Nornickel has signed a landmark agreement with RusHydro to purchase 10,000 carbon units, representing the largest transaction in Russia’s emerging carbon market to date, the miner said in a statement. The carbon units were generated as a result of converting Vladivostok Thermal Power Plant No. 2 from coal to natural gas. This transition significantly reduced...
READ MOREThe London Metal Exchange has started accepting nickel deliveries from the Norilsk Nickel Harjavalta plant in Finland—of Russian mining giant Nornickel—ending the temporary halt that started in July 2024. This was not due to sanctions but also a delay in performing an audit to confirm the reliability of metal supplies coming into LME warehouses. Nornickel...
READ MOREGold prices increased on Thursday, driven by expectations of a U.S. Federal Reserve interest rate cut next week. Meanwhile, supply concerns from Russia, the world’s largest palladium producer, pushed palladium above the key $1,000 per ounce level. Spot gold was up 0.1% at $2,513.78 per ounce by 1107 GMT, supported by the 21-day moving average...
READ MOREGold prices climbed on Thursday, supported by expectations of a US Federal Reserve rate cut next week, while palladium reached its highest level in over two months due to potential supply disruptions from Russia. Spot gold rose by 0.3%, trading at $2,517.88 per ounce at 0942 GMT, bolstered by support from the 21-day moving average...
READ MOREAt the “BRICS Climate Agenda in Modern Conditions” forum held in Moscow, Nornickel proposed a collaborative approach with BRICS nations to further develop the palladium sector, focusing on green technologies. The forum, which addressed global climate change and strategies to mitigate its effects, saw the participation of Nornickel’s Palladium Center, which emphasized the strategic role...
READ MORENornickel, the world’s largest producer of palladium and high-grade nickel, is expanding its focus beyond traditional markets into innovative technologies. Vitaly Busko, the company’s Vice President for Innovations, discussed in an interview with TASS how Nornickel is leveraging 3D printing, artificial intelligence (AI), and new applications for palladium, particularly in hydrogen-powered vehicles and water disinfection....
READ MORENornickel’s Nadezhda Smelter is set to commission the second line of its Sulfur Program earlier than anticipated, with the launch now expected on October 1, said Nikolay Utkin, Nornickel’s Senior Vice President and Head of Norilsk Division. This program, one of the world’s most complex and large-scale environmental projects, began in April 2022 and involves...
READ MORENornickel has released its financial results for the first half of 2024, showing a significant decline in revenue and profits. According to the report, the company’s revenue dropped by 22% to $5.6 billion, while net income fell by 23% to $829 million. Free cash flow also saw a sharp decrease of 61%, totaling $525 million,...
READ MORENornickel has successfully completed a large-scale overhaul project at its Nadezhda Metallurgical Plant, resulting in the first batch of matte being smelted in a newly refurbished weighted smelting furnace. The Nadezhda plant is a key component of Nornickel’s operations, processing concentrates from the Talnakh and Norilsk Concentrators to produce matte for copper and nickel smelting...
READ MORENornickel has announced its production results for the first half of the year and the second quarter of 2024. According to its statements, the company’s nickel smelting remained almost unchanged at 90,000 tons for January-June 2024. Copper output increased by 7% to 219,000 tons. Palladium output was stable at approximately 1.5 million troy ounces, while...
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