MMC Norilsk Nickel
(, , , ) () is a nickel
and palladium mining
company. Its largest operations are located in the Norilsk–Talnakh
area, in northern Russia. MMC
stands for "Mining and Metallurgical Company".
Norilsk Nickel is headquartered in Moscow and is the world's leading producer of nickel and palladium. The company is also active in platinum
. It is ranked among the top four world platinum producers, in association with subsidiary Stillwater Mining Company
of Billings, Montana
. It is ranked among the top ten copper producers.
The company is listed on NASDAQ
and the RTS Stock Exchange
. The key shareholders are Vladimir Potanin
and Oleg Deripaska
: each reportedly owns over 25% of shares. In December 2010, Norilsk offered to buy out Rusal's share for US$12 billion; but the offer was declined.
Mining began in the Norilsk
area in the 1920s. The government of the USSR
created the "Norilsk Combine" in 1935 and passed control to the NKVD
at that time. In 1943 Norilsk produced 4 thousand tons of refined nickel and in 1945 hit the target figure of ten thousand tons. Mining and metal production continued first with Gulag
forced labour, later with much volunteer labour, owing to the comparatively good wages offered.
In 1993 after the fall of the Soviet Union a joint-stock company
was created: RAO Norilsk Nickel. Two years afterwards control over the deeply indebted company,... Read More