In 2020 Nornickel issued its first tokens via Atomyze. Atomyze is a digital platform enabled by Hyperledger Fabric’s distributed ledger technology (DLT) and designed to integrate businesses into a digital ecosystem. The platform’s asset tokenisation capabilities were well received at Nornickel.
Through tokenisation, contracts with major industrial partners such as Traxys SA and Umicore SA were partially put onto the blockchain in 2020.
This is the first important step towards the transition to digital trading tools that ensure efficiency and transparency throughout the supply chain.
In 2021, Nornickel’s metal-backed tokens began to be traded on exchanges as a digital exchange-traded commodity (ETC).
During the year, the token was listed on the Deutsche Börse, the London Stock Exchange (LSE), and the Vienna Stock Exchange.
In 2021, Nornickel joined the Responsible Sourcing Blockchain Network (RSBN), which brings together sellers and buyers of minerals and their products.
The use of the blockchain ensures responsible sourcing and supports responsible production at all stages, from mining to the sale of finished products.
Nornickel’s supply chains will be audited annually by RCS Global for compliance with key responsible sourcing requirements.
The audits cover each stage of the Company’s operations, from Russian mines to refineries in Finland and Russia.
Once audited, each supply chain will be brought on to the RSBN and an immutable audit data trail will be captured on the platform.
At later stages, other data such as Nornickel’s upstream and concentrator carbon intensity and other ESG metrics will be tracked as part of the RSBN project.