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BASF and Norilsk Nickel sign nickel and cobalt supply agreement

By: Creamer Media Reporter      22nd October 2018 Chemicals and cathode giant BASF has locked in a local source of feedstock for its European battery materials business, announcing on Monday that it had signed a long-term, market-based agreement with Russian miner Norilsk Nickel (Nornickel) for nickel and cobalt supply. The German group also... 

Potanin returns 2% in Norilsk Nickel to Abramovich -sources

By: Reuters     10th September 2018 Russian billionaire Vladimir Potanin has returned a 2% stake in Norilsk Nickel to Roman Abramovich and his partners, according to a source in a holding which manages Potanin's assets and a source familiar with the matter. The original sale of the stake was disputed in a London court by aluminium... 

Kavango receives permit for Botswana electromagnetic survey

By: Tasneem Bulbulia     7th September 2018 Exploration group Kavango Resources has received a permit for the airborne electromagnetic geophysical survey of its KSZ project in south-west Botswana. The permit for the flying of the electromagnetic survey (VTEM) to be carried out over the licences in the Kalahari Suture Zone area was granted... 

Russian miners explore payment schemes eschewing dollar

By: Reuters     15th August 2018 Two of Russia's biggest mining companies said on Wednesday they were investigating rouble-based payments schemes, amid calls from Moscow to reduce the role of the US dollar in Russian trade and so limit the impact of US sanctions. The Kremlin said on Monday that Russia favoured bilateral trade... 

Nornickel earnings jump on higher metal prices, operational efficiencies

By: Simone Liedtke     13th August 2018 Nickel and palladium producer Norilsk Nickel (Nornickel) reported a 77% year-on-year increase to $3.1-billion in earnings before interest, taxes, depreciation and amortisation (Ebitda) in the first half of 2018, driven by higher metal revenue and operational efficiency gains. The Ebitda margin... 

Norilsk says will continue litigation against Botswana govt

By: Anine Kilian     24th July 2018 Russian nickel producer Norilsk Nickel on Tuesday said it would continue with the litigation against the Botswana government over the Nkomati and Tati facilities to recover around $277-million it says is owed to it by State-owned BCL. Norilsk alleges that BCL failed to make a payment under an... 

London court backs Deripaska in battle of Russian tycoons 

By: Reuters     28th June 2018 Russian tycoon Oleg Deripaska got a boost on Wednesday in a long-running battle for control of Norilsk Nickel when a high court judge ruled fellow investor Roman Abramovich did not have the right to sell shares in the miner to a third businessman. Deripaska, who controls aluminium giant Rusal,... 

UK court: Abramovich did not have right to sell stake in Nornickel to Potanin

By: Reuters     27th June 2018 Russian billionaire Roman Abramovich, best known in Britain as the owner of Premier League soccer club Chelsea, did not have the right to sell a stake in a Norilsk Nickel to another businessman, Vladimir Potanin, a London High Court judgment said on Wednesday. The ruling follows a long battle... 

Dundas vying to be the next large-scale Greenland mine

By: Mariaan Webb     31st May 2018 London- and Frankfurt-listed Bluejay Mining is set to bring into production the world’s highest-grade ilmenite project in 2019, feeding into the Greenland government’s target of opening five large-scale mines in the near term. The first of these five mines, Aappaluttoq, opened last year and is... 

Only one-third of the 15 largest copper producers reported positive production trends – S&P Global

By: Henry Lazenby     25th May 2018 Only about one-third of the 15 largest copper producers with output of more than 40 000 t of copper per quarter reported positive production trends during the first quarter of this year, driving quarter-on-quarter output 4.8% or 136 548 t lower, a new report by S&P Global has found. However, on... 

Russian billionaires trade barbs as Potanin testifies in court

By: Bloomberg     16th May 2018 In the second day of London court hearings, billionaire Vladimir Potanin couldn’t pass up the chance to throw a few barbs to his long-running rival Oleg Deripaska. Potanin took the stand on Tuesday in a case involving a dispute over the sale of shares in MMC Norilsk Nickel, Russia’s biggest... 

Russian billionaires take boardroom battle to London High Court

By: Reuters     15th May 2018 Russia tycoon Oleg Deripaska gave evidence in the London High Court on Monday in a case challenging the sale of shares in Norilsk Nickel (Nornickel) by soccer club owner Roman Abramovich. Deripaska, making his first public appearance since being made a target of US sanctions, wants to stop... 

Russian billionaires' Nornickel tussle to go to trial on Monday

By: Reuters     14th May 2018 A London High Court trial over the legality of Russian billionaire Roman Abramovich's sale of a stake in Norilsk Nickel will start on Monday, part of a long-running battle for control of the miner. Rusal, which is controlled by Oleg Deripaska, is trying to stop Chelsea soccer club owner... 

