London 15/07/2016 - Russian nickel producer Norilsk Nickel is rebranding itself as Nornickel, it said today.
The company is the world's largest producer of refined nickel and palladium and has several LME and SHFE brands.
"The new Nornickel brand-name will be used for all internal/external communications while the name of the legal entity won't be changed as yet," it said.
Nickel has been mined in Russia's Norilsk region since the 1920s and the Soviet Union created the 'Norilsk Combine' in 1935; a joint stock company, RAO Norilsk Nickel, was created after the fall of the USSR in 1993.
"The previous brand has delivered in full on the agenda of early 2000s but in this 15-year run the company has made great strides and is now at a point in its development where new perspectives are vital and a new symbol becomes essential," it said.
Nickel prices have surged to nine-month highs - it recently traded at $10,410 per tonne on the LME, basis three months - after the government of the Philippines introduced a mining audit opf operations across the country and suspended production at two large miners there over perceived environmental transgressions.
(Editing by Mark Shaw)