Norilsk Nickel has approved an updated strategy in the field of ecology

AK&M 29 February 2024 18:00

Norilsk Nickel has approved an updated strategy in the field of ecology and the main directions of carbon neutrality. This is stated in the company's message.

The environmental strategy was updated due to the changed geopolitical situation and taking into account the company's accumulated experience, stricter requirements of Russian environmental legislation, as well as international standards demanded by buyers of products.

Now the strategy is divided into mandatory and voluntary parts. The mandatory part is aimed at compliance with legal requirements and includes targets in seven main areas: the number of emergencies, air, water, tailings and waste, soil, biodiversity, and exchange requirements.

To achieve these goals, programs have been developed that include more than 150 specific activities, with estimated costs for the period 2023-2031, which are estimated at more than 500 billion rubles.

The main measures include reducing sulfur dioxide emissions in Norilsk and Monchegorsk, recycling and reuse of water; commissioning and reconstruction of wastewater treatment plants at releases to water bodies; land reclamation, sanitation, reforestation; monitoring of environmental components and implementation of an automatic control system for emissions of pollutants into the atmosphere; assessment of the impact on biodiversity in all areas affected by the company's activities.

MMC Norilsk Nickel is a diversified mining and metallurgical company that is the world's largest producer of palladium and high–quality nickel, as well as platinum, copper, cobalt, silver, gold, and iridium. The production units of MMC Norilsk Nickel are located in the Norilsk Industrial District, on the Kola Peninsula and in the Trans-Baikal Territory in Russia, as well as in Finland. The company's shares are listed on the Moscow and St. Petersburg Stock Exchanges.

Norilsk Nickel's net profit under IFRS for the first half of 2023 fell by 79% to $1.07 billion from $5.06 billion a year earlier. Consolidated revenue amounted to $7.16 billion, a decrease of 20%. EBITDA decreased by 30% to $3.37 billion from $4.8 billion.