DJ NORNICKEL INCREASES INVESTMENTS IN INDUSTRIAL SAFETY
MMC Norilsk Nickel (MNOD)
NORNICKEL INCREASES INVESTMENTS IN INDUSTRIAL SAFETY
29-Sep-2020 / 17:45 MSK
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PRESS RELEASE
Public Joint Stock Company «Mining and Metallurgical Company «NORILSK
NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")
NORNICKEL INCREASES INVESTMENTS IN INDUSTRIAL SAFETY
Moscow, 29 September, 2020 - Nornickel, the world's largest producer of
palladium and high-grade nickel and a major producer of platinum and copper,
announces its plans to increase investments in modernization of the fuel and
energy complex in 2020-2024 by over 100 billion roubles (approximately USD
1.3 billion as of current exchange rate).
These plans envisage an expansion of a large-scale investment program in
energy infrastructure on Taimyr Peninsula that has been launched to provide
energy resources to new growth projects. The expansion is specifically
focused on industrial safety of all facilities including those built on
permafrost.
The enhanced investment programme includes replacement of equipment at heat
and hydro power stations, upgrade of power grid and gas pipeline systems and
modernization of fuel tank storages.
First Vice president, Chief Operating Officer, Sergey Dyachenko commented,
"The priority of our corporate strategy is sustainable production growth
that is impossible to execute without development of infrastructure. For
this very reason, Nornickel is aligning its investments in modernization of
the fuel and energy complex with the development of mining and metallurgical
assets. A special focus of these investments is the monitoring of the
permafrost conditions. We plan to introduce a systematic monitoring of
permafrost areas to see how they are affected by climatic fluctuations in
Taimyr in order to ensure top level safety of our energy infrastructure that
is critical to our production assets and to residents of Norilsk industrial
district".
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: MSCL
TIDM: MNOD
LEI Code: 253400JPTEEW143W3E47
Sequence No.: 85108
EQS News ID: 1137723
End of Announcement EQS News Service
(END) Dow Jones Newswires
September 29, 2020 10:45 ET (14:45 GMT)
