Molten nickel is seen being poured at the Nadezhda metallurgical plant of the Norilsk Nickel company, which is located in the Arctic city of Norilsk, in Russia. Norilsk Nickel is the world's largest nickel and palladium mining company and started pilot operations at its Arctic-based Talnakh concentrator plant after the first stage of an upgrade to improve productivity. The Russian company’s output has a major influence on the palladium price, which Standard Bank last month forecast would average $830/oz in 2015.