MMC Norilsk Nickel (MNOD)
NORNICKEL INCREASES ITS FINANCIAL COMITMENT TO SUPPORT ITS EMPLOYEES AND
REGIONS OF OPERATIONS AMID THE COVID-19 PANDEMIC TO RUB 20 BLN
17-Jul-2020 / 13:40 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 INCREASES ITS FINANCIAL COMITMENT TO SUPPORT ITS EMPLOYEES AND
REGIONS OF OPERATIONS AMID THE COVID-19 PANDEMIC TO RUB 20 BLN
Moscow, July 17, 2020 - Nornickel, the world's largest producer of palladium
and high-grade nickel and a major producer of platinum and copper, announces
that it continues to support its employees and regions of operations amid
the COVID-19 pandemic. The Company has developed a new package of
anti-pandemic initiatives totalling approximately RUB 10bn until this
year-end. These initiatives will focus on improving virus protection at
work, employees' support, assistance to regional healthcare, and support of
small- and medium-size enterprises (SMEs). The new package brings the
financial commitment of Nornickel to fight against the COVID-19 to a total
amount of RUB 20bn in 2020.
The pandemic has not had any material impact on the Company's operations
largely owing to the anti-virus campaign launched in March 2020.
Nonetheless, the epidemiological situation in some of regions of operations,
specifically in Norilsk, is getting tense. The Company has thus decided to
step up its safety efforts.
Nornickel has transitioned most of its office employees to work from home,
introduced additional prevention measures at production sites and continues
to provide full support to its regions of operations and local communities.
The Company has purchased more than 160,000 coronavirus tests and over
100,000 express antibody tests, delivered two stationary (for Norilsk and
Monchegorsk) and seven mobile labs, almost 400 thermal cameras and a large
volume of various personal protection gear (including over 10 mln protection
masks). The Group through its subsidiaries has granted subsidies for the
freight delivery to Norilsk to local SME customers, utility service
subsidies for non-profit organisations, and has provided local entrepreneurs
with personal protection gear and food packages.
Nornickel spent approximately RUB 10.5bn since the launch of the programme
by the end of June. Protecting lives and health of the Company's employees
and residents against the COVID-19 remains on top of Nornickel's priorities.
The Company is providing full support to make sure that its cities of
operation have all necessary medical equipment, medicines, and consumables.
Furthermore, additionally Nornickel upon requests from the regional and
local authorities provides regional healthcare with whatever they need.
The second package, which has been developed by the Company, aims to prepare
for a potential negative-case scenario should COVID-19 cases continue to
rise. Nornickel has allocated towards this approximately RUB 10bn for the
second half of 2020.
As the first step of the new programme, the Company has allocated emergency
aid to the city of Norilsk in response to a request from the city's mayor.
Nornickel, in particular, is arranging a delivery of CT scanner to Norilsk.
The pandemic and its impact on almost all aspects of people lives have
driven the Company to review its approach to operations. According to newly
introduced health and safety standards, the health of the employees on sites
is now monitored daily, facilities undergo regular disinfection and
employees are provided with medical protection gear.
Special initiatives have been introduced for rotation workers, with the
duration of rotation shifts extended, observation centres arranged or being
built, and mandatory virus testing introduced.
Several digital services to support everyday life are being developed,
including remote learning, healthcare treatment, retail and services,
maintaining new safety standards across production sites, cities, airports,
public transportation, and public spaces.
The Company reiterates in full all its previous commitments to is partners,
including social, sports, and cultural projects.
Vladimir Potanin, Nornickel's President, commented: "The 2020 pandemic and
its implications will require a considerable increase in the social
spending. The Company is committed to allocate additional support to protect
its employees and improve the quality of life in the regions of operations,
complete top-priority healthcare, educational and urban development
projects, and support indigenous people."
FOR INFORMATION:
As a first tranche, Nornickel has allocated RUB 10.5bn to a fight against
COVID-19 and to support social stability in the regions of operations. The
Company funded purchases of medical equipment, medicines, and personal
protection gear for the regional healthcare institutions, Nornickel's
operating sites and employees, as well as provided additional social support
to its employees and local SMEs. The expansion in-patient hospital
capacities has been supported.
Edinstvo LLC, Nornickel's subsidiary, operating a fibre optic line in the
Norilsk Industrial District, has expanded free of charge the bandwidth
capacity of digital communication channels available to local mobile
operators (Novy Urengoy-Norilsk) by 44-45% of its previous capacity.
The Company has arranged delivery of food packages to socially-disadvantaged
population groups and local SMEs, and provided additional charity funding to
the regions of operations.
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.: 76535
EQS News ID: 1096553
End of Announcement EQS News Service
(END) Dow Jones Newswires
July 17, 2020 06:40 ET (10:40 GMT)
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