"Nornickel became one of the world leaders in social investments

The Russian company Nornickel is recognized as one of the world leaders in social investments. This conclusion was reached by the authors of the international publication MiningMagazine, who compiled the ESG Index of mining companies worldwide.

The study showed that social investment and building relationships with local communities are the top priority for the industry. The authors evaluated data for 2023.

For example, Nornickel was the clear leader in the copper equivalent (CuEq) indicator, which is the ratio of social contributions per ton of ore mined in copper equivalent. According to MiningMagazine, the company redirected $344 per tonne to social needs. The second place in the rating went to African Northam Platinum, which paid $130 per ton in copper equivalent, 2.6 times less than Nornickel.

The Russian giant is also among the world's top companies in terms of social contributions (aid to local communities, volunteering and charity) per unit of output. The company's total social investments amounted to $513 mln. MiningMagazine notes that in 2023, out of the 50 companies assessed, the total amount of investments in communities amounted to $2.7 bln, which averages about $51 mln per company.