Nornickel, the largest mining company in Russia and a global leader in nickel production, has unveiled its consolidated production figures for nickel in 2024. Surpassing expectations, the company’s performance in nickel production was driven by operational enhancements and capital investments.
In 2024, Nornickel achieved a nickel production of 205 kt, slightly exceeding its target range of 196–204 kt. Despite experiencing a 2% decline year-on-year due to scheduled maintenance, the company demonstrated strong operational performance. Notably, all nickel output originated from Nornickel’s Russian feedstock.
Alexander Popov, Senior Vice-President and Operating Director, expressed satisfaction with the production results, highlighting that the output of key metals exceeded production guidance. The completion of a significant reconstruction project at the Nadezhda Metallurgical Plant’s smelting furnace #2, which increased smelting capacity by 25%, played a pivotal role in this success. Additionally, the company ramped up production of premium nickel products for China’s electroplating market and made strides in developing specialized nickel powders at the Kola Division.
Looking ahead to 2025, Nornickel anticipates nickel production to range between 204–211 kt and copper output from its Russian operations to reach 353–373 kt. This forecast underscores the company’s commitment to maintaining robust production levels while enhancing operational efficiency and diversifying its product range. Nornickel aims to significantly increase nickel, copper, and platinum group metals (PGMs) production by 2030.
In 2024, Nornickel’s total copper production reached 433 kt, reflecting a 2% year-on-year increase. Process optimizations aimed at enhancing copper cathode quality and meeting customer demands drove this growth. Copper output from Russian feedstock, excluding the Trans-Baikal Division, surpassed expectations at 363 kt. The Trans-Baikal Division also delivered strong results, producing 70 kt of copper in concentrate, exceeding its target range.
Nornickel has embraced a long-term sustainable development strategy focused on environmentally friendly production practices. The company is modernizing its production assets with clean technologies, reducing its carbon footprint, improving energy efficiency, and fortifying its resilience to climate risks. Collaborating with the Institute of Atmospheric Physics of the Russian Academy of Sciences, Nornickel has undertaken initiatives to better understand and mitigate climate risks.
Achieving one of the lowest carbon footprints among global mining companies, Nornickel has made significant strides in reducing greenhouse gas emissions. Noteworthy accomplishments include reducing Scope 1 and 2 greenhouse gas emissions to 9.7 million tons and achieving a carbon footprint of 8.5 kg of CO2 per kg of nickel, in line with international standards.
The Sulfur Program 2.0 underscores Nornickel’s commitment to minimizing greenhouse gas emissions and enhancing air quality in the Norilsk region. By standardizing its approach to identifying emission sources and completing the Sulfur Program 2.0, the company is actively reducing its environmental impact. Nornickel continues to invest in innovation and data-driven strategies to enhance energy efficiency and achieve long-term climate goals.
In conclusion, Nornickel’s sustained investments in modernization and sustainable mining practices position the company to meet the growing global demand for nickel and copper while aligning with decarbonization objectives.
