Nornickel this year failed to pay dividends on its 2022 results for the first time in 14 years.

Platinum prices are down about 15% so far in 2023.

The Supreme Court said earlier this month that the federal government’s broad-based environmental reviews around large mines and major infrastructure associated are unconstitutional.

The miner launched a multi-billion dollar project aimed at reducing sulphur dioxide emissions by 45% in Norilsk.

The world's biggest platinum miner by value produced 909,700 ounces of refined PGMs in the three months to Sept. 30.

The MRE showed a substantial increase in tonnes and contained metals over historical estimates provided by Vale.

Unlike many Russian companies, Nornickel has not been directly targeted with Russian sanctions over its actions in Ukraine.