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Russian mining giant Nornickel pays ~$2 billion in environmental damages

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(Kitco News) - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, reported today that the company's subsidiary NTEK has made 146.2 billion roubles' (~$2 billion) worth of necessary payments for damage caused to the environment as a result of a 29 May 2020 diesel spill at the Norilsk's Combined Heat and Power plant, situated in the Kayerkan neighborhood of the city.

Nornickel said it has provided the funds for its subsidiary's payment. Compensation for damage to local bodies of water amounted to 145,492,562,907.96 roubles, paid into the federal budget. Compensation for damage to soil amounted to 684,904,320 roubles, paid to the Norilsk's municipal government.

The payment was made in accordance with a 12 February 2021 judgement by Krasnoyarsk's Arbitration Court.

Norilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

The production units of Norilsk Nickel are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and South Africa.

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