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Norilsk Nickel to focus on the development of deposit with metal reserves for $1 trillion

Norilsk Nickel, one of the world's largest producers of nickel, palladium, platinum and copper, will focus on the development of existing Talnakh deposit in the Taymyr Peninsula

© Denis Kozhevnikov/TASS

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MOSCOW, May 18. /TASS/. Norilsk Nickel, one of the world's largest producers of nickel, palladium, platinum and copper, will focus on the development of existing Talnakh deposit in the Taymyr Peninsula with metal reserves estimated at $881mln. This deposit will ensure stable production volumes of the company in the coming years and will become a center for new growth projects in the future, the company’s First Deputy CEO Pavel Fedorov told journalists Monday.

Monday, May 18, Norilsk Nickel management holds "Strategy Day" in London, where the company will report on ongoing projects and will pay special attention to the development of the mining business.

"We analyzed the cost of the audited reserves and resources of the world's known deposits at the current metals spot price. Talnakh is the world's largest deposit base and precious metals. At a very small area at Talnakh deposit we have metals worth roughly $1 trillion," Fedorov said.

According to him, Norilsk Nickel has a unique resource base at the Talnakh deposit, where the company expects to find new "growth points" - projects that can compete in efficiency with the best world analogues. "This is a first class asset, there is a market, therefore here we see a significant potential for creating value, and it goes far beyond from what was expected from the company," Fedorov said, without giving specifics.

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