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Russia's Nornickel produces first batch of carbon-neutral nickel

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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, announced Monday that it has produced its first batch of certified carbon-neutral nickel which will be shipped to customers.

In a press-release, Nornickel stated that measures to reduce its greenhouse gas emissions have been recognized by the international auditor’s certificate, which has allowed the company to allocate thousands of tonnes of saved CO2 emissions to carbon-neutral nickel production.

The first batch of carbon-neutral products totals 5 kt of nickel cathodes produced by the Group’s Kola Division. The metal will be shipped from Murmansk Port and delivered to an LME-certified warehouse in Rotterdam, the largest logistics hub in Europe.

The company noted that the volume of carbon-neutral shipments will increase as emissions are reduced and carbon savings are verified by an auditor. Nornickel said it plans to release up to 10 kt of carbon-neutral nickel this year.

The carbon-neutral nickel will be tokenised on Atomyze, a Blockchain platform, and the tokens will be listed on the Vienna Stock Exchange by Nornickel’s EU-based Global Palladium Fund.

The company added it will also tokenise an auditor’s certificate with verified CO2 emission reductions, allowing this information to be securely stored, allocated to new product launches and attached to smart contracts with investors and industrial customers.

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