On February 24, 2021, Russia’s Nornickel had announced that it had suspended operations at its Oktyabrsky and Taimyrsky mines due to flooding from natural groundwater. We have reported about it. There was now an update on this in a recent press release on the company’s website on March 3.
Nornickel gives update on status of restoring operations
Nornickel, the world’s largest producer of palladium and high-grade nickel, as well as a major producer of platinum and copper, announces the current status of its efforts to restore normal operations at a number of production facilities in the Norilsk division and improve their work safety.
Operations suspended at two mines due to flooding
At the end of February, the company suspended operations at the Oktyabrsky and Taimyrsky mines due to flooding caused by natural groundwater. On March 9, Nornickel’s board of directors will review the timeline for full restoration of operations at the two mines, as well as an assessment of the impact on the production forecast.
Editor’s note: Nickel prices are falling
Apparently Nornickel’s announcement was misunderstood in some media and reports circulated that Nornickel would restart its mines. And that there had been a drop in nickel prices as a result. We took a look at that.
“Nornickel has enough competence and expertise to deal with this problem, and the current efforts are adequately dealing with the situation,” said Nornickel’s President Vladimir Potanin.
“As of today, we can say that this accident will have material consequences, that is, there will be certain production losses, but fortunately it does not impact people and the environment,” Potanin said.
Repairs to Norilsk concentrator proceed
Nornickel also released an update on repairs to the two production lines at the Norilsk concentrator and how things are progressing there.
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