Moscow, April 19, 2021 — Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum, cobalt and copper, has signed a term sheet with Johnson Matthey (JM) on long-term supply of critical metals for their battery materials production in Finland.

Earlier in April Nornickel announced plans to ramp up sustainable nickel and cobalt production at its refinery in Finland — NN Harjavalta — in response to the growing European demand for high quality and responsibly sourced metals for the EV industry. NN Harjavalta’s product range will be playing an important role in satisfying Johnson Matthey’s requirements for its precursor and cathode active materials production in Finland as well as for its existing factory in Poland.

Johnson Matthey announced the development in Finland of its second commercial plant with a nameplate capacity of 30 kt of ultra-high energy density cathode materials required by EV producers. The factory will be powered solely by renewable energy and incorporate an innovative effluent treatment solution.

Nornickel and Johnson Matthey have also signed a memorandum of understanding to explore options to further extend metal supply in the future. The parties also intend to collaborate in other important parts of the battery materials value chain, including new metal dissolution technology, circular economy opportunities, and tokenization of the supply chain using blockchain technology. Implementation of token-based smart contracts allows combining metal deliveries with complete provenance as well as ESG credentials including carbon footprint to ensure the unprecedented level of responsible sourcing.

Vladimir Potanin, President, Nornickel commented: “We are delighted for this opportunity to develop our business together with Johnson Matthey — a new important player in the Finnish battery materials ecosystem — and help the company expand on the European EV market. Our memorandum should enable us to identify mutually beneficial sustainability initiatives that support the ambition of achieving the most sustainable battery materials value chain in Europe”.

Robert MacLeod, CEO, Johnson Matthey commented: “Securing the long term supply of nickel and cobalt with Nornickel is an important milestone on our journey towards developing a sustainable battery materials ecosystem and further demonstrates the progress we are making on the commercialisation of our business. With sustainability at the heart our strategy and an increasingly important requirement for our customers and consumers, we are delighted to be working with Nornickel to deliver sustainable cathode materials to the market.”

Nornickel agreed with Johnson Matthey on critical supply of nickel and cobalt