Investment highlights

Unique resources

The Company’s unique mineral resource base secures the most advantaged position in the global mining industry.

Copper‑nickel sulphide ore (Norilsk and Kola Divisions)
7  mines
Proven and probable reserves
1,267 mln t
Ni
9 mln t
Cu
16 mln t
6PGMs
175 Moz
Measured and indicated resources
1,869 mln t
Ni
14 mln t
Cu
23 mln t
6PGMs
256 Moz
Reserves life (at the current production rate) over 70 years
Gold‑iron‑copper ore (Trans‑Baikal Division)
2  open pits
Proven and probable reserves
283 mln t
Cu
1.5 mln t
Au
6 Moz
Ag
25 Moz
Fe
53 mln t
Measured and indicated resources
303 mln t
Cu
1.8 mln t
Au
6 Moz
Ag
30 Moz
Fe
65 mln t
Reserves life (at the current production rate) over 20 years

Indispensable metals for green energy

Nornickel is the world’s largest producer of green metals which underpin the global economy’s decarbonisation process and the transition to renewable energy and electrified transport.

Investment attractiveness factors
Ni
  • Transport electrification
  • Increasing demand for stainless steel
Pd
  • Higher number of vehicles across the world
  • Vehicle hybridisation
  • Introduction of tests for emissions during driving in real time
  • Deployment of H2 storage, transportation, and purification solutions
Pt

Hydrogen energy and fuel cell cars

Cu
  • Global infrastructure development programmes
  • Transport electrification and growth of charging infrastructure
Co,Rh

Cobalt in batteries and rhodium in clean ICE‑powered vehicles

Highly liquid shares in the market

Nornickel shares have been traded in the Russian stock market since 2001. Since 2014, the shares are included on the First Level quotation list of the Moscow Exchange (ticker: GMKN).

Shareholding structure as of 2023‑end
Analysts’ recommendations on Company shares
Nornickel shares are included in the Moscow Exchange’s indicesAs of 29 December 2023.:

MOEX Metals and Mining Index —14.32%

Blue Chip Index —9.63%

MOEX 15 Index —8.74%

MOEX Russia Index —6.98%

Position in the metals and mining industryData as of early March 2024. Based on refined metal (including tolling) output for palladium, nickel, platinum, and rhodium; based on contained metal production for copper.

High degree of vertical integration

From ore to finished products (100% self‑sufficiency). The Company’s reliance on own logistics, energy, fuel, and water supply translates to a significantly smaller share of these expenditures in cash costs vs peers.

Low carbon footprints of nickel production

The carbon footprint of nickel metal production according to international standards totalled

8.5  kg
of СО2equivalent per kg of metal

Best‑in‑class feedstock mix

Natural diversification and solid long‑term fundamentals.