Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Russian mining giant Nornickel has indicated that it is forced to delay the restart of mining activity at its Oktyabrsky and Taimyrsky mines for the next two-three months. 


The company noted that its nickel and copper production will fall short of its 2021 guidance by 35,000mt and 65,000mt, respectively due to the halt in production. Nornickel plans to ramp up production at Oktyabrsky between April and May. Operations at Taimyrsky are set to resume by June. The company also noted in its statement that the Norilsk Concentrator copper circuit was operational from Mar 15. 


The company forecasts ore production of 5mn mt at Oktyabrsky and 4.3mn mt at Taimyrsky in 2021.

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