MMC Norilsk Nickel (MNOD)
NORNICKEL DISPOSES OF HONEYMOON WELL NICKEL PROJECT IN AUSTRALIA
19-Jun-2020 / 04:00 MSK
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PRESS RELEASE
19 June 2020
Public Joint Stock Company «Mining and Metallurgical Company «NORILSK
NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")
NORNICKEL DISPOSES OF HONEYMOON WELL NICKEL PROJECT IN AUSTRALIA
Moscow, June 19, 2020 - Nornickel, the world's largest producer of palladium
and high-grade nickel and a major producer of platinum and copper, announces
that through its Australian subsidiary, MPI Nickel Pty Ltd, it has entered
into a definitive agreement with BHP Billiton Nickel West Pty Ltd ("BHP" or
"the Buyer"), a wholly owned subsidiary of BHP Group Limited, to sell its
Honeymoon Well Nickel Project ("the Project") for an undisclosed amount.
The Project located in Western Australia encompasses Honeymoon Well, a
greenfield nickel development, as well as Albion Downs North and Jericho
Joint Ventures, both exploration projects where BHP currently owns the
remaining 50% stake. The Project is the only Australian asset remaining in
the Company's portfolio.
BHP has an in-depth knowledge of the Project, which is expected to
streamline the closing of the transaction.
"With the sale of Honeymoon Well Nickel Project we complete the strategic
exit from Australian operations and reinforce our focus on the development
of our Tier-1 asset portfolio in Russia. We are grateful to BHP as our JV
partner in Australia and appreciate their commitment to prompt execution of
the transaction", Sergey Dubovitsky, Nornickel's Senior Vice President for
Strategy, Strategic Projects, Logistics and Procurement commented.
The transaction is subject to regulatory approvals and other customary
closing conditions.
Citigroup has acted as a financial advisor to Nornickel.
ABOUT THE COMPANY
MMC Norilsk Nickel is a diversified mining and metallurgical company, the
world's largest producer of palladium and high-grade nickel and a major
producer of platinum and copper. The company also produces cobalt, rhodium,
silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other
products.
The production units of Norilsk Nickel Group are located at the Norilsk
Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as
well as in Finland and South Africa.
MMC Norilsk Nickel shares are listed on the Moscow and on the
Saint-Petersburg Stock Exchanges, ADRs are traded over the counter in the US
and on the London, Berlin and Frankfurt Stock Exchanges.
Media Relations: Investor Relations:
Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20
Email: pr@nornik.ru Email: ir@nornik.ru
ISIN: US55315J1025
Category Code: MSCH
TIDM: MNOD
Sequence No.: 70739
EQS News ID: 1073959
End of Announcement EQS News Service
(END) Dow Jones Newswires
June 18, 2020 21:00 ET (01:00 GMT)
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