Russian nickel company Norilsk Nickel (Nornickel) plans to invest RUB106bn ($1.43bn) to construct a copper plant in Monchegorsk, Russia.
The project, called Big Copper, will replace Nornickel’s recently shut down smelter and is expected to begin in 2022. With Big Copper, Nornickel plans to double its production compared to the previous facility.
Moreover, the company will invest RUB33bn to construct a Feinstein separation facility in Monchegorsk to produce copper cathode.
Carbon-neutral nickel
Nornickel also recently produced its first batch of certified carbon-neutral nickel to be shipped to customers.
The group announced last year that it would start implementing strategies to reduce its carbon footprint with lower emissions by 47,000mt in 2019-2020. Nornickel will utilize the thousands of metric tons of saved carbon emissions for carbon-neutral nickel production.
The first batch includes 5,000mt of nickel cathodes produced by the group’s Kola Division and will be shipped from Murmansk Port to an LME-certified warehouse in Rotterdam. As emissions continue to be reduced, the group intends to ship up to 10,000mt of carbon-neutral nickel in 2021.
($1=RUB74.59)