80 Years of Nornickel
The USSR Council of People’s Commissars resolved to build Norilsk Plant.
The first batch of converter matte was produced, with Norilsk Plant opening a Nickel Electrolysis Shop in 1943.
Norilsk was granted the status of a town, with Norilsk Plant producing 35% of nickel, 12% of copper, 30% of cobalt and 90% of PGM from the Soviet Union’s total metal output.
The Talnakhskoye Field, the world's largest deposit of copper-nickel ores, was discovered giving a new lease of life to Norilsk Plant. Works started to build mines and the town of Talnakh on the Taimyr Peninsula.
The Oktyabrskoye Field, a deposit of copper-nickel ores, was discovered.
Nadezhda Metallurgical Plant and the first stage of Talnakh Concentrator were put on stream.
A decree of the President of the Russian Federation transformed the Norilsk Nickel State Concern for the Production of Precious and Non-Ferrous Metals into Russian Joint Stock Company (RJSC) Norilsk Nickel for the Production of Precious and Non-Ferrous Metals.
RJSC Norilsk Nickel's assets were privatised.
The Company was restructured, with shareholders of RJSC Norilsk Nickel exchanging 96.6% of their stock to the shares of MMC Norilsk Nickel. The Company's shares were listed on the RTS and MICEX stock exchanges, while, in June, the Company started issuing Level-1 ADRs with MMC Norilsk Nickel shares as the underlying asset.
Nornickel obtained a follow-up exploration licence for the Maslovskoye Field and in four years from then entered its reserves into the government books as follows: 728 kt of nickel, over 1.1 mt of copper, 12.5 m oz of platinum and 1.3 m oz of gold.
The Company created its own icebreaker fleet of reinforced ice class vessels having the distinction of being the first Arctic shipping vehicles to be awarded the highest ARC 7 ice class.
Vladimir Potanin's team changed the management structure of Nornickel. The Board of Directors adopted a new development strategy. The Company decided to focus on the Tier-1 assets of Polar Division and Kola MMC.
Disposal of overseas and non-core assets: the Company sold its Western Australian gold mining assets (North Eastern Goldfields Operations (NEGO)), nickel assets (Lake Johnston, Cawse, Avalon, Black Swan and Silver Swan), and stakes in energy companies.
The Company piloted Stage 1 of Talnakh Concentrator in Norilsk.
Norilsk Nickel celebrated its 80th anniversary marking the 80 years of exploring the Russian Arctic. Russian President Vladimir Putin commended MMC Norilsk Nickel’s team for their valuable contribution to the development of the Russian metals industry and excellent operating performance.
The Nickel Plant shutdown project was completed, which helped cut sulphur dioxide emissions in Norilsk and thereby mitigate the environmental impact.
The Company completed rebranding: the new Nornickel logo symbolises the ongoing changes, while Aspirations and Reliability were chosen as the Company’s key attributes.