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MMC Norilsk Nickel (MNOD)
Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")
NORNICKEL LEARNS ABOUT A CLAIM FROM RUSSIA'S AGENCY FOR FISHERY
Moscow, July 30, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has learned from the press-release published today by Russia's Federal Agency for Fishery (or Rosrybolovstvo) that it has filed a claim against Nornickel's wholly-owned subsidiary NTEK to the Arbitration Court of the Krasnoyarsk region for a total amount of RUB 58.7bn (approximately USD804 million at the spot RUB/USD exchange rate) for the reimbursement of the damages to fish resources caused by the diesel spill incident at an emergency fuel storage facility of Heat and Power Plant #3 in Norilsk in 2020.
Nornickel will be able to comment on the substance of the claim once it has been received and studied.
Based on publicly disclosed details, the Company believes that the damage amount claimed by the Agency is significantly overstated as it exceeds by many times the estimates prepared by specialized scientific research institutes, which have assessed the impact of this incident on aquatic bioresources.
The Company would like to remind that NTEK has already settled in full the claim filed by the Federal Agency for Environmental Supervision (Rozprirodnadzor), which covered the reimbursement of damages to water and soil. The Group has also compensated in kind damages to the wildlife, which has been impacted by the spill of diesel fuel.
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.
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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