Norilsk Nickel and Russian Platinum have signed an agreement in the framework of the Arctic Palladium joint venture.
The agreement to create the joint venture on the basis of Taimyr platinum deposit was signed in February 2018. At that time Interros owner Vladimir Potaniun estimated his investments in the project at 250 billion rubles.
In 2019 Russian Platinum owner Musa Bazhaev estimated them at $15 billion.
Platinum metal manufacture should reach 120 tons per year, resulting in Russia producing over 50% of global platinum group metals. (Ukrainian metal)