The Japanese copper smelter said it planned to produce 224,094 tonnes of refined copper in the first half.

The Japanese company plans to produce 104,600 tonnes of refined zinc in the first half.

The combined company would have 15 production sites across the United States, Canada and Mexico.

Although Nornickel itself and its metals are not a target of Western sanctions some consumers are voluntarily shunning deals for its metals and of products made from Russian raw materials.

Last June, the commodity trading giant made its first investment in the critical minerals explorer.

The most-traded May copper contract has gained nearly 5% so far this month.

The talks included topics such as the potential for state-run Jiangxi Copper to gain influence on First Quantum's board decisions.