Archive | Norilsk Nickel

Inside the Coldest City in the World, Where It Snows 270 Days a Year – by Lucas Reilly (Mental Floss.com – December 26, 2018)

http://mentalfloss.com/

In much of the Northern Hemisphere right now, it’s getting colder and darker and the winter blues are setting in. But few places get it quite as bad as Norilsk, Russia, where residents won’t see a sunrise until mid-January. Worse yet, it’s arguably the coldest city in the world.

One of two Siberian cities built in the continuous permafrost zone, during the winter, the city of more than 175,000 people can see cold snaps as brutally low as -78°F. Overall, Norilsk boasts a yearlong average temperature of just 14°F. (Some will argue that the Siberian city of Yakutsk is colder, but that depends on how you want to slice it: Yakutsk is indisputably chillier in the winter—an average temperature of -42°F in January!—but it has much hotter summers and so, when measured by its yearly average, is warmer overall.)

Then there’s the snow. Norilsk “is covered with snow for about 270 days a year,” Vincze Miklós writes for io9, “and the inhabitants must deal with snowstorms one day out of every three.” Continue Reading →

Norilsk Nickel to invest $12bn in production over next five years – by Nastassia Astrasheuskaya (Financial Times – December 10, 2018)

https://www.ft.com/

Russia’s metals and mining major Norilsk Nickel plans to invest more than $12bn in production development over the next five years in order to boost production volumes, the company’s chief executive officer Vladimir Potanin said Monday.

The world’s largest producer of palladium, and one of the leading producers of nickel, platinum and copper, thus signalled a change of strategy from flat output to growth amid stronger global demand for its products.

“We are implementing a rather unprecedented investment programme: we are investing more than $12 billion in production development in the next five years,” Mr Potanin told Russia’s President Vladimir Putin in a meeting, according to the Kremlin transcript. Continue Reading →

U.S. Sanctions Are Driving Russian Billionaires Into Putin’s Arms – by Yuliya Fedorinova, Ilya Arkhipov and Evgenia Pismennaya (Bloomberg News – September 20, 2018)

https://www.bloomberg.com/

The Trump administration is helping Vladimir Putin achieve a goal that’s eluded him for almost two decades—getting Russia’s billionaires to start repatriating some of their assets.

Relatively muted sanctions imposed during the Obama era over the conflict in Ukraine have only widened in scope and severity since Trump took office last year. The unpredictability of both the White House and Congress is forcing Russians to move money into state-run banks and rejig the offshore superstructure that’s sheltered fortunes here since communism’s collapse.

Tycoons and their executives say the rush to move assets beyond the reach of the U.S. Treasury started with the biggest enterprises in April, when Oleg Deripaska and Viktor Vekselberg and their companies lost billions within hours of being hit with the harshest penalties to date. Continue Reading →

Local court to decide Norilsk claim on BCL – by Allan Seccombe (Business Day – September 11, 2018)

https://www.businesslive.co.za/

Russia’s largest mining company in mineral rights dispute with Botswana group and liquidation leader

The success of Norilsk Nickel’s $277m claim against Botswana’s BCL miner and refiner, which is in liquidation, will be decided in an SA court that must find on the merits of a mining right awarded to BCL.

In an acrimonious dispute in which Norilsk Nickel, Russia’s largest mining company and a leading source of palladium, has tried to shred the reputation of Botswana as Africa’s most highly regarded mining destination, there has been a standoff between the Russian company and Nigel Warren-Dixon of KPMG Botswana, who is leading the BCL liquidation.

In 2014 Norilsk struck deals with BCL to sell its 85% stake in Tati nickel mine in Botswana and its 50% stake in SA’s Nkomati Nickel to the state-run nickel producer for $337m. The price was later dropped to $277m. Continue Reading →

New technology from Finland will clear the smog in Nikel – by Thomas Nilsen (The Barents Observer – August 20, 2018)

https://thebarentsobserver.com/en/

New equipment for mineral processing has arrived to Zapolyarny, where Nornickel’s subsidiary Kola Mining and metallurgical Company’s concentrator plant is located. The equipment is made by Outotec in Finland and includes processing technology for filtration, thickening, flotation and analyzer equipment.

