MMC Norilsk Nickel (MNOD)
Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")
NORNICKEL NOT TO APPEAL THE COURT'S RULING REGARDING DIESEL SPILL INCIDENT
Moscow, February 19, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, following receipt of the judgment dated 12 February 2021 issued by the Arbitrazh Court of the Krasnoyarsk region in relation to the diesel fuel spill incident on 29 May 2020 at Heat and Power Plant № 3 (HPP-3) in the Kayerkan neighborhood of the city of Norilsk, announces that after careful consideration of the full text of the judgment and having assessed prospects of its appeal, it has been decided to comply with the judgment.
Gareth Penny, Chairman of Nornickel's Board of Directors, commented: "Following a thorough review of the court judgment and based on the advice of internal and external counsel, the Company has decided not to pursue an appeal in this matter. We welcome this decision as this will enable Nornickel to move on and concentrate its efforts on the execution of its ambitious sustainable development strategy, which was presented to the investment community last December. On behalf of the Board, I can confirm that the management has our full support in these efforts and that we appreciate the commitment of all to achieve these goals."
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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