Russian Platinum to launch Arctic mine in November
Russian Platinum plans to start production at its Arctic project in November following delays. The mine is expected to add 500,000 ounces of palladium to annual output.
Russian Platinum will launch production at its Arctic polymetallic project in November, aiming for an annual output of 0.5 million ounces of palladium and 0.2 million ounces of platinum. The project marks the first domestic competition for Nornickel, which currently serves as the sole producer of platinum group metals in Russia. This launch follows a one-year delay caused by Western sanctions that restricted access to essential mining equipment.
### Breaking the Nornickel Monopoly Owner Musa Bazhaev confirmed the November timeline during the St. Petersburg Economic Forum. The Russian Platinum project utilizes the Chernogorskoye and Norilsk-1 deposits, which contain high-grade copper and nickel ores.