When is full operation, the new technology will make it possible to separate rich quality materials from ore with less nickel. By separating out the nickel-rich concentrates, much of the sulfur will be removed before shipped to the smelter in the town of Nikel.

Consequently, the emission of sulfur dioxide (SO2) will be reduced substantially. The run-down plant in Nikel has for decades been a torn in cross-border relation in the Barents Region as the pollution hits neighboring Norway and Finland as well as the fragile taiga-forest on Russia’s own Kola Peninsula. Continue Reading →

UPDATE 2-Electric car bets boosting nickel demand, Nornickel says – by Polina Ivanova (Reuters – August 13, 2018)

https://www.reuters.com/

MOSCOW, Aug 13 (Reuters) – Expectations of a boom in demand for electric vehicles are leading investors and battery makers to stockpile nickel and helping to fuel a spike in global prices of the metal, Russian mining company Norilsk Nickel said on Monday.

Nornickel, the world’s second-largest nickel producer, said demand for the metal from the battery sector leapt 38 percent in the first half of this year versus the same period last year.

Along with demand from the stainless steel sector, this helped boost prices to $15,750 per tonne in June, their highest in over four years, the company said, with the battery sector accounting for 5 percent of total global nickel demand. Continue Reading →

Dangerous sulfur dioxide levels at Kola nickel plant are dropping, cheering environmentalists – by Anna Kireeva and Charles Digges (Bellona.org – July 31, 2018)

http://bellona.org/

Dangerous emissions from the Kola Mining and Metallurgy Company dropped by nearly 9 percent during 2017, says data from the company, marking, according to its figures, a significant drop in pollution over the previous year.

The data were published in the annual report of Norilsk Nickel, the Kola enterprise’s Siberia-based parent company and one of the world’s largest nickel producers, which has long been a focus of environmental ire.

Last year’s drop in sulfur dioxide will come as welcome news to the Murmansk Region and neighboring Scandinavia, which have long suffered pollution from the nickel refining works –– as well as decades of broken promises to bring it to heel. Continue Reading →

London court backs Deripaska in battle of Russian tycoons – by Barbara Lewis and Polina Devitt (Reuters U.S. – June 27, 2018)

https://www.reuters.com/

LONDON/MOSCOW (Reuters) – Russian tycoon Oleg Deripaska got a boost on Wednesday in a long-running battle for control of Norilsk Nickel when a high court judge ruled fellow investor Roman Abramovich did not have the right to sell shares in the miner to a third businessman.

Deripaska, who controls aluminum giant Rusal (0486.HK), wants to stop Abramovich from selling Norilsk Nickel (Nornickel) (GMKN.MM) shares to Russian businessman Vladimir Potanin, saying that would violate a 2012 shareholder agreement.

At London’s High Court, Judge Stephen Phillips ruled such a sale by Abramovich, the owner of England’s Chelsea soccer club, breached the terms of that shareholder pact. Continue Reading →

Britain yet to renew visa of Russian billionaire Abramovich: sources – by Polina Devitt (Reuters U.S. – May 20, 2018)

https://ca.reuters.com/

MOSCOW/LONDON (Reuters) – British authorities, whose relations with Moscow have been strained, are yet to renew Russian billionaire Roman Abramovich’s visa after it expired last month, two sources familiar with the matter told Reuters.

Abramovich, best known in Britain as the owner of Premier League soccer club Chelsea, is in the process of renewing his visa as part of a standard procedure, one of the sources said.

It is taking longer than usual but there is no indication that the visa will not be renewed as there is no refusal or negative feedback, he added. Millhouse, the company that manages Abramovich’s assets, declined to comment. Britain’s Home Office could not be reached for comment. Continue Reading →

Russian billionaires take boardroom battle to London High Court – by Barbara Lewis (Reuters Africa – May 14, 2018)

https://af.reuters.com/

LONDON, May 14 (Reuters) – Russia tycoon Oleg Deripaska gave evidence in the London High Court on Monday in a case challenging the sale of shares in Norilsk Nickel (Nornickel) by soccer club owner Roman Abramovich.

Deripaska, making his first public appearance since being made a target of U.S. sanctions, wants to stop Abramovich selling Nornickel shares to another Russian billionaire Vladimir Potanin, saying it violates a 2012 shareholder deal.

