Minor Rust on Nickel

Unfortunately, there's not much you can do except keep a coat of wax or a good rust preventing lube on the surface.

The rust is THROUGH the finish and into the steel underneath.
There's simply no possible way to "remove" it or even make it look much better.
Since rust gets under the plating, it can continue to rust the underlying steel so keep it coated with something.
Also, keep bore solvent off the spots. It can infiltrate through the breaks in the plating and cause the remainder to start lifting off.

If you want to make it look better, or "fix it", your only real option is to have it refinished before the rust spreads too far or too deep.
This is one of the down sides of plated finishes. Once the surface is compromised, there's no repairing or polishing that can help. Any attempts will only further damage the finish.
Its either live with it or have it refinished.
 
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