Nornickel

Russia's President Vladimir Putin declared a state of emergency as 20,000 tonnes of diesel oil leaked into a river within the Arctic Circle, tainting 12km of the river in red. NTEK, a subsidiary of Norilsk Nickel, reported to Moscow Authorities on Sunday, two days after the leak from its power plant near the Siberian city of Norilsk as the company tried to contain the spill and failed to do so. The state of emergency was declared across the region on Wednesday. “Why did government agencies only find out about this two days after the fact? Are we going to learn about emergency situations from social media? Are you quite healthy over there?” said Putin to Sergei Lipin, the head of NTEK, reports The Guardian. The power plant's director Vyacheslav Starostin was taken into custody until 31 July, but not yet charged. Meanwhile, three criminal investigations have been launched over the incident. Norilsk Nickel or Nornickel is a Russian nickel and palladium mining and smelting company. It is the world's leading nickel and palladium producer, while being ranked among the world's top ten copper producers. The share price of Nornickel (GMKN) fell 8.36% on June 4th to settle at 20,000 RUB. According to the report, Nornickel is one of Russia's most polluting companies. Its plants release approx. 1.67 million tonnes of harmful sulfur dioxide into the air every year, which caused Norilsk to be one of the most polluted city in the world.