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Nornickel sells US-based metals distributor in an all-cash transaction

Norilsk Nickel USA, Inc., Nornickel’s exclusive distribution company for nickel, platinum group metals, and cobalt in the Americas, has been acquired in an all-cash transaction by TMP Metals Group, Inc.

TMP Metals Group, Inc. refines, distributes and tokenizes nickel and platinum group metals. It is a wholly-owned subsidiary of TMP Holdings, Inc., a Beverly Hills-based global investment and holding company with more than $5 billion in annual revenues throughout its portfolio companies.

As a result of the acquisition, TMP Metals Group, Inc. will become one of the leading suppliers of metals and metal products in North America, Latin America, and South America.

We see this transaction as an opportunity to optimize our global distribution business and at the same time help establish a more sustainable stream of low carbon nickel and palladium to industrial consumers throughout the region.

—Anton Berlin, Nornickel Vice President, Sales and Distribution

This is an exciting time to be an essential provider of critical metals for the new economy. Nickel, platinum and palladium are key components in the manufacturing of EVs, solar panels and wind turbines, among others. In order to decarbonize the planet, the market needs to produce more than four times the current supply.

—Raymond F. Staples, TMP’s founder and Chairman

Russia-based MMC Norilsk Nickel is a diversified mining and metallurgical company, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium and other products.

The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland.

MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges.


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