Norilsk Nickel

Efficiency, safety and people: Our core values The world around us is changing all the time, so we need to adapt in order to protect our core values of efficiency, safety and people. Nornickel has a great responsibility to manage natural resources responsibly, bringing critical metals into the world while helping to make the world safer and support people’s aspirations of social and technological development. When we make technological breakthroughs, adopt new management and investment strategies, and support wide-ranging social initiatives, these values are always at the heart of our decision-making. Our eco-drones help to protect biodiversity and safeguard the environment. Our exoskeletons are transforming working conditions and keeping our employees safe. Our social initiatives are making life better for residents in Norilsk and beyond. Nornickel’s employees are at the heart of everything we do. They are the people powering our operations day after day, and working tirelessly to bring new innovations to our industry and respond to the challenges of the world we live in. Working together under a shared mission is what keeps us motivated, time and time again. Watch the video to find out why we believe in our core values. #ESG #innovation #technology

What caused the drop in demand for jewellery in China? What do seaweed farms and mines have in common? What are the latest moves in the metals market? Our quarterly digest has the answers. Nornickel boosted its total production forecast from 184–194,000 tonnes to 196–204,000 tonnes. The palladium forecast rose from 2.30–2.45 million troy ounces to 2.62–2.73 million. These increases are the result of improvements to efficiency, a new furnace at the Nadezhda Smelter, and the launch of a carbonyl nickel department at the Kola MMC. https://lnkd.in/eJR4r5Kz According to McKinsey analysts, global mining and metals revenues are up 75% so far this century. While the industry is in a healthy position compared with historical averages, 2024 is proving to be a challenging year, with slow growth and a lagging transition to low-carbon technologies. https://lnkd.in/exnRpA2s China is the world’s largest consumer of gold, but demand for the precious metal fell by over a fifth to 218 tonnes in the Q3 of 2024. According to Bloomberg, jewellery consumption fell by 29%, while demand for bars and coins fell by 9%. The fall is likely due in large part to higher prices. https://lnkd.in/eHhfvFdP Seaweed farming company Blue Evolution announced the development of an innovative method for extracting minerals and rare earth elements from seaweed. https://lnkd.in/eTUmW_HP In recent years, automakers moved away from using nickel in EV batteries. Now, they are gaining in popularity thanks to their relative low cost. This is because nickel-based batteries retain a high energy density with smaller amounts of metal. https://lnkd.in/d_VjRKa3 The mining industry is currently one of the main sources of emissions globally, though this could change in the near future. The BloombergNEF is forecasting a drop in demand for coal, which is crucial to the energy transition. According to analysts at the Energy Transitions Commission, the combined volume of refined metals needed to reach net zero by 2050 is less than the amount of coal mined in 2023 alone. https://lnkd.in/eReYiBMN Finally, the rise of AI could lead to a copper shortage. Today, data centres account for under 1% of global copper demand. This figure could reach 6–7% by 2050, driving an increase in annual demand for the metal of 3.4 million tonnes. https://lnkd.in/g74pa8RT #PGM #innovation #metals

☀️  Bystra sets its sights on renewable energy Nornickel is launching a new decarbonisation project, which is set to reduce greenhouse gas emissions and lower our carbon footprint. This, we hope,  will contribute to nationwide climate goals. The pilot project will launch in the Trans-Baikal Territory. This region receives more sunlight than any other in the country, which makes it an excellent candidate for solar power plants. As part of the initial stage of the decarbonisation project, a new solar plant will rise at the Bystra facility. In addition to lowering indirect greenhouse gas emissions and the carbon footprint of our products, having our own source of renewable energy should increase Nornickel’s long-term growth prospects. During the day, the employees’ compound will be supplied with electricity from the solar plant, while mains power will be used at night. The solar plant is expected to begin operations in the second half of 2025. #ESG #innovation #sustainability

❄ Dudinka gears up for winter navigation season The summer navigation season at Dudinka Port ended one week earlier than in 2023. Despite this, Nornickel successfully completed the northern delivery, in which essential food, medicine, household goods, equipment and construction materials are delivered to residents and businesses in the Arctic. Over the summer period we delivered 500,000 tonnes of freight by sea and 2 million tonnes along the Yenisei River, representing two thirds of Dudinka’s annual turnover. Thirty-five journeys by sea vessel and 1,211 by river contributed to the delivery efforts. The port is connected to the Taimyr Peninsula, and the Northern Sea Route links it to Arkhangelsk and Murmansk. Dudinka is the only port operating all year round in the harsh conditions of the Far North. During the winter navigation period, seagoing vessels sail along the Northern Sea Route with the aid of icebreakers and moor at Dudinka. Delivering cargo in icy conditions is more difficult and costly, which is why most deliveries are made in advance at the end of the summer season. This ensures that remote communities and local businesses can enjoy access to essential goods until next year’s thaw. #community #inspiration #Arctic

🚢 Breaking the ice with Monchegorsk The ice season is getting underway, and our diesel–electric icebreaker Monchegorsk is ready for service. First launched in 2008, the ship is the star of our ‘northern delivery’, which ensures that food, fuel, medicine and other key supplies are brought into the Norilsk industrial region during the colder months when the surrounding river network is frozen. In 2010, it sailed 12,000 nautical miles in 57 days, including a journey to Shanghai, and covered the 2,200 nautical miles of the Northern Sea Route (NSR) in just seven days. It can move forward with its bow and stern, turn in tight spaces, and break through ice sheets of up to 2 metres thick. Nornickel built its Arctic fleet in 2006 and, in addition to Monchegorsk, operates several container ships and a tanker. The first icebreaker in the fleet, Norilsk Nickel, was built at STX Finland (formerly Aker Yards) and launched in 2006, while subsequent vessels were made in Germany. Follow Monchegorsk’s journey through the icy waters of the Arctic. #community #inspiration #technology

