Russia’s Nornickel planning to build PGMs refinery in Bahrain

Russian metals giant Nornickel plans a joint project for construction of a platinum group metals (PGMs) refinery in Bahrain, a source familiar with the matter told Reuters.

Nornickel is the world’s largest producer of palladium and a major producer of platinum, accounting for 41 per cent and 12 per cent of global mine output, respectively. Both metals are chiefly used in vehicle exhausts to neutralise harmful engine emissions, and platinum is also used in jewellery.

The source did not provide the project’s time frame or the refinery’s production capacity.

King Hamad bin Isa Al Khalifa of Bahrain held talks with Russian President Vladimir Putin in the Kremlin earlier on Thursday. In a comment to state TV after the talks, Russian Deputy Prime Minister Alexander Novak said that Nornickel plans to build “a platinum production plant” in Bahrain.

Novak gave no additional details. Nornickel declined to comment.