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11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Norilsk Nickel to increase production at the Rocky mine by 45% by 2030

03 october 2023

MMC Norilsk Nickel plans to increase the production of high-grade ore at the Rocky project of the Oktyabrskoye deposit of the Norilsk division in the north of the Krasnoyarsk Territory by 45% to 3.4 million tons by 2030, the company said in a statement.

The company begins production at the Deep mine of the Rocky project at a depth of almost 2 kilometers. This will allow Norilsk Nickel to significantly increase the production of high-grade ore.

Today, the mine has about 60 million tons of high-grade ore (nickel), about 20 million tons of copper ore, as well as more than 200 million tons of disseminated ore (platinoids).

To ensure the start of production at the level of 1943 meters, two independent vertical shafts - a ventilation and a skip-cage - were connected together. This made it possible to combine the necessary infrastructure of the mine and launch general ventilation.

"The prospects are huge. Already in 2027, we plan to produce 1.8 million tons of high-grade ore per year through the commissioned shaft. This will not only make up for the outgoing capacity, but also ensure an increase in production in the amount of 300,000 - 400,000 tons annually. This is more than 20 years of confident, stable work. Our strategy is to increase the ore base. Despite the difficulties, we were able to complete this stage and will continue to build with confidence, which once again speaks of our serious intentions, about the stability of the company," said Nikolay Utkin, Senior Vice President and head of the Norilsk division of Norilsk Nickel.

According to him, the increase is expected next year due to associated ore during the exploration work. The results of this work will make it possible to more accurately plan an effective procedure for mining "deep" reserves of rich ores.

PJSC MMC Norilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade nickel, and the world's leading producer of platinum, cobalt, copper and rhodium. The company also produces silver, gold, iridium, ruthenium, selenium, tellurium, sulfur among other products.

The production divisions of the Norilsk Nickel group of companies are located in Russia in the Norilsk industrial region, on the Kola Peninsula and in the Trans-Baikal Territory, as well as in Finland.

In Russia, the company's shares are admitted to trading on the Moscow and St. Petersburg stock exchanges, and its American depository receipts are admitted to trading on the St. Petersburg stock exchange.

The group's products are supplied to 37 countries in Europe, the Asia-Pacific region, and Americas. It is acquired by more than 400 partner companies. Its sales offices operate in Switzerland, China and the USA.

Norilsk Nickel fully supports the UN 2030 Sustainable Development Agenda and the UN Sustainable Development Goals. For the company, adherence to the principles of sustainable development and corporate social responsibility is an integral part of efficient operations and business development. Norilsk Nickel is constantly improving its environmental protection activities, human rights protection policy, occupational safety and health, environmental impact assessment, and biodiversity conservation. The company spent 333 billion rubles on projects related to sustainable development in 2022.

Alex Shishlo for Rough&Polished