Introduction
Russian-based Nornickel (MNOD - London; NILSY) is one of the largest diversified mining Majors. The following investor presentation slide is helpful for understanding the location of Nornickel's assets and its ranking in the production of its key metals - nickel, copper, palladium, platinum, and cobalt:
Most of Nornickel's current production comes from polymetallic nickel-copper-platinum group metal ("PGM") mines in the Taimyr Peninsula of Northern Russia which is known as the company's Polar Division. These assets are near the city of Norilsk, from which the company derives its name. Norilsk is the coldest city