Norilsk Nickel taps into precious metal ETCs
Norilsk Nickel’s clean-up work after a fuel spill at an Arctic power plant in May 2020. (
Russia’s Norilsk Nickel, the world’s largest producer of palladium and nickel, has launched a blockchain-based range of exchange traded products to track prices of gold, silver, platinum and palladium.
The move marks the first time a miner introduces tracker products. The Exchange Traded Commodities (ETCs), which started trading on Deutsche Börse on Monday, are debt securities backed by physical metal.
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They will be run by Norilsk Nickel’s Global Palladium Fund (GPF), which was created in 2016 to advance the development of metals in technologies used by the aerospace, electronics and car sectors.