Nornickel in Talks with Xiamen C&D to Shift Copper Smelting Operations to China

Foreks - Chinese Xiamen C&D and Russian Nornickel are reportedly in talks to establish a joint venture in China to convert Nornickel's copper raw materials into metal. According to sources, the company, which announced in April its plan to close its facility in the Arctic and set up a copper plant in China by mid-2027, has since been considering purchasing stakes in an existing smelting facility instead of starting from scratch. Nornickel stated, “Nornickel is conducting discussions for a potential production organization in China. If an agreement is reached, we will disclose it.” However, no further details were provided. Sources indicated that the smelting facility in question is Yanggu Xiangguang Copper, based in Shandong, which Xiamen C&D holds a majority stake in. Additionally, sources noted that Nornickel and Xiamen C&D have not yet reached a final agreement and have not finalized the size of the investment or the stakes in the potential joint venture.