Norilsk Nickel USA

History

2023: Norilsk Nickel sold to Norilsk Nickel USA

On July 6, 2023, Norilsk Nickel announced the sale of Norilsk Nickel USA, its sole supplier of nickel, platinum and cobalt in the Americas, to the American TMP Metals Group.

The financial terms of the transaction were not disclosed, but it is known that it is carried out for cash. It is noted that TMP Metals Group, which is part of the global investment and holding company TMP Holdings with headquarters in Beverly Hills, is engaged in the processing and distribution of nickel and platinum group metals. After the transfer of assets to TMP, Metals Group is expected to become one of the leading suppliers of metals and metal products in North America, Latin America and South America.

Nornickel sold its sole supplier of nickel, platinum and cobalt in the Americas

We see this transaction as an opportunity to optimize our global distribution business and at the same time establish a more sustainable flow of low-carbon nickel and palladium for industrial consumers in the region, "said Anton Berlin, vice president of sales and sales at Norilsk Nickel.

The TMP Metals Group says nickel, platinum and palladium are key components in the production of electric vehicles, solar panels and wind turbines. Therefore, strengthening the position in the corresponding segment is of great importance to the company. To decarbonize the planet, the market must produce four times more of these metals than shipped as of mid-2023.

According to Interfax, the American region is one of the traditional products of Norilsk Nickel for sale, along with the European one. In particular, in 2022, North and South America accounted for 15% of Norilsk Nickel's metal sales structure. In the first quarter of 2023, this figure rose to approximately 17%.^[1]

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