Nornickel

NORNICKEL'S BOARD OF DIRECTORS DISCUSSED LONG-TERM INVESTMENT PROGRAMME AND DIVIDEND TARGETS

Retrieved on: 
Monday, March 29, 2021
Financial markets, Corporate finance, Financial economics, Shareholders, Stock market, Dividends, Nornickel, Share

Moscow, March 29, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that its Board of Directors discussed the company's long-term investment programme to 2030, and invited the shareholders to continue consultations on the dividend targets proposed by the management.

Key Points: 
  • Moscow, March 29, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that its Board of Directors discussed the company's long-term investment programme to 2030, and invited the shareholders to continue consultations on the dividend targets proposed by the management.
  • The management has presented to the Board of Directors an investment programme to 2030 with a total capital expenditure budget of approximately RUB 2 tn (approximately USD 27 bn at current exchange rate).
  • The Board of Directors has taken a note of the long-term investment programme and invited the shareholders to continue discussions on dividend targets based on the distribution of free cash flow to ensure a sustainable financial model for the Company.
  • Nevertheless, the decision on the exact amount of dividend payments and dividend targets of course remains the prerogative of our shareholders.

NORNICKEL MAJOR SHAREHOLDERS AGREED ON A SPIN-OFF OF BYSTRINSKY PROJECT

Retrieved on: 
Friday, March 26, 2021
Industry economics), Mining, Krasnoyarsk Krai, Norilsk, Nornickel, Economic taxonomy, Vladimir Potanin, Interros, Bystrinsky District, Ore

The Company's major shareholders are proposing to allocate entire Nornickel's stake in Bystrinsky project among all Nornickel's shareholders.

Key Points: 
  • The Company's major shareholders are proposing to allocate entire Nornickel's stake in Bystrinsky project among all Nornickel's shareholders.
  • Norilsk Nickel holds 50.01% of shares in Bystrinsky project, which includes Bystrinskoye ore deposit and Bystrinsky concentrator.
  • The President of Nornickel, Vladimir Potanin commented on the proposal of major shareholders, "We welcome the decision of our major shareholders to support the spin-off of the Bystrinsky project.
  • Bystrinsky project (GRK Bystrinskoe), including Bystrinskoye ore deposit and Bystrinsky concentrator (BystrinskyGOK), is owned by Nornickel (50.01%), CIS NRF Holdings (36.66%, representing the interests of Interros Group) United Resources Limited (13.33%, HOPU Investments).

NORNICKEL CUTS EMISSIONS AT KOLA PENINSULA BY 85% IN 2021

Retrieved on: 
Monday, March 22, 2021
Monchegorsk, Metallurgical processes, Metallurgy, Kola Peninsula, Pyrometallurgy, Kola, Mining, Geography of Europe, Chemistry, Nornickel

It was previously a major source of sulphur dioxide emissions at Kola MMC's Monchegorsk site.

Key Points: 
  • It was previously a major source of sulphur dioxide emissions at Kola MMC's Monchegorsk site.
  • In early March, the shop stopped pyrometallurgical operations: the furnaces and converters were shut down and sulphur dioxide emissions ceased.
  • For this purpose, the concentrate shipment unit of the Kola MMC refining shop will be used.
  • Closing the smelting shop will reduce sulphur dioxide emissions in Monchegorsk to less than 30 ktpa in 2021, and with the shutdown of the smelting shop in the town of Nikel, the emissions in Kola Peninsula in 2021 will be 85% lower compared to 2015.

THE NORILSK DIVISION ADOPTS PLAN TO RESUME OPERATIONS AT OKTIABRSKY AND TAYMIR MINES AND NORILSK CONCENTRATOR

Retrieved on: 
Tuesday, March 16, 2021
Norilsk, Economic geology, Ore, Towns, Geography of Russia, Industry economics), Nornickel

The Taimyrsky mine (4.3 mtpa of ore) is scheduled to resume mining in early June, with a full recovery expected to take approximately one month.

Key Points: 
  • The Taimyrsky mine (4.3 mtpa of ore) is scheduled to resume mining in early June, with a full recovery expected to take approximately one month.
  • At Norilsk Concentrator, the disseminated ore processing circuit (5.2mtpa ore throughput) has been idled and repairs are being carried out.
  • The Norilsk Concentrator's copper circuit (4mtpa of ore throughput) resumed operations on March 15th after a temporary shutdown for technical inspections and repairs.
  • The mining equipment has not been impacted and it is ready to resume operations," said Nikolay Utkin, Senior Vice President and Head of the Norilsk Division.

NORNICKEL PAYS FULL DAMAGES IN CONNECTION WITH FUEL SPILL AT NORILSK'S COMBINED HEAT

Retrieved on: 
Wednesday, March 10, 2021
Chemistry, Physical sciences, Natural sciences, Chemical elements, Native element minerals, Transition metals, Noble metals, Dietary minerals, Nornickel, Rhodium, Iridium, Cobalt

Nornickel has provided the funds for its subsidiary's payment.

