MMC Norilsk Nickel closed 2008 with net losses of 86.053 billion rubles to Russian Accounting Standards (RAS), the Arctic mining and smelting giant said in a May 15 earnings report. Sales revenue fell 29 percent to 226.336 billion rubles. The results are non-consolidated and only include Norilsk Nickel's Arctic Branch. They do not include Kola Mining Company in Russia, assets based in Finland and Australia, the company's stake in Stillwater Mining in the United States or assets bought from Canada's LionOre.
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