Bluejay’s Disko project now the size of Luxembourg

By: Creamer Media Reporter      2nd May 2018 Dual-listed Bluejay Mining has expanded the landholding at its Disko-Nuussuaq nickel/copper/platinum project to roughly the size of a small country. The company has been granted an additional 1 616 km2 at Disko, taking the overall land package of the project to 2 586 km2. 

Norilsk sees increase in all metals during Q1

By: Anine Kilian     26th April 2018 Russian palladium and nickel mining company Norilsk Nickel, which also owns operations in Finland and South Africa, increased production of all key metals in the first quarter of the year. “The main phase of our downstream reconfiguration programme was completed last year and work-in-progress... 

Russia sanctions spook palladium investors as supply fears mount

By: Bloomberg     23rd April 2018 Hedge funds just made an abrupt about face in the palladium market as US sanctions against Russian titans spark concerns that the world’s largest producer of the metal will get caught in the cross hairs. After the US slapped penalties on United Co. Rusal, American officials have sent conflicting... 

Nornickel exec says in talks with battery makers on investments, cooperation

By: Reuters     18th April 2018 Russia's Norilsk Nickel, or Nornickel, is in talks with battery makers over possible investment in its mining assets, but is also interested in downstream joint ventures in return, a company executive said on Wednesday. "We might be interested in having some deeper cooperation, say on the... 

Deripaska withdraws from Nornickel board nomination

By: Reuters     12th April 2018 Russian tycoon Oleg Deripaska has withdrawn his nomination candidacy to join the board of Norilsk Nickel, the mining firm said in a statement on Thursday. Deripaska had been nominated to join the board, a regulatory disclosure showed on April 5. 

Palladium surges 6% on jitters over Russia sanctions

By: Reuters     11th April 2018 Palladium has surged 6% this week on the back of concerns that supply from number one producer Russia could be hurt by sanctions imposed by the US. Although the supply pipeline of the metal, more than two-fifths of which is sourced in Russia, has not been directly hit by the sanctions, the... 

Russian tycoon Deripaska nominated to join Nornickel board

By: Reuters     6th April 2018 Russian tycoon Oleg Deripaska has been nominated to join the board of directors of mining firm Norilsk Nickel, a regulatory disclosure showed on Thursday. Deripaska, whose aluminium producer Rusal owns a 27.8% stake in Norilsk Nickel, has been locked in a long-running battle for control of the... 

Russian billionaire Potanin buys 2% of Nornickel from Abramovich

By: Reuters     15th March 2018 Russian billionaire Vladimir Potanin's Interros Holding said it had completed the purchase from businessman Roman Abramovich of a 2% stake in Norilsk Nickel, which has been the subject of a legal battle. Abramovich struck a provisional deal last week that allowed him to sell a 4% stake in... 

Botswana pays Russia's Norilsk Nickel $45m to settle mine sale dispute

By: Reuters     9th March 2018 Botswana has paid Norilsk Nickel $45-million to settle a dispute after its State-run mining company pulled out of buying a stake in a South African mine from the Russian firm, the minerals minister said on Friday. Botswana's state-run BCL Mine pulled out of a 3-billion pula ($281-million) deal in... 

Parties in Nornickel dispute allow share sale, but deal could be unwound – lawyer

By: Reuters     8th March 2018 Russian billionaires Vladimir Potanin and Roman Abramovich and aluminium producer Rusal have agreed to allow the sale by Abramovich of a 4% stake in mining giant Norilsk Nickel on a pro rata basis to Potanin and Rusal, a lawyer for Rusal said on Thursday. The three sides of the dispute reached... 

Nornickel profit falls 16%, palladium now largest revenue contributor

By: Mariaan Webb     6th March 2018 Nickel and palladium producer Norilsk Nickel (Nornickel) has posted a 16% drop in full-year net profit, as the miner realised a smaller foreign exchange gain. Nornickel's net profit declined to $2.12-billion in the year ended December 2017, from $2.53-billion in 2016, the company reported on... 

Rusal quest for value to dent Glencore's aluminium clout

By: Reuters     27th February 2018 Mining giant Glencore's deal to buy aluminium from Rusal will be renewed from 2019, but the tonnage is likely to be much lower as the Russian producer taps into growing demand for value-added products, two sources close to the matter said. Unless it sources from additional suppliers, the... 