Key Points: 
  • Nornickel has provided the funds for its subsidiary's payment.
  • Compensation for damage to local bodies of water amounted to 145,492,562,907.96 roubles, paid into the federal budget.
  • The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.
  • Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20

NORNICKEL CONTINUES WORKING ON BLOCKING THE GROUNDWATER INFLOW AT OKTIABRSKY AND TAYMIR MINES

Retrieved on: 
Tuesday, March 9, 2021
Chemistry, Physical sciences, Natural sciences, Chemical elements, Native element minerals, Transition metals, Precious metals, Noble metals, Norilsk, Nornickel, Palladium, Nickel

Moscow, March 9, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, continues working on blocking the groundwater inflow at Oktiabrsky and Taymir mines.

Key Points: 
  • Moscow, March 9, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, continues working on blocking the groundwater inflow at Oktiabrsky and Taymir mines.
  • By now, one of the mine workings has been filled with hardening backfill mixture.
  • In the coming week, once the mixture will harden, water valves will be shut and the inflow of groundwater should stop, said Senior Vice President, Head of Norilsk Division, Nikolay Utkin.
  • Nornickel is planning to restore the disseminated ore processing circuit at the concentrator by upgrading the loading and processing flow by March 16th.

NORNICKEL WILL SET A TIMELINE TO RESTORE OPERATIONS AT MINES AND NORILSK CONCENTRATOR

Retrieved on: 
Wednesday, March 3, 2021
Krasnoyarsk Krai, Norilsk, Nornickel, Mining, Towns, Geography of Russia

At the end of February, the company suspended operations at Oktyabrsky and Taimyrsky mines due to flooding from natural groundwater.

Key Points: 
  • At the end of February, the company suspended operations at Oktyabrsky and Taimyrsky mines due to flooding from natural groundwater.
  • On March 9, Nornickel's Management's board will consider the timeline for the full restoration of operations at both mines, as well as estimate an impact on production guidance.
  • The company has also developed a programme of immediate repairs to both production lines of the Norilsk Concentrator.
  • On February 20, an ore transfer point and adjacent walkway collapsed at the Norilsk Concentrator as structural reinforcement repairs were carried out.

NORNICKEL ANNOUNCES CHANGES IN GOVERNANCE STRUCTURE

Retrieved on: 
Monday, March 1, 2021
Chemistry, Physical sciences, Chemical elements, Native element minerals, Noble metals, Transition metals, Precious metals, Nornickel, Rhodium, Ruthenium, Platinum, Iridium

The issuer is solely responsible for the content of this announcement.

Key Points: 
  • The issuer is solely responsible for the content of this announcement.
  • Moscow, March 1, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that in order to improve the management model and further develop the divisional structure, the company terminates the position of First Vice President - Operations Director.
  • The changes in the governance structure will be an important addition to the previous steps to increase the level of responsibility of the local managers, improve operational and investment efficiency, and strengthen the discipline of industrial safety and environmental risk management.
  • The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

NORNICKEL PARTIALLY SUSPENDS OPERATIONS AT OKTYABRSKY AND TAIMYRSKY MINES

Retrieved on: 
Wednesday, February 24, 2021
Krasnoyarsk Krai, Norilsk, Nornickel, Mining, Oktyabrsky mine, Industry economics), Flooded mine

Moscow, February 24, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper has partially suspended its mines Oktyabrsky and Taimyrsky.

Key Points: 
  • Moscow, February 24, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper has partially suspended its mines Oktyabrsky and Taimyrsky.
  • On February 12, during tunnelling operations, natural groundwater inflow was detected at the 350 meters depth mark in the mine headwall at Oktyabrsky mine.
  • Due to the increased water inflow to the drainage systems of the mine and in accordance with safety procedures and applicable law, the Company has partially suspended operations at the mine until flooding ceases.
  • Operations at the Taimyrsky mine have also been partially suspended, since there are connected underground workings between the two mines, and water has found its way into this mine's horizon.

EMERGENCY AT NORILSK CONCENTRATOR

Retrieved on: 
Monday, February 22, 2021
Norilsk, Towns, Geography of Russia, Krasnoyarsk Krai, Nornickel

Norilsk, February 22, 2021 - At 4:15 a.m. local time on the night of February 19 to 20, the building of the ore reloading facility and the adjoining walkway collapsed in the Norilsk Concentrator during repairs to reinforce the structure.

Key Points: 
  • Norilsk, February 22, 2021 - At 4:15 a.m. local time on the night of February 19 to 20, the building of the ore reloading facility and the adjoining walkway collapsed in the Norilsk Concentrator during repairs to reinforce the structure.
  • According to preliminary information, the accident was due to gross violations of safety rules by the management of Norilsk Concentrator.
  • The general director of the Norilsk Concentrator has been dismissed from his position.
  • The Investigative Committee of the Russian Federation has initiated an official inquiry and detained four senior officers of the Norilsk Concentrator and its contractor.