“I couldn’t say it is primarily driving our business model but electric vehicles (EVs) are the best thing to happen to the nickel market since the invention of stainless steel so - yes it’s a very promising segment,” Nornickel marketing director Anton Berlin told Fastmarkets on November 18.
“We are convinced that as the EV sector grows, it will require more nickel - in a few years it is going to be second to stainless steel,” Berlin continued.
Nornickel’s Siberian sulfide raw material deposits comprise nickel, copper and other platinum group metals. The mined sulfide ore can be processed to produce fine nickel, copper and platinum group metals to commodity grade via the company’s integrated mining structure.
These concentrates are then profitably sold to industrial consumers for further refinement into multiple products with various end-use applications.
Fastmarkets analysts estimate 500,000 tonnes of refined nickel will be used in...