Reported 5 months ago
Russian metals company Nornickel plans to collaborate on building a platinum group metals (PGMs) refinery in Bahrain, according to a source familiar with the matter. Nornickel, the world's top producer of palladium and a significant producer of platinum, aims to construct this refinery, although details such as the timeframe and capacity were not disclosed. The initiative was discussed during talks between King Hamad bin Isa Al Khalifa of Bahrain and Russian President Vladimir Putin in the Kremlin, with Russian Deputy Prime Minister Alexander Novak mentioning Nornickel's plan to establish a platinum production plant in Bahrain. Nornickel has not been directly impacted by Western sanctions on Moscow following Russia's 2022 attack on Ukraine, but some Russian precious metals refineries, including those handling PGMs, have faced sanctions.
Source: YAHOO