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Norilsk Billionaire CEO Says Nickel Supply Fears Overdone

Vladimir Potanin, the billionaire who runs Russia’s OAO GMK Norilsk Nickel, said concerns that supplies of the metal will be disrupted by sanctions against the country over the crisis in Ukraine are overstated.

Nickel has jumped 31 percent this year after Indonesia banned exports of unprocessed ore and some buyers took the view that Norilsk, the world’s biggest producer, would have sales curtailed by widening sanctions aimed at punishing President Vladimir Putin’s government. Potanin said the medium-term outlook is for stable prices as Indonesia starts its own processed nickel production within the next two years.