The company has cut nearly two-thirds of its lithium production cost.

Following one of the most challenging periods for miners in Chile in years, the country’s industry is finally picking up.

Meanwhile, it is still awaiting a new special mining permit for its operations beyond 2025.

Both Tianqi and Ganfeng said they’ll continue to acquire global reserves of the key battery material.

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.

Nornickel's 2023 net profit and revenue declined due to low metal prices.