#ARCTIC. #SIBERIA. THIS IS TAIMYR. The Nornickel Global Palladium Fund has issued digital exchange instruments (ETC) for metals needed for electric vehicles production.
The volume of the issue is 10 million dollars. The tokens are listed on the Milan Borsa Italiana stock exchange, and in the next few weeks they will be listed on the German stock exchange Deutsche Börse, the London Stock Exchange and the Swiss Exchange.
Now each ETC is provided with five metals: copper (40 percent), palladium (28.13 percent), nickel (18.65 percent), cobalt (11.45 percent) and platinum (1.77 percent). Going forward, this proportion will be reviewed annually based on how they are used according to the GPF Electric Vehicle Index, which includes metals based on how they are used in four segments of electric vehicles: battery-powered vehicles (BEV), hybrids (HEV), plug-in hybrids (PHEV) and fuel cell electric vehicles (FCEV). It is even possible to include new metals in the basket if they are in demand.
“In recent years, we have seen an incredible growth in demand for electric vehicles, and this is just the beginning of a global trend to replace internal combustion engines”, said Alexander Stoyanov, GPF CEO.
According to Anton Berlin, head of sales and commerce at Nornickel, the company was the first in the metallurgical sector to provide investors with the opportunity to purchase metals used for the electric vehicles production in the form of digital contracts.
Recall that the first tokens for metals (it was palladium) were issued by Nornickel in December 2020, and in September 2021, the company placed the first batch of carbon-neutral nickel on the Vienna Stock Exchange in the form of digital contracts. In general, Nornickel’s ETC issued on the Atomyze blockchain platform are now traded on the London, Frankfurt, Swiss and Italian stock exchanges. In this form, the company sells gold, silver, platinum, palladium, nickel and copper.
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Text: Ekaterina Maksimova, Photo: Nikolay Shchipko and istockphoto.com
