The company, the world’s biggest refined nickel producer, palladium miner, and a significant producer of copper, has revealed the scope of its new development strategy, which includes a project to transfer copper production from Russia to China. It entails investments totaling 600 billion roubles (about $6.5 billion), as well as additional tax deductions
Under the new strategy, Nornickel intends to invest at least 300 billion roubles (about $3.2 billion) to expand its mining and enrichment capacities: it plans to build a new open pit mine with an annual capacity of 7 million tonnes of ore at the Medvezhy Ruchey deposit, further develop the Talnakh hub mines and increase the capacity of the Talnakh enrichment plant by 80%.
A further 150 billion roubles (about $1.6 billion) will be allocated to the development of logistical infrastructure, mainly the construction of new terminals and the shipment of copper concentrate by ship to China via the Northern Sea Route.
A similar amount will be used to create new production facilities in Russia through cooperation with other large companies. There are also plans to diversify production with a separate partner for each of the new facilities, whether lithium or copper.
For example, Nornickel will work with Rosatom to develop the Kolmozerskoye lithium deposit in the Murmansk region. First production is expected in 2026, and four years later the lithium carbonate and hydroxide plant is expected to reach its design capacity of 45,000 tonnes.
These investments will enable Nornickel to increase its revenues by 550 billion roubles (approximately $6 billion) per year and its tax contributions to the Russian state budget by 40 billion roubles (approximately $434 million) per year.
At the same time, Nornickel intends to employ all 2,000 workers at the copper plant (the production of which will be moved to China) and plans to build copper concentrate drying and storage facilities, handling facilities, as well as 3D printing of various components for the equipment used at the company’s facilities.
Previously, Vladimir Potanin, President of Nornickel, announced the construction of a new copper production facility in China to replace the aging facilities at the Norilsk copper plant (built in 1949), which will be decommissioned. It will be developed in collaboration with Chinese partners and will give Nornickel access to modern battery technology. The metallurgical plant in China is expected to be operational by mid-2027. 
