Norilsk Nickel Mine Explosion Kills Four and Eyes on Impact on Relocation Plan

Published: Jul 18, 2017 11:02
Four miners were killed in an explosion at the Zapolyarny Mine, part of the Polar Division of Norilsk Nickel, foreign media reported.

SHANGHAI, Jul. 18 (SMM) - Four miners were killed in an explosion at the Zapolyarny Mine, part of the Polar Division of Norilsk Nickel, foreign media reported. 

China Nickel Ore Inventories Fall, SMM Reports

The company said the accident is not expected to influence ore shipments due to its low percentage of company’s total output. 
In 2016, nickel production at the Zapolyarny Mine accounted for 0.7 per cent of its total, and 2 per cent of its copper output, so no a major impact is expected on Norilsk's output and profit, even if the mine closes. 

Norilsk’s Polar Division has 145,000 tonnes of smelting capacities, including 7 mines, 2 beneficiation plants, and 4 smelters, and it contributed 50,900 tonnes (Ni content) to output in 2016. 

Nickel Price to Hover at Highs, SMM Foresees

The accident may affect its relocation plan for its old plant in 2017. Norilsk originally planned to complete the relocation in 2018. The company adjusts its 2017 output target to 208,500 tonnes (Ni content) for the relocation plan, down by about 27,000 tonnes on a yearly basis.  

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
17 hours ago
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
Read More
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
[SMM Nickel Flash] Based on nickel ore prices from 25 days ago, smelter profits for high-grade NPI remained high this week. However, from the current raw material side, ore prices from both the Philippines and Indonesia increased, while auxiliary material prices saw a slight pullback, leading to an increase in the cash cost of producing high-grade NPI from spot ore. At the same time, high-grade NPI prices experienced some pullback, making it difficult for smelter profits to see sustained improvement.
17 hours ago
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
17 hours ago
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
Read More
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
[SMM Nickel Flash] This week, due to a sharp decline in futures triggering arbitrage selling, high-grade NPI prices fell significantly. However, after the selling activity subsided, upstream quotations and the market center gradually returned to normal levels, supported by cost factors. Looking ahead, as the Chinese New Year holiday approaches, market activity is expected to remain subdued, and high-grade NPI prices are projected to hover at highs with limited fluctuations.
17 hours ago
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
17 hours ago
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Read More
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
[SMM Nickel Flash] The SMM average price of 10-12% high-grade NPI fell 17.2 yuan/mtu WoW to 1,035.8 yuan/mtu (ex-factory, tax included), while the Indonesia NPI FOB index average price dropped 2.06 $/mtu WoW to 131.2 $/mtu. At the beginning of the week, futures hit limit-down, and nickel prices fell sharply WoW, driving the emergence of arbitrage supplies sold at low prices, leading to a significant decline in high-grade NPI prices.
17 hours ago
Norilsk Nickel Mine Explosion Kills Four and Eyes on Impact on Relocation Plan - Shanghai Metals Market (SMM)