The hearing, which is expected to last four days, is part of a long-running battle for control of the mining firm, one of the world’s biggest producers of nickel. Continue Reading →

Polluter Norilsk Nickel forced to clean up its act – by Henry Foy (Financial Times – April 30, 2018)

https://www.ft.com/

Miner plans $1bn plant to convert sulphur dioxide into gypsum to meet environmental rules

For the best part of 80 years, Russian miner Norilsk Nickel has been one of the world’s biggest metal producers, tapping vast reserves of nickel, copper and palladium in the country’s Arctic. But soon its future survival could depend on producing a vastly different product: gypsum.

Manufacturing the chalky mineral will not make money. The company admits that it does not even know what it will do with it. But come 2023, when it starts producing 5m tonnes a year, the superfluous piles of dusty aggregate will be worth billions of dollars.

That is because Nornickel, as the company is also known, is one of Russia’s biggest polluters, spewing some 1.67m tonnes of harmful sulphur dioxide each year into the air around the city of Norilsk. Continue Reading →

Russia Sanctions Spook Palladium Investors – by Joe Deaux (Bloomberg News – April 22, 2018)

https://www.bloomberg.com/

Hedge funds just made an abrupt about face in the palladium market as U.S. sanctions against Russian titans spark concerns that the world’s largest producer of the metal will get caught in the cross hairs.

After the U.S. slapped penalties on United Co. Rusal, American officials have sent conflicting signals about whether fresh sanctions will be imposed on other companies owned by oligarchs, such as MMC Norilsk Nickel PJSC.

The miner controls about 40 percent of the world’s palladium market. The turmoil sent prices for the metal to a seven-week high, and money managers increased their wagers on a rally by the most since June. Continue Reading →

COLUMN-Sanctions fever grips nickel as market rethinks Russia risk – by Andy Home (Reuters U.S. – April 20, 2018)

https://www.reuters.com/

LONDON, April 20 (Reuters) – Sanctions fever has spread to nickel. With Russian aluminium producer Rusal imploding in the wake of U.S. sanctions against its oligarch owner Oleg Deripaska, attention is now turning to the status of another Russian industrial powerhouse, Norilsk Nickel.

Deripaska is a 27.8 percent shareholder in Norilsk, while the oligarch behind the world’s number two nickel producer, Vladimir Potanin, is himself on a U.S. Treasury Department list of Russians deemed to be close to the Kremlin.

Fears that Norilsk might follow Rusal down the U.S. sanctions path have sent London nickel prices on an extraordinary rollercoaster ride. But this was a market primed for an explosive breakout, with all sorts of technical drivers kicking in once it started rallying. Continue Reading →

Major Russian polluter pledges to turn over a ‘green’ leaf on national television – by Anna Kireeva and Charles Digges (Bellona.org – April 17, 2018)

http://bellona.org/

In a wide ranging appearance on Russian national television, Vladimir Potanin, the president of Norilsk Nickel, a long-time, heavy-duty polluter, made the case that his company has turned over a new leaf, and hitched its future to producing “green” products in an environmentally friendly manner.

Potanin’s remarks were pitched first and foremost to car manufactures, who are themselves in the process of revamping their own production to account for tighter worldwide emissions standards and boosting their offerings of electric and hybrid vehicles.

But he also provided the first look at how the Siberian industrial giant plans to reel in its pollution – a clear nod to environmentalists who have long demanded that the company detail its approach to staunching harmful emissions. Continue Reading →

UPDATE 1-Nornickel exec says in talks with battery makers on investments, cooperation – by Tom Daly (Reuters U.S. – April 18, 2018)

https://www.reuters.com/

SHANGHAI, April 18 (Reuters) – Russia’s Norilsk Nickel , or Nornickel, is in talks with battery makers over possible investment in its mining assets, but is also interested in downstream joint ventures in return, a company executive said on Wednesday.

“We might be interested in having some deeper cooperation, say on the battery side, and building a more complete value chain,” Anton Berlin told Reuters in an interview on the sidelines of a battery materials conference in Shanghai.

Nornickel is looking for “more than just an offtake (sales) agreement,” he said, adding that a downstream joint venture in China would be a possibility. Discussions are at an early stage however, and the company is “not in any rush,” he said. Continue Reading →