The world’s top producer of refined nickel and palladium is dealing with the aftermath of a devastating Arctic fuel leak that resulted in a record $2bn levy and is among the biggest emitters of acid rain-causing sulphur dioxide. Yet Russian mining giant Norilsk Nickel spent much of its time with investors this week talking up its green efforts and climate goals.

To attain them, it plans to spend $5.5bn-plus, as part of a broader $27bn, 10-year investment blueprint. That’s a strikingly modest push for a company that throws up as much cash, and pollutes as badly, as Nornickel does. Still, it’s talk and organisational reshuffling that send an encouraging signal — providing coming discussions between the company’s largest owners also reconsider a generous dividend policy to free up more money for investment in cleaner operations. If that happens, it will augur well for progress even in what have long been the least environmentally friendly corners of corporate Russia, despite the ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now