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Norilsk Nickel goes to three-year budget planning

30 July 2013
Norilsk Nickel goes to three-year budget planning

According to the statements of Vladimir Potanin, General

Director of JSC MMC «Norilsk Nickel», his company will go to

three-year budget planning. According to the head in the first place,

it is very convenient for the Corporation: for the duration of the basic

investment projects is one year, so it is crucial to take

the relatively clear prospect for a longer period. Two or three

year, according to experts of the structure, is just the most reasonable

term, planning for which can be quite real, while the temporary

the period for implementation of plans will be relatively long.

For GMK revision of the scheme of budgeting — not

the only novelty which the employees of the organization learned during

the past weeks. For example, recently it became known that in the near future

in «Norilsk Nickel» will be the reorganization of the management, during

which more powers will be transferred to the field. And this is from the words

the Corporation — which means that managers of subsidiaries

and structural units of enterprises will have more opportunities

independently implement activities aimed at optimization

the production process and increase productivity.

Vladimir Potanin also said that in mid-autumn

the current year, the Corporation must receive the upgraded Strategy

development until 2025. It all activities of MMC «Norilsk

Nickel» will be considered from the point of view of the new situation and methods of

management. Also in development Strategies will be mentioned priority

investment projects of the company, will be described in the updated dividend-personnel

policy. Mandatory — says CEO structure was one of

sections will be devoted to environmental programmes of the organization.

OAO GMK «Norilsk Nickel» — one of the world’s major

producers of Nickel, palladium, copper and platinum. In addition to these metals, in

the company’s range includes cobalt, gold, silver, rhodium, iridium,

ruthenium, selenium, and tellurium.

Production facilities of MMC «Norilsk Nickel»

located not only in Russia: the Corporation owns a number of enterprises in

Australia (among them — «Norilsk Nickel Cawse» (mining and leaching

lateritic Nickel ores), the «Black Swan», «Lake Johnston», «Waterloo» (production

Nickel), «Honeymoon Well» (production of sulphide Nickel ores)), the USA and South Africa. In addition

the ownership of GMK Norilsk Nickel is 85% of the shares of Botswana

«enterprise Tati Nickel Mining Company» engaged in the extraction of sulphide

Nickel and portfolio of assets, «Norilsk Nickel Harjavalta» — the only plant in

Finland, which produces refined Nickel.

30 July 2013
2 August 2013