Norilsk makes 17% of the world’s “Class 1” nickel, which is more suitable for batteries and can be sourced in large quantities from only a few other locations.

The company said in a statement it is suspending all activities at its Udinsk development project.

Stanmore, which signed the deal with BHP in November to buy the stake for $1.35 billion, said it would issue about 631 million shares.

The global miner has increased female participation across the business by two-thirds since 2016, lifting it to over 30%.

Glencore currently owns a 10.55% stake in En+ Group, the controlling shareholder of aluminum giant United Co.

The company vowed to only build low-emission mills using technology from a venture dubbed Elysis.

The Calgary-based startup also plans to raise at least $100 million in series B funding by the end of this year or early next year.

The company’s primary focus will continue to be coal.