Nornickel sees capex rising by 2019-2020

Russia's Norilsk Nickel plans to increase capital expenditure to an average of $2.3-billion to $2.5-billion a year in 2019 and 2020 from about $2-billion in 2018 due to an environmental project and infrastructure modernisation, it said on Monday. Nornickel, part-owned by Russian businessman Vladimir Potanin and aluminium giant Rusal, is the world's top palladium producer and second-largest nickel producer.