The firm’s primary listing could come into focus due to a lack of shareholder support for a plan to split off its coal business and list it separately in New York.
The almost $1.2bn Salares Norte mine faced some unique challenges, including relocating a handful of endangered rodents, rocketing costs and technical delays.
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.
While plummeting spot TC/RCs – from $90+ to $3 – are behind the (already fizzling) rally, copper’s long term supply problems are also firmly back in focus.