💊 Metals in the healthcare sector Did you know that metals have been used in healthcare for thousands of years? From gold and silver to copper, nickel and PGMs, metals have a number of highly useful properties that make them essential in medical devices, implants, drugs and other treatments. From introducing antiviral copper door handles in hospitals to using PGM-based catalysts in antibiotics for COVID patients, rare earth metals and alloys continue to play a vital role in an industry worth an estimated $13 trillion (according to Verified Market Research). Nornickel is providing the key raw materials for dozens of important medical devices and treatments, helping to keep people healthy and safe. Take a look at our presentation to find out more. #ESG #HEALTH #METALS

📈 Nornickel increased copper and palladium production, completing major repairs ahead of schedule We have disclosed our operational results for the first nine months of 2024. Thanks to increased ore extraction and improved production efficiency, we have managed to increase copper and palladium output, while platinum and nickel production remained stable. All figures and details are available in our infographic. In the third quarter, we completed the largest repair in recent years ahead of schedule, fully reconstructing the flash smelting furnace at the Nadezhda smelter. It was practically rebuilt, increasing the furnace's productivity by 25%. To address new market needs, we continue to produce premium nickel grades, such as Nornickel Plating Grade for electroplating and Nornickel High Purity for superalloy production. The Kola facilities have successfully launched the production of nickel carbonyl and piloted the production of special nickel powders. All this has allowed us to raise our metal production forecast for 2024! Details: 🔹 Nickel: In Q3, production increased by 16% compared to Q2, reaching 56 kt. Over the nine months, nickel output remained almost unchanged from last year, exceeding 146 thousand tonnes. 🔹 Copper: Production in Q3 remained nearly the same (-1%), totalling about 108 kt. Over the nine months, Nornickel increased copper output by 7% to 326 kt, due to the improved quality of copper cathodes last year. 🔹 Platinum Group Metals: In Q3, production decreased by 8% due to the flash smelting furnace repairs, amounting to 676 koz of palladium and 165 koz of platinum. However, nine-month figures remained at last year's level: 2,156 koz of palladium (+1% year-over-year) and 521 koz of platinum (-1% year-over-year). #business #basemetals #PGM #production

✨ Friday quiz time! Nickel is extensively utilised in various applications. Can you arrange them according to global nickel consumption in descending order?  Please refrain from using Google 🙂.   We will post the correct answer in the comments on Sunday. #market #nickel #basemetals

Bystra: A modern mining success story The Bystra mining and processing plant, located in the Trans-Baikal Region, is one of the country’s largest-scale greenfield projects. It was developed in a rapid time frame at a site that was significantly undervalued, demonstrating Nornickel’s world-class project management and innovation, and the dedication of our employees. The complex deposit was first discovered in the 19th century. Geologists initially identified around 31,000 tonnes of copper, though the conditions for mining were difficult. Nornickel acquired a licence for the deposit in the early 2000s and identified significantly more metal in the ground than first thought. A decision was taken to develop the Bystra mining and processing plant soon after, at a time when copper prices were on the rise. Construction began in 2013, and the plant entered into operation in 2017. As of 2024, the Bystra Concentrator can process 11 million tonnes of ore per year, while the entire complex covers an area of 4,400 hectares. The site is home to four quarries, a processing plant, repair workshops, substations, a fire station, warehouses and railway infrastructure for transporting products. The largest open-pit mine reaches 300 metres, and continues to deepen as the deposit is developed. The mined ore is crushed, ground and separated to extract copper, gold and iron on site, which is dried and warehoused before transportation. The plant is one of the country’s most technologically advanced, with AI-powered high-tech solutions assisting employees in numerous processes from quarry blasts and grinding mills to ore analysis. A PPE monitoring system is also in place, ensuring that employees are properly protected at all times. We are always seeking to improve efficiency and expand our capabilities, and there are currently four investment projects underway at the Concentrator. These include a project to install high-pressure grinding rolls (HPGRs), the construction of a gold recovery plant, and new expansions to boost processing capacity. Overall, it is expected that the plant will be able to process 20.8 million tonnes of ore annually by 2030. Significant measures are in place to monitor environmental and climate risks, helping to reduce the carbon footprint of the plant’s operation. Bystra also supports the local ecosystem directly, including through studying biodiversity and replenishing fish stocks. As well as bringing 2,700 jobs to the region so far, the plant has also funded socially significant programmes to improve the lives of local residents, including a youth programme for students overseeing education and career guidance, and the restoration of an ancient stone church. Through innovations in production, measures to safeguard the local environment and social projects, the Bystra mining and processing plant is a shining example of how natural resources can be used safely, efficiently and for the benefit of many. #basemetals #metals #ESG #production

Nornickel shines in social responsibility ranking Nornickel was recognised in a recently published rating conducted by the AK&M agency. We placed second for social responsibility in the Non-Ferrous Metallurgy and Mining category, as part of a survey that looked at the annual reporting, sustainability studies, financial statements and other public data covering 55 companies over the course of 2023. The report evaluated the share of social expenditure as a proportion of company revenue. This can include wages, taxes, charitable donations and other spending that contributes to improving conditions for employees, their families and the broader community. Nornickel designated almost 37% of its revenue in 2023 for social expenditure. Being a successful company isn’t just about making a profit – it’s about helping to solve the problems society faces and improving the lives of employees, local people and society as a whole. The high-ranking position awarded by AK&M underlines Nornickel’s commitment to social responsibility in everything we do. #community #ESG