Nornickel increases seaborne copper exports to China

MOSCOW. Sept 21 (Interfax) - Nornickel is increasing copper shipments to China along the Eastern transport corridor, the Russian mining giant's logistics director, Ravil Nasybullov said at the Neva-2023 conference in St. Petersburg.

"We have already increased direct shipments of products, foremost copper, to the Chinese market. Last year we carried out a voyage with our own ship in the summer, transported a shipment of copper. This year we plan to increase volumes. One of our ships is heading to China now, and we made one shipment with a hired vessel. Another shipment is planned in the fall," Nasybullov said.

Nornickel plans to ship a total of 45,000 tonnes of copper along the Eastern corridor in this year's summer navigation season, he said.

Nornickel produced 203,000 tonnes of copper in the first half of 2023, about the same as a year earlier. Previously, copper was primarily exported to China overland from the Bystrinsky GOK mine in Transbaikal Territory, which produces up to 70,000 tonnes of copper per year.

Nornickel is interested in carrying out a project to allow year-round passage through the Eastern route, Nasybullov said. "Even in the summer period, in relatively open water, we run into difficulties with passage...There were times when there were not enough icebreakers," he said.

"If the project for year-round passage through the Eastern sector is carried out, we will certainly use this route for objective reasons - speed of deliver and, consequently, reduction of working capital. Our sales division is quite strongly interested in this transport corridor," Nasybullov said.

Nornickel also has plans to further expand the capacity of a terminal in Murmansk, where cargo handling has increased by 20% to 1.7 million tonnes from an average of 1.4 million tonnes per year. This terminal is vital for handling exports headed west, Nasybullov said.