Russian firm Norilsk Nickel is planning to invest $300m in its exploration activities around the globe.

This investment is part of Norilsk Nickel’s plan to spend more than $35bn on exploration by 2025.

The firm is expecting to boost its nickel production by 19%, copper production by 49% and platinum production by 42%.

In Siberia, the firm is planning to produce about 3Mtpa of iron ore concentrate from the Chita region, starting from 2016.

The firm will also carry out exploration activities on metallurgical coal and thermal coal in Taymyr Peninsula.

Norilsk Nickel’s head of scientific development Vladimir Dyachenko said that the firm is currently exploring for nickel in Cuba, which is expected to be finished by end of 2011.