LONDON — MMC Norilsk Nickel is reportedly considering asking the Russian government to exempt it from export duties.

The Moscow-based company is considering appealing to President Vladimir Putin because nickel market conditions are currently so poor, a company representative told AMM sister publication Metal Bulletin.

Russia media reports suggested that new Norilsk chief executive officer Vladimir Potanin had already asked for the exemption in a letter, but the representative did not confirm this.

Reports also stated that the export duties paid by Norilsk bring in up to 15 billion rubles ($500 million) a year for the Russian state.

It was further reported that major Norilsk shareholder United Co. Rusal, Moscow, supported the plan to call for an exemption.

“We can comment that the company is aware of the letter and supports the initiative,” a Rusal spokeswoman told Metal Bulletin.

A version of this article was first published by AMM sister publication Metal Bulletin.