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Norilsk Nickel operates on the new strategy

10 September 2014
Norilsk Nickel operates on the new strategy

Acting in the framework of the new strategy, the Corporation Norilsk Nickel currently produces the implementation of a comprehensive project aimed at closing in the Norilsk district of the Krasnoyarsk territory’s Nickel production. The refining production will be moved to the Kola Peninsula, and then work on it to resume on new technologies. That to the Kola mining and metallurgical complex in the framework of the project on modernization of production sites construction work is carried out aimed at transforming the Kola Peninsula in the primary refining area «Norilsk Nickel». According to Bogdan Kugele, head of the production Department of the Corporation «Norilsk Nickel», today the construction works are in full swing in almost all sectors, affecting the bulk of the processing.

In addition, Norilsk Nickel is implementing the project, held at the Monchegorsk site. Its main goal is to build capacity in order to manufacture cobalt metal, it is highly sought-after product on international markets. The estimated investment in this project to date has no analogues in Russia, account for more than 2 billion RUB. Produce improvements at Kola MMC is able to raise to a higher level not only metallurgy in the Murmansk region, but also to raise the level of the construction industry in the region.

However, today, «Norilsk Nickel» not all is well — according to data provided by metalloinvest, its share in the authorized capital of the Corporation was reduced. In the first half of the year, the percentage of 5% fell to 4.2%, and the amount received from the sale amounted to 251 million USD. In July 2014, metalloinvest declined from 0.7% values, which amounted to 239 million USD. The Corporation in the first half of 2014 to 2.7 times was able to increase its net profit, the cash equivalent amounted to 1.46 billion USD. The income of Norilsk Nickel for the period repeats the results of the same period of last year, given the decline of quotations of platinum and copper on handicap of the rising cost of palladium and Nickel. Despite the fact that analysts expected net profit in the amount of USD 1.28 billion, the result of a negative impact a significant write-off. The company’s specialists are sure in short supply of Nickel and palladium on the world market in 2015.

9 September 2014
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