Nornickel’s current capex plan includes $6.5-7.5 billion for its base investment programme and $2.5 billion for its environmental programme.
Nornickel Mining News
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.