MMC Norilsk Nickel : Board of Directors approves the Company's budget for 2013
Moscow, February 4, 2013 - Today the Board of Directors of MMC Norilsk Nickel
(hereinafter, MMC Norilsk Nickel or the Company), the largest global nickel
and palladium producer, approved the Company's draft budget for 2013 submitted
by the management.
The budget ensures stable metals production by national operations of the
Company in 2013. Nickel output by the Polar Division (PD) and Kola MMC is
expected at no less than 233 thousand tonnes in line with 2012 output.
Production of copper is expected to increase by about 2% to 359 thousand
tonnes in 2013. Platinum and palladium output is anticipated to slightly
reduce due to changes in ore composition and lower ore grades.
The Company is to sell 100% of the output. Revenue expectations are based upon
the market consensus of metal prices for 2013. The Company's net profit and
EBITDA are assumed to be in line with that of the world's leading metal
The Company's investment programme is expected to reach RUB 75.4 billion aimed
mostly at the implementation of the key investment projects in mining and
enrichment as well as modernization of production facilities.
The budget ensures social stability in the regions of operations and confirms
the Company's backbone position. The Company is expected to maintain existing
social programmes and to join efforts with federal and regional authorities on
the relocation of Norilsk residents and the development of city
The Company is going to further invest in initiatives aimed at the reduction
of harmful emissions and improvement of environment.
The budget envisages for the Company's mid-term and long-term robust balance
The Company will also continue the optimisation of operating costs and
improvement the efficiency of the investment projects.
For further information, please, contact:
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ABOUT MMC NORILSK NICKEL:
MMC Norilsk Nickel, a company incorporated under the laws of the Russian
Federation, is the largest diversified mining and metals company in Russia,
the world's largest producer of nickel and palladium and one of the world's
largest producers of platinum, rhodium, copper and cobalt. In addition to
this, MMC Norilsk Nickel produces a large number of other by-products,
including gold, silver, tellurium, selenium, iridium and ruthenium.
The key production units of the Company's group in Russia are at the Polar and
Kola Peninsulas. MMC Norilsk Nickel international assets include operations in
Finland, Australia, Botswana and South Africa.
MMC Norilsk Nickel's shares are traded on the Moscow Exchange. ADR's on the
Company's shares are traded on the other the counter market in the US and on
the London and Berlin stock exchanges.
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information contained therein.
Source: MMC Norilsk Nickel via Thomson Reuters ONE
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