mineral · input

PGM Sulfide Ore — Russian Arctic (Norilsk/Taimyr)

Primary feedstock for ~40% of world palladium. Mined by Nornickel from Oktyabrskoye and Talnakh deposits, Polar Division, Krasnoyarsk Territory. Co-product with nickel and copper. Single-company concentrated; sanctions risk; Arctic logistics.

Source countries

Companies

Goods affected

Claims on record

What depends on it

Goods that need this input

1 essential American goods rely on pgm sulfide ore — russian arctic (norilsk/taimyr) somewhere upstream in their supply chain.

Digital

Palladium and platinum group metals

Palladium, platinum, and rhodium used in catalytic converters, electronics multilayer capacitors, fuel cells, and medical devices.

Where it comes from

Source countries

Share of global supply, by country.

Country	Share of supply
RURussia	100%

Who makes it

Supplier companies

1 company produce pgm sulfide ore — russian arctic (norilsk/taimyr).

MMC Norilsk Nickel (Nornickel)(GMKN)

HQ RU100% shareSOLE SUPPLIER

PJSC Mining and Metallurgical Company Norilsk Nickel (Moscow; MOEX: GMKN; ~$12B revenue) is the world's largest nickel and palladium producer and produces cobalt sulfate as a byproduct of nickel refining at its Kola Peninsula operations (Monchegorsk, Murmansk Oblast) and Norilsk complex (Krasnoyarsk Krai). Nornickel's Kola MMC refinery produces cobalt sulfate from cobalt-bearing matte generated at Norilsk nickel smelters. Pre-2022, Nornickel supplied cobalt sulfate to European and Asian battery manufacturers. Post-February 2022 Russian invasion of Ukraine, Nornickel's cobalt sulfate has been largely excluded from Western supply chains due to sanctions and reputational risk — but continues supplying Chinese battery manufacturers (CATL, BYD, CALB) who are not bound by Western sanctions. Nornickel's ~3-4% global cobalt sulfate share is now effectively China-destined.

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