MOSCOW, December 8. /TASS/. Norilsk Nickel has launched a metallic cobalt production facility in Monchegorsk following reconstruction, with a capacity of up to 3,000 tons per year. The company's investment in the project totaled 5.3 bln rubles ($69 mln), the company said in a statement.
"This is the only enterprise in Russia that produces high-grade electrolytic cobalt. Its capacity is up to 3,000 tons per year of metallic cobalt with a purity of 99.9%," the statement reads.
The workshop has reopened following a major renovation. The upgraded production will increase the company's precious metal output, as well as enhance revenues and budget contributions, Nornickel noted.
Cobalt is produced using a chloride extraction electrolysis technology developed by Norilsk Nickel specialists, which meets the most modern requirements for hydrometallurgical processes for electrolytic cobalt production worldwide, including environmental considerations, the company said.
Norilsk Nickel is a diversified metals and mining company. Its production units are located in the Norilsk Industrial District, on the Kola Peninsula and the Trans-Baikal Territory in Russia, as well as in Finland.
Among the main shareholders of Nornickel are Interros owned by Vladimir Potanin (holds 37% of shares) and Rusal founded by Oleg Deripaska (26.39% of shares).