Norilsk Nickel to reduce nickel dependence, eyes on copper

Metal Stocks  |  2011-06-13 08:12:08   |   By Paul Ploumis

Norilsk Nickel, the world's largest producer of nickel and palladium plans to add copper, coal and iron ore assets in Indonesia and Latin America as it seeks to overcome dependence on nickel

MOSCOW (Scrap Monster): Norilsk Nickel, the world’s largest producer of nickel and palladium plans to add copper, coal and iron ore assets in Indonesia and Latin America as it seeks to overcome dependence on nickel and triple its market value to $150 billion.

The company controls half of the global nickel market. The plunging prices of nickel and piling up stocks have hit the company’s nickel business.

Meanwhile the company sees more room in copper for expansion, now Norilsk has just a 3 percent share in global copper production.

While nickel output may rise about 68 percent by 2025, Strzhalkovsky is targeting an almost threefold jump in copper and a doubling in production of platinum-group metals. read more on this

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