(TASS) - Nornickel is launching research and development (R&D) works on the use of palladium in green economy sectors, according to Nornickel Vice President Andrey Grachev announcing it on Friday during a round table on carbon emissions and the green economy.
“One of the transitional risks for the company is a change in the structure of demand for products. For example, moving away from cars with internal combustion engines carries the risk of reducing demand for palladium. To this end, we are launching R&D to find new uses for palladium in new emerging sectors of the green economy," said Grachev.
At the same time, the vice president noted that the company is "pleased with the transition to environmentally friendly vehicles," as nickel is used to make batteries for such vehicles. In addition, this metal is actively used in solar energy.
Nornickel is the world's largest nickel and palladium producer and the world's leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, selenium, ruthenium and tellurium. The production divisions of Nornickel Group are located in the Norilsk industrial region, on the Kola Peninsula and in the Trans-Baikal Territory in Russia, as well as in Finland and South Africa.
ABOUT THE COMPANY
MMC Norilsk Nickel is a diversified mining and metallurgical company, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium and other products.
The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland.
MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are accepted for trading on the Saint-Petersburg Stock Exchange.
Norilsk Nickel fully supports the 2030 Agenda for Sustainable Development and the UN Sustainable Development Goals. The Company considers social responsibility and commitment to the principles of sustainable development as one of the pillars of operational efficiency and business development. Nornickel seeks to continuously improve its activities in the areas of environmental protection, human rights, health and safety, environmental impact assessment, and biodiversity preservation. The company spent RUB 221.5 billion on SDG-linked projects in 2021.
