Russia halts rescue operation for 13 trapped miners

Annual production at the new plant is expected to be up to 500,000 metric tons per year.

Russia imposed export duties linked to the rouble-dollar exchange rate until the end of 2024 on a wide range of goods.

Any move by the US or EU to follow the UK’s sanctions on metals trading would likely force the LME’s hand.

PGM prices have fallen by 42% this year and could widen a supply deficit if unprofitable mines are sidelined.

Prices of metals produced by Russia surged as panicky traders struggled to understand how widespread the impact of the measures would be.

Palladium is headed for its biggest gain since March 2020.

The Ozernoye mine had drawn the attention of traders including Trafigura Group and Open Mineral.

The Prohibiting Russian Uranium Imports Act would bar Russian uranium imports 90 days after enactment while allowing a temporary waiver until January 2028.

The proposal, which affects around 14% of share capital, was approved at the company's general meeting on Dec. 8.