Nornickel board recommends no dividend for first time in 14 years

Guinea's mines minister has said the railway and port infrastructure must be completed by 2024, and commercial production must start by 2025.

Global demand for nickel used in batteries is expected to rise more than 20% this year.

Marcela Hernando Pérez, the new Chilean mining minister, said that Santiago does not plan to nationalize the country's mining sector.

The deal comes at a time of surging raw materials prices, exacerbated by the invasion of Ukraine by Russia.

The proposal is to build a plant on the coast of the Valparaiso region that would produce drinking water for residents in exchange for access to waste water that could be used at mines.

The last time the copper industry gathered in Santiago, prices were below $3/lb amid concerns over a slowdown in Chinese demand.

Rusal owns a 20% stake in Queensland Alumina, which is operated by Rio Tinto.

Polymetal, which has a free float of 75.2%, is not subject to any Western sanctions imposed on Russia.

Patricio Vergara, VP of mining resources and development, said the hived-off assets could become eventual partnerships.