Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Nornickel plans to invest RUB91bn ($1.17bn) to update its Monchegorsk copper refinery in Russia’s Kola province.


The company noted in an Oct 13 media statement that the upgrades include building new production lines and upgrading old ones, and installing technology and processes to minimize harmful emissions. 


Part of the investment will be used to upgrade the metallurgical shop at its subsidiary, Kola MMC, to cut carbon emissions. The Russian copper producer indicated that it plans to reduce sulfur emissions at its site by 85pc in 2021 through these upgrades.  


According to Nornickel, new copper production is slated to begin in the Kola peninsula, where Monchegorsk is located, by 2025, and the upgrades will help it increase its annual output from 75,000mt at present to 200,000mt, making the refinery the largest in Nornickel’s copper portfolio. 




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