MMC Norilsk Nickel / Miscellaneous - High Priority MMC Norilsk Nickel: NORNICKEL BOARD APPROVED 2017 BUDGET: DOWNSTREAM RECONFIGURATION AND THE LAUNCH OF BYSTRINSKY PROJECT 19-Dec-2016 / 08:50 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE NORNICKEL BOARD APPROVED 2017 BUDGET: DOWNSTREAM RECONFIGURATION AND THE LAUNCH OF BYSTRINSKY PROJECT Moscow, December 19, 2016 - The Board of Directors of PJSC «MMC «NORILSK NICKEL» (hereinafter Nornickel or the Company), the leading global nickel and palladium producer, approved the Company's budget for 2017. In 2016, the Company successfully completed all scheduled key investment projects including the development of high-IRR brownfield mining projects in the Polar division, the ramp-up of Skalisty mine, active construction phase of Bystrinsky project in Chita region, the shutdown of Nickel Plant, as well as projects related to the expansion of Talnakh concentrator capacity and Nadezhda smelter upgrade. The 2017 budget is based on conservative commodity price assumptions and envisages capital investments into active development of highly profitable brownfield upstream projects in the Polar Division, further upgrade of refining capacities at the Kola division as well as important HSE initiatives. The Company also plans to launch Bystrinsky project on time that is to boost Nornickel's copper and gold output in 2018-2020. The total capital expenditures for 2017 have been budgeted at USD 2 billion (including USD 450 million for Bystrinsky project). In accordance with the strategic priorities of the Company, all commercial projects should deliver industry-leading returns on investments. Nornickel's CFO, Sergey Malyshev, commented, 'The 2017 budget approved by the Board of Directors is well balanced and fully sufficient to fund our strategic investments even amidst volatile macro environment. In 2016, we have managed to control costs and deliver on our capital expenditures on time and on budget. The 2017 budget allows us to maintain our rational investment profile and further improve operating efficiency to generate high return on capital'. ABOUT THE COMPANY PJSC «MMC «NORILSK NICKEL» is a diversified mining and metallurgical company, the world's largest producer of refined nickel and palladium and a leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, selenium, ruthenium and tellurium. The production units of «NORILSK NICKEL» Group include Polar Division, located at the Norilsk Industrial District on Taimyr Peninsula, and Kola Mining and Metallurgical Company located on the Kola Peninsula in Russia as well as Harjavalta nickel refinery in Finland. PJSC «MMC «NORILSK NICKEL shares are listed on the Moscow and on the Saint- Petersburg Stock Exchanges. PJSC «MMC «NORILSK NICKEL» ADRs trade over the counter in the US and on the London and Berlin Stock Exchanges. Media Relations: Investor Relations: Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20 Email: pr@nornik.ru Email: ir@nornik.ru
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The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg
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Language: English Company: MMC Norilsk Nickel 1 st Krasnogvardeysky av., 15 123100 Moscow Russia Internet: www.nornik.ru ISIN: US55315J1025 WKN: A140M9 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt ; London, Nasdaq Category Code: MSCH TIDM: MNOD Sequence Number: 3702 Time of Receipt: 19-Dec-2016 / 08:50 CET/CEST End of Announcement EquityStory.RS, LLC News Service
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PRESS RELEASE NORNICKEL BOARD APPROVED 2017 BUDGET: DOWNSTREAM RECONFIGURATION AND THE LAUNCH OF BYSTRINSKY PROJECT Moscow, December 19, 2016 - The Board of Directors of PJSC «MMC «NORILSK NICKEL» (hereinafter Nornickel or the Company), the leading global nickel and palladium producer, approved the Company's budget for 2017. In 2016, the Company successfully completed all scheduled key investment projects including the development of high-IRR brownfield mining projects in the Polar division, the ramp-up of Skalisty mine, active construction phase of Bystrinsky project in Chita region, the shutdown of Nickel Plant, as well as projects related to the expansion of Talnakh concentrator capacity and Nadezhda smelter upgrade. The 2017 budget is based on conservative commodity price assumptions and envisages capital investments into active development of highly profitable brownfield upstream projects in the Polar Division, further upgrade of refining capacities at the Kola division as well as important HSE initiatives. The Company also plans to launch Bystrinsky project on time that is to boost Nornickel's copper and gold output in 2018-2020. The total capital expenditures for 2017 have been budgeted at USD 2 billion (including USD 450 million for Bystrinsky project). In accordance with the strategic priorities of the Company, all commercial projects should deliver industry-leading returns on investments. Nornickel's CFO, Sergey Malyshev, commented, 'The 2017 budget approved by the Board of Directors is well balanced and fully sufficient to fund our strategic investments even amidst volatile macro environment. In 2016, we have managed to control costs and deliver on our capital expenditures on time and on budget. The 2017 budget allows us to maintain our rational investment profile and further improve operating efficiency to generate high return on capital'. ABOUT THE COMPANY PJSC «MMC «NORILSK NICKEL» is a diversified mining and metallurgical company, the world's largest producer of refined nickel and palladium and a leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, selenium, ruthenium and tellurium. The production units of «NORILSK NICKEL» Group include Polar Division, located at the Norilsk Industrial District on Taimyr Peninsula, and Kola Mining and Metallurgical Company located on the Kola Peninsula in Russia as well as Harjavalta nickel refinery in Finland. PJSC «MMC «NORILSK NICKEL shares are listed on the Moscow and on the Saint- Petersburg Stock Exchanges. PJSC «MMC «NORILSK NICKEL» ADRs trade over the counter in the US and on the London and Berlin Stock Exchanges. Media Relations: Investor Relations: Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20 Email: pr@nornik.ru Email: ir@nornik.ru
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The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg
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Language: English Company: MMC Norilsk Nickel 1 st Krasnogvardeysky av., 15 123100 Moscow Russia Internet: www.nornik.ru ISIN: US55315J1025 WKN: A140M9 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt ; London, Nasdaq Category Code: MSCH TIDM: MNOD Sequence Number: 3702 Time of Receipt: 19-Dec-2016 / 08:50 CET/CEST End of Announcement EquityStory.RS, LLC News Service
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531053 19-Dec-2016
