Nornickel is the world's largest producer of palladium and refined nickel.

The Bahodopi project will produce ferronickel with 73,000-80,000 tonnes of nickel content per year, Vale said.

At normal times, the Las Bambas mine accounts for some 2% of the global supply.

The merger between large-scale producers across the globe has become a consistent theme in the precious metals sector over the past few years.

Barrick’s profile as a copper producer is also growing.

The Saskatoon-based company reported a net profit of C$89 million last year versus a loss of C$103 million in 2021.

Polymetal is negotiating to keep its listing in the form of global depositary receipts after the company moves to Kazakhstan.

Profit more than halved at Hindalco's aluminum upstream segment, which includes bauxite and coal.