OAO GMK Norilsk Nickel profit sank 64 percent in 2013 after prices fell and the largest nickel and palladium producer wrote down the value of some assets.
The 37 percent surge in nickel this year means some of the world’s biggest metals companies may finally be able to sell as much as $14 billion in unwanted mines they’ve held for years.
OAO GMK Norilsk Nickel ’s polar division, the mining company’s biggest earner in the past decade, will spend $20 billion by 2030 to stop production from falling, according to its head Evgeny Muravyov.
OAO GMK Norilsk Nickel, the world’s largest producer of the metal, forecast the market surplus will shrink to the smallest in four years in 2014 after the Indonesian ban on ore exports.
"We disagree with these groundless accusations."
- Norilsk Nickel on Jul 30, 2010
Norilsk Says Aluminum, Zinc ETPs Are Unviable