Reported about 1 year ago
Nornickel is in discussions with China Copper to establish a joint venture that would allow the Russian mining company to relocate its copper smelting operations to China. This potential move, if realized, would be Russia's first instance of moving a domestic plant since the U.S. and Britain restricted the acceptance of Russian metals. Nornickel intends to close its Arctic facility and construct a new plant in China with a partner, with sites in Fangchenggang, Qinzhou, or possibly Qingdao being considered. The facility is expected to have an annual capacity of 450,000 tonnes of copper, making up around 2% of global mined supplies for the year. The proposed joint venture is under discussion, with decisions expected in the coming months, and the new plant is slated for completion by mid-2027, aiming to cater to China's significant copper demand.
Source: YAHOO