The Group’s mineral resources and ore reserves as at 1 January 2023

NorilskIn 2021, SRK Consulting (Russia) completed an estimate of mineral resources and ore reserves using its own methodology. and Kola divisions Ore
mln t 		Metal grade Contained metal
Ni % Cu % Pd g/t Pt g/t Au g/t 6 PGMThe six platinum group metals (PGMs) are platinum, palladium, rhodium, ruthenium, osmium, and iridium. g/t Ni kt Cu kt Pd koz Pt koz Au koz 6 PGMThe six platinum group metals (PGMs) are platinum, palladium, rhodium, ruthenium, osmium, and iridium. koz
Total proven and probable reserves 1,127 0.74 1.32 3.44 0.95 0.19 4.55 8,347 14,870 124,593 34,259 6,752 164,823
Total measured and indicated resourcesProven and probable ore reserves are included in measured and indicated resources. 1,826 0.76 1.24 3.26 0.91 0.19 4.33 13,834 22,681 191,391 53,505 10,927 254,156
Total inferred resources 876 0.67 1.11 2.77 0.74 0.16 3.62 5,854 9,749 77,976 20,819 4,528 101,958
Norilsk divisionThe decline in ore reserves and inferred resources across the Norilsk Industrial District’s deposits was mainly driven by shifting economic parameters and changes in MET assessments, with some disseminated ores at the Taimyr ore cluster becoming less economically viable to mine beyond 2035.
Proven and probable reserves 1,058 0.75 1.38 3.66 1.01 0.20 4.84 7,909 14,651 124,529 34,217 6,732 164,716
Proven reserves 658 0.73 1.38 3.57 0.98 0.20 4.70 4,789 9,058 75,543 20,645 4,182 99,520
Talnakh ore field, including 617 0.76 1.44 3.59 0.96 0.20 4.70 4,684 8,918 71,358 19,028 4,009 93,366
  • rich
77 2.76 3.15 6.06 1.27 0.17 7.87 2,126 2,427 15,037 3,144 411 19,523
  • cuprous
76 0.74 2.51 6.15 1.59 0.38 7.84 559 1,906 15,019 3,879 934 19,137
  • disseminated
464 0.43 0.99 2.77 0.80 0.18 3.66 1,999 4,585 41,302 12,004 2,665 54,707
Norilsk-1 deposit (disseminated ore) 41 0.26 0.35 3.21 1.24 0.13 4.71 105 140 4,186 1,618 173 6,154
Measured and indicated resources 400 0.78 1.40 3.81 1.06 0.20 5.07 3,120 5,593 48,986 13,572 2,550 65,196
Talnakh ore field, including 297 0.97 1.79 4.22 1.07 0.23 5.49 2,888 5,322 40,381 10,238 2,197 52,523
  • rich
62 2.78 3.96 7.64 1.56 0.33 9.75 1,713 2,442 15,144 3,099 647 19,312
  • cuprous
57 0.60 2.24 5.11 1.35 0.33 6.54 345 1,282 9,406 2,484 599 12,026
  • disseminated
179 0.46 0.89 2.76 0.81 0.17 3.69 830 1,598 15,831 4,655 951 21,185
Norilsk-1 deposit (disseminated ore) 103 0.23 0.26 2.61 1.01 0.11 3.84 232 271 8,605 3,333 353 12,673
Inferred resources 1,521 0.77 1.42 3.90 1.09 0.22 5.18 11,732 21,656 190,919 53,203 210,755 253,324
Talnakh ore field 1,378 0.82 1.53 3.95 1.06 0.23 5.19 11,312 21,144 175,016 47,057 10,099 229,919
  • rich
124 3.46 4.39 8.68 1.83 0.33 11.21 4,300 5,451 34,682 7,332 1,303 44,787
  • cuprous
131 0.86 2.91 7.31 1.94 0.44 9.37 1,128 3,807 30,690 8,159 1,865 39,374
  • disseminated
1,123 0.52 1.06 3.04 0.87 0.19 4.04 5,884 11,886 109,644 31,566 6,931 145,758
Norilsk-1 deposit (disseminated ore) 143 0.29 0.36 3.46 1.34 0.14 5.09 419 512 15,902 6,146 657 23,405
Inferred resources 737 0.68 1.26 3.28 0.87 0.19 4.29 4,975 9,316 77,810 20,710 4,473 101,669
Talnakh ore field 725 0.68 1.28 3.27 0.86 0.19 4.27 4,939 9,269 76,295 20,116 4,415 99,429
  • rich
44 3.31 5.43 10.35 2.15 0.47 13.02 1,452 2,383 14,602 3,032 669 18,372
  • cuprous
55 0.60 2.04 5.22 1.39 0.33 6.73 328 1,115 9,161 2,429 576 11,803
  • disseminated
626 0.50 0.92 2.61 0.73 0.16 3.44 3,159 5,771 52,532 14,654 3,170 69,254
Norilsk-1 deposit 12 0.30 0.39 3.94 1.54 0,150 5.82 36 47 1,515 594 58 2,240
Kola division (disseminated ore)
Proven and probable reserves 69 0.63 0.32 0.03 0.02 0.01 0.05 437 219 64 42 20 107
Proven ore reserves 35 0.59 0.25 0.03 0.02 0.01 0.05 203 87 32 23 10 56
Probable reserves 35 0.67 0.38 0.03 0.02 0.01 0.05 234 132 32 19 10 51
Measured and indicated resources 305 0.69 0.34 0.05 0.03 0.02 0.08 2,102 1,025 472 302 172 832
Inferred resources 139 0.63 0.31 0.04 0.02 0.01 0.06 880 433 166 109 55 290
Zabaykalsky divisionIn 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. Ore mln t Metal grade Contained metal
Cu % Au g/t Ag g/t Fe % Cu kt Au koz. Ag koz Fe kt
274 0.61 0.59 2.95 14.62 1,680 5,180 26,027 40,059
Total measured and indicated resources 261 0.69 0.63 3.55 17.34 1,808 5,274 29,809 45,258
Total inferred resources 59 0.4 0.47 2.06 9.08 237 881 3,895 5,346

The Company conducts exploration in three regions of Russia – on the Taimyr and Kola Peninsulas and in the Zabaykalsky Territory. Through exploration at new and existing mine sites, Nornickel ensures increases in its high-grade and cuprous ore reserves to support future production from existing sites, viewing it as a key driver of its long-term growth.

Over 75 years
of resources at the current production rate
MINERAL RESOURCE BASE