GMK Norilsky Nickel is going to invest 45bn rub. in 2010 which is 60% higher prior year figures - 28bn rub., the company informed.
In the development of OGK-3 (Nornickel being a major holder) 25bn rub. will be invested or 2.5. fold higher this year. The 2010-output is expected to reach 300ths ton of nickel.
Earlier, the Company informed that it relies upon 232ths ton in the production at the Russian entities and 52ths ton at Norilsk Nickel International. The copper output will gain 382ths ton in Russia and 20ths ton at Norilsk Nickel International.
Nornickel is the largest deversified mining-metallurgic company and nickel/palladium maker. Besides, it is a producer of associated metals. The basic divisions are located in Taimyr and Murmansk regions. The foreign assets involve the entities in Finland, Australia, South Africa.
GMK is a major holder of Stillwater Mining Company (USA).
In 2008 Nornickel increased the output 8.5% to 299.72ths ton; copper production rose to 419.21ths from 415.6ths ton.
The 2008-net losses (IAS) gained $555mln against $5.276bn in profit prior year; revenues from sales being down 18% to $13.98bn from $17.119bn; EBITDA delcined from $10.253bn to $5.807bn (43%).
The share capital is split in 190627747 common stocks of 1 rub. par. The major holders involve Interros (25%+1) and RUSAL (25%+2), VEB (3.68%) and A.Usmanov being a co-owner of Metalloinvest (4%).
"AK&M", 11/12/2009
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