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Nornickel struggles to change its spots

Nornickel’s efforts over the past few years to boost its environmental credentials were derailed last week when the scale of the company’s Arctic diesel spill became clear, and Tuesday’s analyst call with management failed to satisfy anyone looking to play down the incident as bad luck.

Tom Hoskyns
Nornickel's Heat and Power Plant No.3 (HPP-3) in Norilsk, above the Arctic Circle in Russia, from where the spill originated

Nornickel's Heat and Power Plant No.3 (HPP-3) in Norilsk, above the Arctic Circle in Russia, from where the spill originated

The Russia-focused miner said in the aftermath of the spill that abnormally mild temperatures could have caused permafrost thawing and partial subsidence of the diesel tank's supports - leading to the...

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