Abstract Much of the world’s supply of battery metals and platinum group elements (PGE) comes from sulphide ore bodies formed in ancient sub-volcanic magma plumbing systems. Research on magmatic sulphide ore genesis mainly focuses on sulphide melt-silicate melt equilibria. However, over the past few years, increasing evidence of the role of volatiles in magmatic sulphide ore systems has come to light. High temperature-high pressure experiments presented here reveal how the association between sulphide melt and a fluid phase may facilitate the coalescence of sulphide droplets and upgrade the metal content of the sulphide melt. We propose that the occurrence of a fluid phase in the magma can favour both accumulation and metal enrichment of a sulphide melt segregated from this magma, independent of the process producing the fluid phase. Here we show how sulphide-fluid associations preserved in the world-class Noril’sk-Talnakh ore deposits, in Polar Siberia, record the processes demonstrated experimentally.