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

Russian mining company Nornickel has partly suspended operations at its Oktyabrsky and Timyrsky mines due to groundwater flooding. On Feb 12, mineworkers at Nornickel’s Oktyabrsky mine discovered natural groundwater flowing at a depth of 350m. The company’s Taimyrsky mine inter-connects underground. These mines have copper and nickel deposits and are located in Russia’s Taymyr Peninsula.


The company has suspended mining activities as a precaution while it installs a cofferdam to prevent more flooding. Once the cofferdam is ready, the company will assess how much water has accumulated and then drain it out.


The company would analyze the impact of the partial suspension on its metal production guidance once the cofferdam installation and water drainage operations are complete. 

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