PJSC Nornickel continues to streamline its organizational structure, with the Group's core operations will be grouped into three divisions — Norilsk, Kola and Trans-Baikal, the company informed.
The Management Board approved new structure on August 5. These three divisions represent Nornickel's three key production sites in Russia. The divisions will combine the Group's facilities located in the respective regions involved in core operations (mining, metallurgical) and all auxiliary activities (energy supply, service and repairs, etc.), including those which do not directly support core operations. The current legal structure of the Group's subsidiaries will remain unchanged. The corporate head-office will retain control over Group-wide business lines (such as HR, finances, legal and security) as well as continue to oversee operations, logistics, sales and distribution and strategic projects.
Nikolay Utkin, Director of Polar Division, will become the head of the new Norilsk Division. He will be also appointed Senior Vice President. Evgeny Borzenko, CEO of Kola MMC, will become the head of the new Kola Division. Finally, Trans-Baikal Division will be led by Alexander Popov, currently the CEO of Bystrinsky GOK. Both Evgeny Borzenko and Alexander Popov will be also appointed Vice Presidents, the statement notes.
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 Norilsk Nickel for 2019 increased by 95% to $5.966 billion from $3.059 billion a year earlier. Consolidated revenue went up 16% to $13.6 billion, EBITDA increased by 27% to $7.9 billion.
