Russia’s MMC Norilsk Nickel PJSC is betting on artificial intelligence as part of a $100 million push to find additional uses for palladium as electric vehicles erode the metal’s main source of demand.Nornickel, the world’s biggest palladium producer, aims to create 1.7 million ounces of new annual consumption for the metal. That’s equivalent to almost a fifth of existing demand.

Russia's Nornickel has maintained its 2025 nickel production forecast at 204,000–211,000 metric tons, despite a 1.1% year-on-year decline in Q1 nickel output to 42,000 tons. Palladium production dipped 0.6% to 741,000 ounces, while platinum output rose 0.6% to 180,000 ounces. The drop in nickel was attributed to scheduled maintenance, which the company says supports long-term stability. Domestically, Nornickel faces revenue pressure from a stronger rouble and high interest rates. Internationally, it is impacted by falling metal prices, weak demand due to U.S. trade tariffs, and indirect effects of Western sanctions, which complicate sales and access to equipment.

On Monday, April 21, Russia's Norilsk Nickel maintained its 2025 nickel production forecast at 204,000-211,000 mt, with palladium production at 2.704-2.756 million ounces. The company is one of the world's largest producers of nickel and palladium. The company stated that its nickel production in Q1 this year was 42,000 mt, a YoY decrease of 1.1%, while palladium production pulled back 0.6% YoY to 741,000 ounces.

[Nornickel's Net Profit Declines in 2024] Nornickel, a leading global producer of refined nickel and palladium, recently stated that its net profit in 2024 declined by 37% to $1.8 billion due to Western sanctions and lower metal prices squeezing earnings. The company is expected to see a global nickel supply surplus of 150,000 mt in 2025. At the end of last month, Nornickel announced that its nickel production in 2025 would reach 204,000-211,000 mt, up 3% from the previous year. Its nickel production in 2024 was 205,000 mt, down 2% YoY but exceeding the earlier production forecast of 204,000 mt.

[Nornickel: Global Nickel Market Supply Surplus of 150,000 mt in 2025] According to foreign media reports, on February 10, Russian metal producer Nornickel released a forecast regarding the global nickel market: Nornickel predicts that a supply surplus is expected this year, with the surplus amount reaching 150,000 mt.

[Russian Nornickel Discusses Joint Venture with Chinese Companies] Nornickel is in talks with China's Xiamen C&D to establish a joint venture in China, which is expected to process copper raw materials. Russian Nornickel, a global leader in refined nickel and palladium production, said on Tuesday that the company is actively negotiating with a Chinese joint venture but did not disclose details of the discussions. According to two sources familiar with the matter, Nornickel is in discussions with China's major enterprise Xiamen C&D to establish a joint venture in China, aiming to process Nornickel's copper raw materials into metal. Nornickel also reiterated its target to sell its entire production by 2025 and projected a global nickel supply surplus of 150,000 mt in 2025, while expecting the global palladium market to remain balanced this year.

[Nornickel: Nickel Production Up 5% QoQ in Q4] On January 27, Nornickel released its Q4 2024 production report. The report showed that Nornickel produced 59,000 mt of nickel in Q4 2024, up 5% QoQ. Nornickel expects its nickel production to reach 204,000-211,000 mt in 2025.

The company MCC International Incorporation Ltd will join the development of the Kolmozerskoye lithium resources in the Kola Peninsula.

[CATL Responds that the News of Negotiating with Norilsk Nickel to Jointly Build a Factory is Not True] CATL has responded that the news about Norilsk Nickel (Nornickel) negotiating with several Chinese battery enterprises, including CATL's subsidiary Brampy Recycling Technology and Sinovo, to jointly build a factory is not true. Sinovo has not yet responded to this matter.

What are the differences between the historical sanctions requirements issued by the LME regarding Russia and the current ones? What are the LME-involved sanctioned deliverable resources, including Russian-related brands? What is the Russia copper proportion in LME inventory?... All these questions can be addressed in the following article.