Nornickel, one of the world's top nickel producers, has announced plans to develop a mining project and nickel concentrator in its home country, Russia, to help it to achieve a projected 15% increase in nickel and copper production by 2025, Fastmarkets has heard.
The company will invest 90 billion roubles ($1.37 billion) between now and 2023 in an attempt to develop the South Cluster mining project and to upgrade its Talnakh Concentrator, both in Russia's Far East province, thus making it Nornickel the world's largest concentrator of nickel sulfide ore.The announcement of this program came on Friday March 29 and followed a November 2018 press release which said that Nornickel intended to increase its nickel and copper production by 15% by 2025, to take advantage of rising automotive sector demand for the metals.Market observers said that nickel prices over the past year have been suppressed by macro-economic factors, and do not reflect the fact that too little nickel...