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12 Feb

Nornickel’s 2023 revenue, profit fall amid lower prices

Russian miner Nornickel’s consolidated revenue decreased in 2023 amid a slump in metal prices and lingering external political pressure on Russian business. Revenue in 2023 fell by 14% on-year to $14.4 billion, while net profit dropped 51% on-year to $2.87 billion. The company says it sold all metal volumes produced in 2023, as well as a part of stock accumulated in 2022. According to Nornickel, last year, nickel was the worst performer among base met…
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