned by United Company RUSAL, which on Thursday completed its purchase of 25 percent plus one share in the firm from tycoon Mikhail Prokhorov. (Reporting by Aleksandras Budrys, Editing by Peter Blackburn)
