Norilsk Nickel
Norilsk Nickel, commonly referred to as Nornickel, is a mining and smelting company based in Moscow, Russia. The company's primary operations are located in the Norilsk–Talnakh region of Siberia, near the Yenisei River, where it mines and produces nickel and palladium. It also has holdings in several other locations, including Nikel, Zapolyarny, and Monchegorsk on the Kola Peninsula, Harjavalta in western Finland, and South Africa.
As the world's largest producer of refined nickel and the 11th largest copper producer, Nornickel holds a dominant position in the global metals and mining industry. The company is publicly traded on the Moscow Interbank Currency Exchange (MICEX-RTS) and has two major shareholders, Olderfrey Holdings Ltd and Rusal, which own 34.59% and 27.82% of the company, respectively.
In 2010, Norilsk Nickel made a $12 billion buyback offer for Rusal's 25% share in the company, but the offer was rejected. The following year, a shareholder agreement was signed between Potanin's Interros holding, Rusal, and Roman Abramovich to address issues around dividend payouts, company strategy, and management. The agreement, which expires in 2023, may or may not be extended or suspended.
In 2019, Abramovich sold a 1.7% stake in the company for $551 million, mainly to British and Russian investors. Potanin and Rusal were prevented from purchasing any of these shares. Nornickel's global reach and dominant position in the nickel and palladium markets make it a significant player in the global economy, particularly in Russia's mining industry.
Founded: 1993
Headquarters: Moscow, Russia
Website: https://www.nornickel.com/
