Roman Abramovich's company sold $551 million worth of shares earlier this month.
Nornickel Mining News
The shares, accounting for a 1.7% stake in the world's largest palladium producer, were bought predominantly by British-based investors, with Russian investors also buying a third of the shares.
Roman Abramovich’s sale of a stake in Russia’s biggest mining company shows investor appetite for the country’s assets is returning.
Tighter emissions rules are “outweighing the weakness in global auto sales and the growing threat from EV's.
Nornickel’s current capex plan includes $6.5-7.5 billion for its base investment programme and $2.5 billion for its environmental programme.
Nornickels consolidated copper output has risen by 20% to 290,878 tonnes in the first nine months of 2018.
Expectations of a boom in demand for electric vehicles are leading investors and battery makers to stockpile nickel and helping to fuel a spike in global prices of the metal.
Nickel prices to ease off after reaching a three-year high in April.
The Bystrinsky project is now expected to produce 25,000-31,000 tonnes of copper and 90,000-110,000 ounces of gold in concentrate in 2018.
Despite analysts predicting that sanctions against Oleg Deripaska may cause a turmoil in the mining world, Kinross made an effort today to stand clear from such possibility.
The dispute is part of a long-running battle for control of Nornickel, a $30 billion company that is one of the world's top nickel producers.
After a five-year peace deal ended in December, the power struggle between two major Nornickel shareholders resurfaced earlier this month.
Nornickel, a $33 billion mining company, competes with Brazil's Vale SA for the rank of the world's top nickel producer.
Slowing demand from China's stainless steel mills and rising supplies have halted a frenzied price rally and are likely to keep weighing on prices.