MMC Norilsk Nickel (MNOD)
Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")
NORNICKEL AND KRASNOYARSK GOVERNMENT SIGN AGREEMENT ON COOPERATION IN INVESTMENT PROJECTS
Moscow, June 28, 2021 - MMC Norilsk Nickel, the world's largest producer of palladium and high-grade nickel and one of the largest producers of platinum and copper, and the Government of the Krasnoyarsk Territory signed today an agreement on cooperation in the implementation of investment projects in the Krasnoyarsk Territory. The document was signed on June 28 in the representative office of the Krasnoyarsk Territory in Moscow by Vladimir Potanin, Nornickel President, and Alexander Uss, Governor of the Krasnoyarsk Territory.
The agreement is intended to support businesses that run investment projects in the region. One of such projects is Nornickel's "Construction of new mining facilities and upgrade of Zapolyarny Mine (South Cluster)", which provides for an increase in ore production up to 9 mt by 2027 through the expansion of the open pit and underground mining operations. The total volume of production as a result will increase sevenfold. The project will open up to 2,000 additional jobs in the Norilsk Industrial District and is included in the "Yenisei Siberia" integrated investment programme approved by the Russian government in 2019.
The pursuit of Nornickel's investment projects will contribute to a larger tax base of the Krasnoyarsk Territory's consolidated budget, improve the environmental situation, develop the industrial potential of the Krasnoyarsk Territory, increase labour productivity and boost the regional economy. To this end, the Krasnoyarsk Territory Government is implementing a set of measures to stimulate investment activity in the region, primarily support measures in the area of tax incentives and improvement of local legislation.
Nornickel plans to carry out social and infrastructure projects in the Krasnoyarsk Territory that will contribute to region's development. The priority areas are community, culture, education and science, higher operational efficiency, and innovation. The Company is ready to invest at least RUB 7.13 bn in these projects until 2028.
Vladimir Potanin, Nornickel President, commented: "Achieving large-scale tasks in such a vast and strategically important region for Russia as the Krasnoyarsk Territory is impossible without cooperation between the state and large private businesses. This agreement is the next step in the development of private-public partnership. And we are glad that the regional authorities are taking this step towards responsible investors. All our projects in the Krasnoyarsk Territory are aimed at long-term growth and sustainable development of the region. We see the support of the regional authorities in creating a favourable climate for investors and are ready to invest in large-scale projects in the interests of the entire territory".
Alexander Uss, Krasnoyarsk Territory Governor, commented: "Obviously the region and the company are interested in a constructive dialogue and meaningful cooperation. This project is named South Cluster and is intended to solve strategic tasks set by Russia's President in relation to the development of the Northern Sea Route and the expansion of the cargo traffic along the route up to 80 mt.
The signed agreement reinforces previous intentions. The company confirms its interest to execute investment projects in the Krasnoyarsk Territory. In its turn the regional government will cultivate favourable investment climate, develop proposals on state support of industrial activity and improve legislation in this domain".
ABOUT THE COMPANY
MMC Norilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.
The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and South Africa.
MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.
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