Nornickel 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,...
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Russian mining giant Nornickel is negotiating with several Chinese battery companies to jointly establish a nickel sulfate production plant, which will be used in manufacturing batteries for electric vehicles, Reuters reported citing unnamed sources. Nornickel approached Brunp Recycling, a subsidiary of CATL, and CNGR Advanced Material regarding this project, the agency reported. Nornickel, which produced...
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Norilsk Nickel (Nornickel), Russia’s top metals miner, is progressing with the development of the Kolmozerskoye lithium deposit in the Murmansk region amid curtailed exports to the country hit by Western sanctions. The project, the largest of its kind in Russia, is being conducted through a joint venture with state nuclear corporation Rosatom called Polar Lithium....
READ MORENornickel is in talks with China Copper to establish a joint venture aimed at relocating the Copper Plant’s smelting operations from Norilsk to China Reuters reported citing unnamed sources. This collaboration would involve building a new smelting facility in China. As one of the world’s leading producers of nickel, copper, platinum, and palladium, Nornickel produced...
READ MORERussian metals giant Nornickel is planning a joint project to construct a platinum group metals (PGMs) refinery in Bahrain, according to a source familiar with the matter who spoke to Reuters on Thursday. Nornickel is the world’s largest producer of palladium and a major producer of platinum, accounting for 41% and 12% of global mine...
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Nornickel has unveiled a transformative development strategy, which includes forming a joint venture with international partners and relocating part of its Copper Plant from Norilsk to China. The restructured facilities will be equipped with modern copper concentrate preparation and industrial 3D printing capabilities. This strategic shift is expected to significantly enhance Nornickel’s financial performance, generating...
READ MORENornickel, the world’s largest supplier of refined nickel and palladium, confirmed operational plans for this year in a report highlighting mixed first quarter results. The group’s production of nickel, used in stainless steel and high capacity batteries, was down by 10% to 42,101 thousand tonnes, while production of copper, a key metal for power utilities,...
READ MORENornickel, the Russian mining and metallurgical giant, is set to forge strategic partnerships with Chinese firms specializing in battery materials production. Vladimir Potanin, the company’s CEO, emphasized the dual benefits of Chinese collaborations, noting they would provide Nornickel with access to cutting-edge PCAM/CAM technologies to be used in the Russian battery industry chain. Potanin highlighted...
READ MORENornickel is mulling a transfer of copper smelting operations from Norilsk to China. This strategic decision arises from mounting difficulties in modernizing facilities with Western equipment, influenced by the current geopolitical climate. Nornickel’s president, Vladimir Potanin, in an Interfax interview, detailed that the joint venture with a Chinese partner aims to mitigate financial and logistical...
READ MORERussian metals giant Nornickel has underscored that maintaining the company’s financial stability is of greater importance than dividend distribution, although the ultimate decision rests with its shareholders. This stance comes against the backdrop of Nornickel’s decision to halt dividends for 2022—the first such instance in 14 years—attributed to “negative geopolitics”, even though it resumed payouts...
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Russian mining titan Nornickel has successfully navigated a crucial step towards fulfilling its ambitious environmental program aimed at drastically reducing sulphur dioxide emissions in Norilsk. Despite facing procurement and logistical hurdles due to the fallout from sanctions and the refusal of Western contractors to engage, Nornickel’s commitment to environmental stewardship remains unwavering, the miner’s top...
READ MORENornickel’s Vice President for Ecology and Industrial Safety, Stanislav Seleznev, has announced the upcoming launch of the second industrial line of the Sulfur Program at the Nadezhda Metallurgical Plant in Norilsk by fall 2024. This initiative is part of Nornickel’s comprehensive strategy to significantly reduce sulfur dioxide emissions within its Polar Division. The first industrial...
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