Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has partially suspended operations at its Oktyabrsky and Taimyrsky mines. This is reported by Nornickel on its website.

Nornickel partially suspends operations at two nickel mines after water ingress
Nornickel partially suspends operations at two nickel mines after water ingress

Oktyabrsky and Taimyrsky partially closed after water ingress

On February 12, natural groundwater inflow was detected at the 350-meter depth mark in the drift mouth of the Oktyabrsky mine during tunneling operations. Due to the increased inflow of water into the mine’s drainage systems, and in accordance with safety procedures and applicable law, the company has partially suspended mine operations until the flooding ceases. The waterlogging is currently being removed.

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Nornickel’s First Vice President and Chief Operating Officer, Sergey Dyachenko, commented: “Partial suspension of the Oktyabrsky mine was required as a preventive measure to ensure the safety of our employees. Operations at the Taimyrsky mine have also been partially suspended, since there are connected underground workings between the two mines, and water has found its way into this mine’s horizon. We are currently installing a cofferdam to stop further water inflow. Once the cofferdam is in place, we will be able to estimate the amount of water accumulated in the mine workings and enhance our response efforts to drain the workings as quickly as possible. We are doing our best to eliminate the flood as quickly as possible, to minimise its impact on our production plans. We will assess the impact of the partial mine suspension on our metal production guidance once the relief operation is complete”.

Developments on the LME: Nickel rises 1.8%, aluminum above $2,180, bulls continue to call the shots

Bullish sentiment returned to the London Metal Exchange in afternoon trading on Wednesday, February 24. Nickel gained 1.8%. Aluminum hit a new 2021 high and most metals closed higher than Tuesday after a limited period of selling and consolidation.


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