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MMC Norilsk Nickel: Nornickel disagrees with methodology for calculating damage caused by the diesel fuel spill

MMC Norilsk Nickel (MNOD) 
NORNICKEL DISAGREES WITH METHODOLOGY FOR CALCULATING DAMAGE CAUSED BY THE 
DIESEL FUEL SPILL 
 
08-Jul-2020 / 14:07 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
PRESS RELEASE 
 
       Public Joint Stock Company «Mining and Metallurgical Company «NORILSK 
          NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company") 
 
 NORNICKEL DISAGREES WITH METHODOLOGY FOR CALCULATING DAMAGE CAUSED BY THE 
                             DIESEL FUEL SPILL 
 
 Moscow, July 8, 2020 - Nornickel, the world's largest producer of palladium 
and high-grade nickel and a major producer of platinum and copper, announces 
 that it disputes the amount of damage caused to the environment as a result 
  of the diesel fuel spill, which has been calculated by the Federal Service 
   for Supervision of Natural Resources Management (Rosprirodnadzor). At the 
   same time, Nornickel reiterates its commitment to fully cover the cost of 
remediation of the environmental impact of this accident. Today, the company 
                            sent a letter to that effect to Rosprirodnadzor. 
 
According to the Company, the calculations of damages caused to water bodies 
    and soil made by the Yenisei Interregional Department of Rosprirodnadzor 
    were based on certain assumptions, which led to distortion of the damage 
                                      estimates and thus should be adjusted. 
 
    In particular, the maximum applicable multiple of 5x was applied in this 
      calculation, which reflects the duration of pollutants having negative 
         impact on a water body assuming that no measures have been taken to 
 eliminate the impact (so-called "Kdl coefficient" or duration coefficient). 
  Meanwhile, according to the prevailing legal practice, such a multiple due 
   to being punitive in nature is applied only in cases when no efforts have 
been undertaken at all or no efforts have been undertaken over a long period 
  of time to clean up pollution. Taking into account the Company's immediate 
       response and launch of the clean-up of the diesel spill, applying the 
                     maximum multiple ("Kdl coefficient") was not justified. 
 
   The existing judicial practice also refutes the justification of applying 
         the maximum multiple to cases of pollution of water bodies with oil 
sub-products due to their solubility. Diesel fuel, which have been leaked to 
 a water body, does not fall under the category of soluble pollutants, which 
                         are not feasible to collect from the water surface. 
 
 In the Company's opinion, the volume of oil products which has been spilled 
       to the water bodies has been also determined incorrectly, since their 
  content in the water-fuel mixture, contaminated soil and sorbent collected 
    in the HPP-3 area was estimated before the collection of oil products in 
                                                    this area was completed. 
 
  At the same time, the Company reiterates its commitment to fully cover the 
  cost of remediation of the environmental impact of the fuel spill accident 
in line with the applicable legislation. Furthermore, Nornickel is ready not 
  only to remediate the environmental impact, but also to completely restore 
the ecosystem of the impacted area in close cooperation with Rosprirodnadzor 
                            and other government agencies and organizations. 
 
      The Company has organized regular monitoring of the environment in the 
    impacted area in order to receive objective measurement of the pollution 
    levels and the effectiveness of clean-up efforts. The recent water tests 
  taken by Rosprirodnadzor confirm that pollution levels in the water bodies 
    were in line with the background maximum permissible levels of pollution 
                                                                      (PDK). 
 
      Nornickel has already launched land recultivation program. The Company 
         jointly with the leading Russian and international experts has been 
    simultaneously looking for the best technologies and tools, which should 
                        help to restore the environment as much as possible. 
 
    The Company is offering cooperation to Rosprirodnadzor, other government 
   agencies and independent experts, in order to prepare most efficient plan 
 for environment rehabilitation. This work stream can be arranged within the 
      intragovernmental commission, which has been set up by the Ministry of 
               Natural Resources, as well as within an ad hoc working group. 
 
                                                    FOR INFORMATION PURPOSES 
 
    Nornickel is running a major clean-up operation of the accidental diesel 
   fuel spill from one of the Heat and Power Plant #3 (HPP-3) emergency fuel 
     storage tanks. The HPP-3 area and adjacent land as well as water bodies 
       nearby are being cleaned-up. Alongside with the Ministry of Emergency 
  Situations (EMERCOM), a special assistance to prevent the spread of diesel 
     in water bodies has been provided by the Marine Rescue Service group of 
         Rosmorrechflot, and the special rescue divisions of Gazpromneft and 
                                                                  Transneft. 
 
      According to EMERCOM's assessment, as of July 8, 2020, with the direct 
involvement of Norilsk Nickel, 33,401 cubic meters of fuel-water mixture was 
collected, including 25,702 cubic meters collected from the water bodies and 
 7,699 cubic meters collected from fuel and water pits. Some 188,502 tons of 
     contaminated soil has been collected and transported, 140.2 km of river 
  coastline and 271,720 square meters of contaminated land have been treated 
  with sorbents. In total, 496 of personnel and 248 pieces of equipment have 
           been involved in the clean-up by Norilsk Nickel and its partners. 
 
        On June 19th, the Minister of Emergency Situations, Evgeny Zinichev, 
  reported to President of Russia, Vladimir Putin, that "We can say that the 
 second phase of the liquidation of emergency situation is nearing its end". 
  The collected water-fuel mixture will be transported to a utilization site 
      as part of phase three. At the final phase, full rehabilitation of the 
                                            environment will be carried out. 
 
                                                           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.:  74568 
EQS News ID:   1089155 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

July 08, 2020 07:07 ET (11:07 GMT)

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