Abramovich seeks London court approval to sell Norilsk Nickel stake

By: Reuters     27th February 2018 Chelsea soccer club owner Roman Abramovich's Cyprus-based Crispian on Tuesday sought a London court's permission to sell 2% of Norilsk Nickel to billionaire Vladimir Potanin, a move aluminium producer Rusal is trying to block. Potanin offered to buy a 4% stake in Nornickel from Abramovich for... 

Rusal application to block Nornickel deal to be heard by UK court on Feb 27

By: Reuters     27th February 2018 Russian aluminium giant Rusal's application to a UK court to block a deal between companies owned by Russian businessmen Roman Abramovich and Vladimir Potanin will be heard on Tuesday, the court said on its website (www.justice.gov.uk). Potanin this month offered to buy a stake in Russian mining... 

Rusal Q4 core earnings surge, Deripaska steps down

By: Reuters     23rd February 2018 Russian aluminium giant Rusal posted a 42% jump in fourth-quarter core earnings on Friday, helped by higher aluminium prices, and announced billionaire Oleg Deripaska would step down as president, as expected. Hong-Kong listed Rusal said fourth-quarter earnings before interest, taxation,... 

Russia's Prokhorov sells 6% stake in Rusal to Vekselberg

By: Reuters     20th February 2018 Russian businessman Mikhail Prokhorov has agreed to sell a 6% stake in Russian aluminium giant Rusal to a consortium of investors led by billionaire Viktor Vekselberg and his partners, the consortium said on Monday. The sale will close a chapter at the world's second largest aluminium producer.... 

Russian magnate Deripaska to quit roles at his two biggest firms

By: Reuters     19th February 2018 Russian billionaire Oleg Deripaska plans to step down as the president of the two companies he controls - aluminium giant Rusal and En+ Group, two sources familiar with the matter told Reuters. The change comes less than a month after the inclusion of Deripaska and dozens of Russian billionaires... 

Nornickel tycoons said to avoid shoot-out sale in share dispute

By: Bloomberg     19th February 2018 Billionaires Oleg Deripaska and Vladimir Potanin’s working arrangement at MMC Norilsk Nickel is starting to fray, but the tycoons aren’t planning to trigger a so-called shoot out - a forced auction where the losing bidder must sell his stake to the winner, three people familiar with situation... 

Russia's mining billionaires are back to fighting over Nornickel

By: Bloomberg     16th February 2018 The billionaire owners of Russia’s biggest mining company have revived a years-old feud. Oleg Deripaska, one of the top shareholders of MMC Norilsk Nickel, wants to stop Roman Abramovich from selling a stake in the company that may worth $1.5-billion, according to three people familiar with... 

Top mining companies' value increased by 15.5% y/y

By: Megan van Wyngaardt     12th February 2018 The 25 top global mining companies were worth an aggregate $818.2-billion at the end of January, a 15.5% increase compared with their value in the corresponding month in 2017, when the same companies held a value of $708.5-billion, research firm S&P's Global Market Intelligence said on Monday. A... 

BMW close to ten-year supply deal for battery minerals – FAZ

By: Reuters     12th February 2018 BMW is close to signing a ten-year supply contract for lithium and cobalt, the company's procurement chief told Germany's Frankfurter Allgemeine Zeitung, amid an industry-wide scramble for raw materials needed for electric car batteries. "The aim is to secure the supply all the way down to the... 

New Nornickel JV targets up to 100 t/y of PGMs

By: Mariaan Webb     7th February 2018 Palladium and nickel miner Norilsk Nickel (Nornickel) has entered into a strategic partnership agreement with Russian Platinum, in terms of which the companies will establish a joint venture (JV) to develop disseminated ore deposits in the Norilsk industrial district. The 50:50 JV aims to be one... 

Putin to discuss environment with Russian metals tycoons

By: Reuters     7th February 2018 Russian President Vladimir Putin will meet metals tycoons whose businesses are located in the region of Krasnoyarsk, which the President is visiting today, to discuss local residents' ecological concerns, the Kremlin said on Wednesday. Putin will meet with billionaire Vladimir Potanin, co-owner... 

Nornickel says palladium output may fall in 2018

By: Reuters     31st January 2018 Norilsk Nickel, the world's largest palladium producer, said on Wednesday its production of palladium could decline in 2018, while the output of nickel from Russian raw material would remain flat. Nornickel, part-owned by Russian tycoon Vladimir Potanin and aluminium giant Rusal, previously said... 

Mining Indaba to provide ‘first-hand experience’ of return of investor appetite

By: Nadine James     26th January 2018 With commodity prices improving and the mining industry moving towards positive growth, indications are that participants at the Investing in African Mining Indaba 2018 will experience the “return of investor appetite” first-hand, says Mining Indaba MD Alex Grose. This renewed investor interest... 

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