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Norilsk Nickel, Murmansk region agree on state support

Murmansk region will support Norilsk Nickel's investment project of reconfiguring production at Norilsk Nickel's Kola MMC division in the amount of RUB 25.7 billion. This is provided for by a special investment contract concluded by and between the company and the region during the St. Petersburg International Economic Forum, the company informed.

The project designed for 5 years from 2018 to 2023 covers all production facilities of Norilsk Nickel in Murmansk region: Zapolyarny, Nickel, Monchegorsk. As a result, Kola MMC's assets will increase almost twice, emissions of harmful substances as a result of production activities will be reduced substantially, primarily at the Nickel production site, while cost efficiency will grow resulting from a 17% reduction in operating costs and lower metal losses.

PJSC MMC Norilsk Nickel (tax number: 8401005730) is Russia's largest diversified mining and metallurgical company, the world's leading producer of nickel and palladium and one of major platinum, rhodium, copper and cobalt producer. Besides, the company produces a wide range of by-products including gold, silver, tellurium, selenium, iridium and ruthenium. The mining and processing assets of the MMC Norilsk Nickel group are located in the Norilsk industrial area, the Kola Peninsula as well as Finland, USA, Australia, Botswana, and RSA.

IFRS net profit of MMC Norilsk Nickel for 2017 decreased by 16% to $2.123 billion from $2.531 billion the year before. Revenue increased by 11% to $9.146 billion from $8.259 billion, gross profit by 10.4% to $4.546 billion from $4.118 billion. Pre-tax profit was $2.844 billion against $3.276 billion the year before. Consolidated EBITDA was $3.995 billion against $3.899 billion the year before (+2.5%).

"AK&M", 28.05.2018 16:41


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