DJ NORNICKEL EXPANDS PARTNERSHIP WITH THE MURMANSK REGION GOVERNMENT
MMC Norilsk Nickel (MNOD) NORNICKEL EXPANDS PARTNERSHIP WITH THE MURMANSK REGION GOVERNMENT 17-Jun-2022 / 12:11 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
PRESS RELEASE
June 16, 2022
Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")
NORNICKEL EXPANDS PARTNERSHIP WITH THE MURMANSK REGION GOVERNMENT
Nornickel and the Government of the Murmansk Region have agreed to partner in implementing local investment and social projects. The relevant memorandum was signed during the St Petersburg Economic Forum by Andrey Chibis, Governor of the Murmansk Region, and Sergey Dubovitsky, Senior Vice President for Strategy, Strategic Projects, Logistics and Procurement at Nornickel.
The document highlights the importance of boosting investment to drive sustainable economic growth in the Murmansk Region, as well as the need to build a favourable financial and administrative environment for business development. It also emphasises the significance of joint work between the public sector and major businesses in bringing new, highly efficient and green production capacities to the market and unlocking industrial and human potential.
"Our goal is to create an advanced, highly efficient and environmentally friendly copper production facility in Monchegorsk. This is a large and complex investment project, and we are pleased to be delivering it in full agreement with the Government of the Murmansk Region and the Governor personally. We are certain that their active support will help us implement all our projects to the best of our ability," said Sergey Dubovitsky.
"The construction of Big Copper, a green metallurgy plant in Monchegorsk, will foster integrated development across several industries. The Murmansk Region seeks to develop sustainably, and by accommodating a new green facility it will make the next big step towards achieving this goal in the Russian North. Also, the project will bring in more than RUB 140 bn of investment and create new jobs. In addition, Nornickel's management has decided to build a new neighbourhood in Monchegorsk for employees. And last but not least, we have agreed that this facility will employ our graduates. It is essential that Murmansk Region residents receive relevant training to be the key workforce for major employers operating locally,' said the Governor.
Big Copper will leverage the advanced roast-leach-electrowin technology, which has minimal environmental impact. Sulphur recovery into acid is set to reach at least 99.5%, and the plant will have a zero-discharge closed water circuit. Another important undertaking is the construction of a new converter matte separation sector at Kola MMC, which involves reconfiguration of the refining capacities to increase the output of non-ferrous metals.
In addition to developing industrial production, the Company plans to contribute to the social development of Monchegorsk. It will build a modern residential quarter with two thousand apartments, as well as social infrastructure, including kindergartens, schools, medical facilities, and more.
Furthermore, the memorandum envisages joint efforts by Nornickel and the Murmansk Region to work out ways to support investment projects in the Capital of the Arctic Advanced Development Zone under special investment contracts.
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 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.
MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are accepted for trading on the Saint-Petersburg Stock Exchange.
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: MSCM TIDM: MNOD LEI Code: 253400JPTEEW143W3E47 Sequence No.: 0 EQS News ID: 1378269 End of Announcement EQS News Service =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1378269&application_name=news
(END) Dow Jones Newswires
June 17, 2022 05:11 ET (09:11 GMT)
