Nornickel Announced Restart of Smelter Furnace After Major Repairs

SEATTLE (Scrap Monster): Leading Russian metals producer Nornickel announce dplans to restart one of the two furnaces at its flagship Nadezhda Smelter, after undergoing major repair works. The Western sanctions had resulted in significant delay in import of necessary equipment towards overhaul of its pyrometallurgical production at the smelter facility.

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Although the Russian refined nickel metal producer is not directly subject to Western sanctions, a few Western companies are seen voluntarily avoiding dealings with it. These sanctions in turn have constrained the company’s development and forced it to postpone the repairs of one of the two furnaces at the smelter.

The $340 million repairs comprised of replacement of the smelting unit and required sophisticated equipment.

Earlier in January this year, Nornickel had warned of further decline in its nickel and palladium output for the year, citing furnace repairs and worsening geopolitical risks. The overall Russina metal export revenues were badly impacted due to ban on imports of Russian-originated aluminum, copper and nickel into the U.S. and Britain in April this year. Nornickel is yet to provide estimates on the potential impacts of the new sanctions on its yearly production.