Pandemic Helps Russia Tighten Its Grip on a Key Strategic Metal
- Norilsk Nickel’s share of palladium market will grow this year
- Company benefits from disruptions to South African production
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As the coronavirus pandemic pummeled demand from key customers in the auto industry, Russia’s biggest mining company quietly tightened its grip on the palladium market.
MMC Norilsk Nickel PJSC was already the No. 1 miner of the metal used in autocatalysts, but the crisis has allowed it to gain market share. That’s because Nornickel’s Russian operations have barely missed a beat, while its main rivals in South Africa are struggling to ramp up production after shuttering mines during a national virus lockdown.