Norilsk Nickel (also known as Nornickel) focuses on the production of non-ferrous metals such as copper, palladium and platinum. The company is headquartered in Russia and has been having accelerated rates of success in nickel production.
The mining company’s stock surged after recording $1.26 billion in revenue in the first half (H1) of 2020. In the same year, the mining company was the largest nickel producer in the world, with over 178,200 tonnes produced.8 Nornickel followed up with a 34% increase in H1 2021 financial performance and is on course to have another prolific year.
The bullish optimism is because Norilsk experienced disruptions at its underground mines and concentrator last year yet emerged with an increase in revenue. Also, despite a volatile period in 2021, the nickel market prices increased by 16%, surpassing the $20,000 mark Norilsk reported a $45 billion market cap at the time of writing (18 February 2022).