Archive | Norilsk Nickel

Cobalt market to avoid shortage despite Congo mine closure: Nornickel – by Anastasia Lyrchikova and Polina Devitt (Reuters U.S. – October 29, 2019)

https://www.reuters.com/

MOSCOW (Reuters) – Cobalt supply will remain robust despite a price slide that has already led to the closure of a major mine, Russia’s Norilsk Nickel said, as most is produced as a byproduct of more buoyant metals like nickel and copper.

Prices of the battery metal surged in 2017 and 2018 on expectations for an electric vehicle revolution, but have fallen this year due to excessive supply and the impact of the U.S.-China trade war.

They are now down 60% from their spring 2018 peak. In August global mining and trade giant Glencore said it would shutter its Mutanda mine in the Democratic Republic of Congo from year-end for two years due to low cobalt prices. Continue Reading →

On ‘Island’ in Russian Arctic, Arrival of Fast Internet Shakes Political Calm – by Anton Troianovski (New York Times – October 21, 2019)

https://www.nytimes.com/

Residents of Norilsk long felt isolated from their country’s turbulence. Then a mining company strung a fiber-optic cable across 600 miles of tundra.

NORILSK, Russia — On a screen, the California sun beams through the palm fronds and the Walk of Fame gleams underfoot. This island of mines and smokestacks in the tundra has high-speed internet now, so Andrei Kurchukov watches videos about America.

Videos by one of his favorite YouTube personalities, Marina Mogilko, feature interviews with fellow Russian expatriates in the United States. “Los Angeles,” she tells her one million followers, is “where Russian dreams come true.” “I watch her and think, alas,” Mr. Kurchukov said. “So what we’re showing about the rotting West is false.”

Closed to foreigners, unreachable by road and shrouded in darkness for 45 days a year, Norilsk, an Arctic nickel-mining hub of 180,000, is Russia’s most isolated major city. Lacking reliable digital communication with the rest of the country — “the continent,” they call it — residents used to fly home with external hard drives full of downloaded books and movies after their trips out. Continue Reading →

Russia’s Norilsk and S.African coal town Kriel top SO2 emissions hot spots -NASA data (CNBC.com – August 19, 2019)

https://www.cnbc.com/

JOHANNESBURG, Aug 19 (Reuters) – Russia’s Norilsk smelter complex and a town in South Africa’s eastern coal mining province have the highest sulphur dioxide (SO2) emissions in the world, according to satellite data from U.S. space agency NASA.

The NASA-compiled data published on Monday was commissioned by environmental group Greenpeace India and used the space authority’s satellites to track anthropogenic sulphur dioxide emission hot spots around the world.

Scientists say that excessive exposure to SO2 particles causes long-term respiratory difficulties and stunted growth in infants among other problems. Continue Reading →

About 7,000 families move out from Norilsk Industrial District since 2011 (Tass Russian News Agency – June 27, 2019)

https://tass.com/

KRASNOYARSK, June 27. /TASS/. About 7,000 families have been moved since 2011 from the Norilsk Industrial District (the Krasnoyarsk Region’s north) to regions with better climate conditions, Nornickel’s Vice President Dmitry Pristanskov said on Wednesday at presentation of the company’s report on sustainable development.

In 2011, Russia’s Ministry of Regional Development, the Krasnoyarsk Region, the city of Norilsk and the Norilsk Nickel Company (Nornickel) signed an agreement to support families, who wanted to move out from Norilsk and Dudinka (the Taimyr Municipal District’s center).

People, who have worked in the Extreme North for more than 15 years could participate in the program. The most preferred destinations have been the Krasnoyarsk, Moscow, Leningrad and Krasnodar Regions. Continue Reading →

Russia’s Murmansk region among country’s 10 most polluted, says government agency – by Anna Kireeva (Bellona.org – June 13, 2019)

https://bellona.org/

Officials have said that Murmansk Region ranks among those with the most polluted air in the country, according to a new report published by Rospotrebnadzor, Russia’s federal consumer rights agency.

The report, entitled “On the state of sanitary and epidemiological wellbeing of the population of the Russian Federation in 2018,” paints a stark picture of drier, hotter weather conditions conspiring with industrial pollution all while higher levels of toxins are being measured in area soil.

Specifically, the report says that heavy metal quantities in soil found in residential zones of the Murmansk Region exceed legal measures by three times. Chemical substances found in playgrounds and other areas geared toward children exceeded hygienic standards by the same amount. Continue Reading →

Palladium’s price gap over platinum needs to shrink – Nornickel (Reuters/MiningWeekly.com – May 13, 2019)

https://www.miningweekly.com/

LONDON – The price gap between palladium and its sister metal platinum needs to shrink as number one platinum producer South Africa requires a higher price for the metal to keep investing in new supply, Russia’s Norilsk Nickel said.

Norilsk is the number one producer of palladium, accounting for more than 40% of global output, and is also a leading supplier of platinum. Both metals are used to curb harmful emissions from cars.

While palladium prices have soared by more than a third in the last five years, platinum has slumped by more than 40%. It is now around $490 an ounce cheaper than palladium, against an average premium over the last 30 years of $435. Continue Reading →

Russia’s Richest Man Plans Crypto Tokens Backed by Palladium – by Yuliya Fedorinova (Bloomberg News – March 27, 2019)

https://www.bloomberg.com/

MMC Norilsk Nickel PJSC and its billionaire chief Vladimir Potanin are planning several digital platforms, including using crypto tokens for trading palladium.

The world’s top palladium producer is in talks with Swiss authorities about issuing tokens by its Switzerland-based palladium fund, and may eventually expand the concept to other metals, Potanin said in an interview in Moscow.

“People more and more tend to use decentralized networks and platforms that don’t have a main operator,” he said. “We want to be active participants of this process,” as trading in digital tokens has many advantages, he said. Continue Reading →

PRECIOUS-Palladium breaches $1,550/oz as supply fears grow; gold steadies – by Arijit Bose and Eileen Soreng (Reuters U.K. – February 26, 2019)

https://uk.reuters.com/

Feb 26 (Reuters) – Palladium broke past $1,550 an ounce for the first time on Tuesday on the back of intensifying supply deficit, while gold steadied after U.S. Federal Reserve Chairman Jerome Powell reiterated the central bank’s patient stance in further rate hikes.

Spot palladium soared to $1,565.09 per ounce earlier in the day, and was up 0.9 percent at $1,555 by 2:25 p.m. EST (1925 GMT).

“Palladium is up based on the fact that there are 15 mining firms in South Africa, that could go on strike this week,” Bob Haberkorn, senior market strategist at RJO Futures. Continue Reading →

Palladium Smashes $1,500 as Shortages Ignite Record-Breaking Rally – by Ranjeetha Pakiam (Bloomberg News – February 20, 2019)

https://finance.yahoo.com/

(Bloomberg) — Palladium surged above $1,500 an ounce to a record, extending a powerful rally that’s been driven by an acute shortage of supply as car manufacturers scramble to get hold of the material to meet stringent emissions controls.

Spot palladium surged as much as 1.7 percent to $1,505.46 an ounce, and traded at $1,488.20 at 10:08 a.m. in New York. Prices are set for a seventh straight monthly gain. The advance will benefit top suppliers in Russia and South Africa. In other precious metals, gold rallied to a 10-month high, while silver and platinum both climbed.

Palladium, a silvery-white metal used to curb emissions from gasoline-fueled vehicles, has tripled since January 2016. Citigroup Inc. said this month that further gains may be in store, warning the market will only balance with a shock to demand. Prices may hit $1,600, the bank forecasts. Continue Reading →

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 →