Russian metals producers want Putin to ease taxes amid war

While Zimbabwe has the world’s third-biggest reserves of platinum-group metals, plus gold, diamond and chrome mines, development has been stymied by political instability.

The question of what happens to Russia’s metal exports is of vast consequence to global markets -- it’s a key supplier of palladium, nickel, aluminum, steel and copper.

While Zimbabwe has the world’s third-biggest reserves of platinum-group metals, development has been stymied by political instability.

The project, expected to start producing in two years, will produce 150,000 ounces a year of PGMs in concentrate in its first phase.

Negotiations for a three-year wage deal with producers are expected to start in the first week of April.

Nornickel's biggest shareholder, Vladimir Potanin, said the company had managed to secure alternative routes for its palladium deliveries.

While palladium hasn’t been hit with sanctions, Russia’s increasing isolation is still affecting supply.

Russia's Ministry of Finance has cleared Norilsk Nickel to pay off its foreign debts in currencies other than the ruble.

Nornickel is not yet considering moving to new markets from its traditional ones but does have plans in place.