Russian firm first mining company to launch metal ETCs

100% of miner's revenue aligns negatively to climate action

Norilsk Nickel, the world's largest producer of palladium and high-grade nickel, has launched a series of exchange-traded commodities (ETCs), offering investors access to physically backed metals.

The firm, which was forced to pay a record $2.1bn fine for an environmental disaster only last year, has become the first mining company to launch physically-backed ETCs. The Royal Mint lists physically backed Gold ETC Its first four ETCs, managed by the Global Palladium fund and issued by Ridgex, offer investors access to gold for a management fee of 0.145%, and silver, palladium and platinum for a fee of 0.2% each. Two further ETCs are set to launch, with nickel and copper funds available for fees of 0.75% and 0.85% respectively. The ETCs will utilise bBlockchain to record bar...