Existing deposits

Nornickel is well-positioned to maintain a high level of economic ore reserves given the significant mineral resources within its existing deposits. The depleted proven and probable reserves at the existing mines are replaced through the development of measured, indicated and inferred resources. The Company plans to ramp up its production by tapping into new rich ore deposits and gradually developing disseminated and cuprous ore horizons.

Norilsk
Division

Talnakh Ore Cluster

The Talnakh Ore Cluster is located in the Norilsk Industrial District in the north of the Krasnoyarsk Region, on the right bank of the Norilskaya River. Geologically, the Talnakh Ore Cluster is located on the north-western margin of the Siberian Craton and includes the world’s largest Oktyabrskoye and Talnakhskoye copper-nickel deposits. In the early 1960s, multiple deposits of high-grade, cuprous and disseminated ores were discovered within the area. Nornickel is still well supplied with base and noble metals from the uniquely rich and vast resource base of the Talnakh Ore Cluster developed through mining operations of its Norilsk Division. In 2021, SRK Consulting (Russia) developed a methodology for estimating mineral resources and ore reserves and re-estimated the mineral resource base of the Talnakh Ore Cluster using 3D modelling data. With models updated as of 1 January 2022, the mineral resources of all ore types were adjusted to add 232 mln t to the previous estimate, including 11 mln t in rich ores, 38 mln t in cuprous ores and 183 mln t in disseminated ores. Proven and probable reserves increased by 452 mln t due to new mining project launches and the development of design documents.

Reserves and resources
Item 2019 2020 2021
PROVEN AND PROBABLE RESERVES
Ore, mln t
631
623
1,108
Nickel, mln t
6.0
5.9
8.0
Copper, mln t
11.4
11.2
15.0
PGMs, Moz
112
110
158
MEASURED AND INDICATED RESOURCES
Ore, mln t
31,554
1,546
1,368
Nickel, mln t
11.3
11.2
10.9
Copper, mln t
21.6
21.4
20.4
PGMs, Moz
234
232
221
INFERRED RESOURCES
Ore, mln t
437
433
842
Nickel, mln t
3.7
3.6
4.9
Copper, mln t
7.6
7.5
9.1
PGMs, Moz
78
76
100
TOTAL
Ore, mln t
1,991
1,979
2,210
Nickel, mln t
15.0
14.8
15.8
Copper, mln t
29.2
28.9
29.5
PGMs, Moz
312
308
321
PROVEN AND PROBABLE RESERVES INCREASED BY 452 MLN T DUE TO NEW MINING PROJECT LAUNCHES AND THE DEVELOPMENT OF DESIGN DOCUMENTS.
Талнах

Norilsk Ore Cluster

The Norilsk ore cluster is also located in the Norilsk Industrial District. Brownfields within the NID include the northern part of the Norilsk-1 deposit producing disseminated copper and nickel sulphide ores since the 1930s. In 2020, the resource estimate for deposit was updated against new permanent exploratory standards for open-pit and underground mining. A feasibility study of permanent exploratory standards and a reserve statement for the Norilsk-1 deposit (northern part) were approved by the State Commission for Mineral Reserves of the Russian Ministry of Natural Resources and included into the State Register of Mineral Reserves. In 2021, SRK Consulting completed an estimate of mineral resources and ore reserves. The estimate of the deposit’s ore reserves was based on the feasibility study, which drove an increase in proven and probable reserves.

Design documentation providing for the development of the deposit’s remaining reserves took into account the additional resource potential not covered by earlier project solutions, enabling us to add 104 mln t of disseminated ore to Nornickel’s proven and probable reserves.

To raise additional external investments in brownfield expansion in the northern part of the Norilsk-1 deposit, Nornickel has launched the South Cluster project, which is currently ongoing.

A licence to develop the Norilsk-1 deposit, as well as some of the Polar Division assets, were transferred to Medvezhy Ruchey, a wholly owned subsidiary established specifically to implement the expansion project. Medvezhy Ruchey includes Norilsk Concentrator, an open-pit and an underground mine at Zapolyarny Mine, and tailing dumps No. 1 and Lebyazhye.

Reserves and resources
Item 2019 2020 2021
PROVEN AND PROBABLE RESERVES
Ore, mln t
42
40
144
Nickel, mln t
0.1
0.1
0.3
Copper, mln t
0.2
0.2
0.4
PGMs, Moz
8
8
19
MEASURED AND INDICATED RESOURCES
Ore, mln t
145
157
147
Nickel, mln t
0.4
0.4
0.4
Copper, mln t
0.6
0.6
0.5
PGMs, Moz
25
26
23
INFERRED RESOURCES
Ore, mln t
1
-
12
Nickel, mln t
0,003
-
0.03
Copper, mln t
0,003
-
0.04
PGMs, Moz
0.3
-
2
TOTAL
Ore, mln t
146
157
159
Nickel, mln t
0.4
0.4
0.4
Copper, mln t
0.6
0.6
0.5
PGMs, Moz
25
26
25
PROVEN AND PROBABLE RESERVES OF OF DISSEMINATED ORE INCREASED BY 104 MLN T DUE TO REVALUATION.

Кola Division

The Kola Division develops deposits located within a 25 km stretch between Nikel and Zapolyarny in the west of the Murmansk Region and grouped into two ore clusters: Western (Kotselvaara and Semiletka deposits) and Eastern (Zhdanovskoye, Zapolyarnoye, Bystrinskoye, Tundrovoye, Sputnik, and Verkhneye deposits). The deposits in the Western and Eastern clusters have been developed since the 1930s and 1960s, respectively.

Reserves and resources
Item 2019 2020 2021
PROVEN AND PROBABLE RESERVES
Ore, mln t
85
80
74
Nickel, mln t
0.5
0.5
0.5
Copper, mln t
0.3
0.2
0.2
PGMs, Moz
0.1
0.1
0.1
MEASURED AND INDICATED RESOURCES
Ore, mln t
321
316
310
Nickel, mln t
2.2
2.2
2.1
Copper, mln t
1.1
1.1
1.0
PGMs, Moz
0.8
0.8
0.8
INFERRED RESOURCES
Ore, mln t
144
142
141
Nickel, mln t
0.9
0.9
0.9
Copper, mln t
0.4
0.4
0.4
PGMs, Moz
0.3
0.3
0.3
TOTAL
Ore, mln t
465
458
451
Nickel, mln t
3.1
3.1
3.0
Copper, mln t
1.5
1.5
1.4
PGMs, Moz
1.1
1.1
1.1

Trans-Baikal
Division

The Trans-Baikal Division develops the Bystrinskoye deposit located 16 km east of Gazlmursky Zavod in the Zabaykalsky Region. Nornickel owns 50.01% of GRK Bystrinskoye which develops gold-iron-copper ores. In 2021, CSA Global completed an estimate of mineral resources of the Bystrinskoye deposit in line with the JORC Code based on an updated resource model, which reflects both complexity and diversity of the deposit’s ore types. In 2021, Nornickel obtained an exploration licence to prospect for, and appraise, flanks of the Bystrinskoye deposit.

Reserves and resources
Item Ore Copper Gold Silver Iron
Proven and probable reserves
281.3 mln t
1.7 mln t
176 t (5.6 Moz)
870 t (28 Moz)
42.0 mln t
Measured and indicated resources
273.5 mln t
1.9 mln t
182 t (6.4 Moz)
990 t (32 Moz)
48.5 mln t
Inferred resources
60.7 mln t
243 kt
30 t (1 Moz)
163 t (5.2 Moz)
8 mln t
Запасы и ресуры