MMC Nornickel is in the active phase of negotiations on the establishment of a joint copper production facility in China, said the company's First Vice President Sergey Malyshev. Company has already set aside funds for the project realization in its financial models for 2025-2026. However, the previously announced capex of $2.1 billion in 2025 does not include them. In the next two years, the company expects capex to grow relative to 2025, but not more than to $2.5-3 billion.