The board of directors at Nornickel, in which Rusal holds a 27.8% stake, will discuss its 2030 investment strategy and dividend guidelines on March 29.

Project had been shut since March last year due to the covid-19 pandemic.

Nornickel said last week that the spin-off of the Bystrinsky mine near the Russia-China border would happen within two years subject to regulatory and other approvals.

Company said in a filing that net income slipped 5.9% year-on-year to 2.32 billion yuan ($353.6 million) in 2020.

Under the deal, First Cobalt will have the option to sell up to 100% of its annual cobalt sulfate to Stratton.