The world’s top producer of refined nickel and palladium is dealing with the aftermath of a devastating Arctic fuel leak that resulted in a record $2 billion levy.

Demand has risen since a slump caused by the first wave of the pandemic, but is unlikely to reach its pre-crisis level until 2022.

Both sides of the market showed strong recovery during the third quarter.

The transaction will give Gemfields an effective and indirect interest in SPM of approximately 6.54%.

The company last month reported a surprise rise in profit for the July-September period.