Norislk described Wingstar as a "resource-focused investment company with mining and exploration tenements in Western Australia".

The Avalon (formerly Bulong) nickel laterite deposit and processing plant have been on care and maintenance since 2003, while the Cawse open pit and plant have been suspended since 2008.

"As a result of this transaction the company expects to realise a significant gain, primarily through a release of previously recognised environmental and asset retirement provisions," Norilsk said.

Wingstar will assume all environmental rehabilitation obligations related to the assets.

Norilsk expects the deal to close in the second half of the year.

The company said Citigroup continued to act as its exclusive financial advisor on the divestment of its portfolio of Australian nickel assets.

In January, Norilsk sold the Thunderbox and Bannockburn gold mines and Waterloo nickel mine to Saracen Mineral Holdings.

Last year Norislk announced plans to offload its international assets to focus on its tier one Russian properties.

Norilsk also owns the Lake Johnston and Black Swan nickel mines in WA, both of which are on care and maintenance.

Lake Johnston was suspended in 2009 during the global financial crisis, but was restarted in 2011 before being suspended again in April 2013.