independent Russian reporting (Netherlands-based)
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The Moscow Times · Russia / Netherlands · EU banned Murmansk port transactions but Russian nickel still reaches Western markets; Nornickel's Q1 output fell sharply and it accelerated China copper JV talks
Reports Nornickel's Q1 2026 sharp drop in metal output; attributes nickel and PGM declines to a combination of Oktyabrskoye and Taimyrsky ore grade deterioration and the transition to Chinese and domestic mining equipment after Western suppliers withdrew. Notes management guidance that full-year palladium is expected down 10-11% versus 2025.
“Nornickel's Q1 output dropped sharply across all metals; the company attributes the decline to ore depletion and forced equipment replacement after Western suppliers withdrew.”