NICKEL UPTURN:

Russian mineworkers stand in a skip that is about to descend the mine shaft at the Taymyrsky mine, operated by MMC Norilsk Nickel PJSC, in Norilsk, Russia, which competes with Vale of Brazil as the world’s top nickel producer. Norilsk Nickel, which mines the rich deposits of nickel, copper and palladium near Norilsk, has spent $40-million to lay fibreoptic cabling in the Siberian tundra to boost communication. The nickel price, which is up 28% this year, last week hit the $13 030/t mark on the London Metal Exchange. This year’s nickel demand from batteries is expected to reach 65 000 t, out of total two-million-ton yearly usage.