Norimet will continue to act as a pgm vendor for the Russian giant Norilsk Nickel, despite significant changes to its sales network.

The firm has removed Peter Holodny, the chief of its former main sales unit, as part of the new strategy detailed on Friday.

"In line with GDN restructuring programme the post of Norimet's president is no longer necessary and therefore had been abolished," Norilsk declared to Reuters.

However, Norilsk also made clear that it would continue to operate as an investment holding company for foreign investments, including pgm producer Stillwater Mining.

London-based Norilsk Nickel Europe Ltd will take control of European sales, while Norilsk Nickel USA Ltd will sell in American markets.