NILSY - Nornickel stops water inflows at two Arctic mines

Norilsk Nickel ([[NILSY]] +3.6%) says it has stopped water inflows at its two major mines in the Siberian Arctic, and both are now on track to fully resume production in coming months.Nornickel partly suspended operations at the two mines last month after detecting subterranean water flowing into one of them, causing the company to cut its 2021 production forecast by 15%-20%.The company says the Oktyabrsky mine should fully resume production in the first 10 days of May and the Taimyrsky mine should resume in early June; the mines account for 36% of ore mined by Nornickel in Russia.ETFs: [[PPLT]], [[PLTM]], [[JJN]], [[PGM]], [[PTM]]The flooding is just one recent problem confronted by Nornickel, which has been ordered by a Russian court to pay ~$2B in fines after last year's massive diesel spill from one of its Arctic fuel tanks.

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Nornickel stops water inflows at two Arctic mines