Russian firm first mining company to launch metal ETCs

Investment Week | Jan 18, 2021 at 2:31 PM
  • The firm, which was forced to pay a record $2.1bn fine for an environmental disaster only last year, has become the first mining company to launch physically-backed ETCs.
  • Two further ETCs are set to launch.
  • Norilsk Nickel has tried to improve its environmental image recently, but alongside the $2.1bn fine which it initially refused to pay, the firm received a public admonishment from Russian president Vladimir Putin as a result of a fuel spill which saw 21,163 metric tons of diesel flood the area surrounding a power plant in May 2020.