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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel    MNOD

PUBLIC JOINT STOCK COMPANY MINING AND METALLURGICAL COMPANY NORILSK NICKEL

(MNOD)
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Public Joint Stock Mining and Metallurgical Norilsk Nickel : NORNICKEL INCREASES INVESTMENTS IN INDUSTRIAL SAFETY

09/29/2020 | 10:45am EST

MMC Norilsk Nickel (MNOD)
NORNICKEL INCREASES INVESTMENTS IN INDUSTRIAL SAFETY

29-Sep-2020 / 17:45 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")

NORNICKEL INCREASES INVESTMENTS IN INDUSTRIAL SAFETY

Moscow, 29 September, 2020 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces its plans to increase investments in modernization of the fuel and energy complex in 2020-2024 by over 100 billion roubles (approximately USD 1.3 billion as of current exchange rate).

These plans envisage an expansion of a large-scale investment program in energy infrastructure on Taimyr Peninsula that has been launched to provide energy resources to new growth projects. The expansion is specifically focused on industrial safety of all facilities including those built on permafrost.

The enhanced investment programme includes replacement of equipment at heat and hydro power stations, upgrade of power grid and gas pipeline systems and modernization of fuel tank storages.

First Vice president, Chief Operating Officer, Sergey Dyachenko commented,

"The priority of our corporate strategy is sustainable production growth that is impossible to execute without development of infrastructure. For this very reason, Nornickel is aligning its investments in modernization of the fuel and energy complex with the development of mining and metallurgical assets. A special focus of these investments is the monitoring of the permafrost conditions. We plan to introduce a systematic monitoring of permafrost areas to see how they are affected by climatic fluctuations in Taimyr in order to ensure top level safety of our energy infrastructure that is critical to our production assets and to residents of Norilsk industrial district".

 

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.             

Media Relations:     Investor Relations:

Phone: +7 (495) 785 58 00    Phone: +7 (495) 786 83 20

Email: pr@nornik.ru     Email: ir@nornik.ru

 



ISIN: US55315J1025
Category Code: MSCL
TIDM: MNOD
LEI Code: 253400JPTEEW143W3E47
Sequence No.: 85108
EQS News ID: 1137723

 
End of Announcement EQS News Service

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© EQS 2020
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Financials (USD)
Sales 2020 14 941 M - -
Net income 2020 4 287 M - -
Net Debt 2020 5 999 M - -
P/E ratio 2020 11,0x
Yield 2020 9,45%
Capitalization 43 597 M 43 597 M -
EV / Sales 2020 3,32x
EV / Sales 2021 3,24x
Nbr of Employees -
Free-Float 37,6%
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Technical analysis trends PUBLIC JOINT STOCK COMPANY MINING AND METALLURGICAL COMPANY NORILSK NICKEL
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TrendsBullishNeutralNeutral
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 19
Average target price 32,21 $
Last Close Price 28,58 $
Spread / Highest target 43,5%
Spread / Average Target 12,7%
Spread / Lowest Target -23,0%
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Managers
NameTitle
Vladimir Olegovich Potanin President & Chairman-Management Board
Gareth Peter Herbert Penny Independent Non-Executive Chairman
Sergey Nikolaevich Dyachenko Chief Operating Officer & First Vice President
Sergey Gennadyevich Malyshev Chief Financial Officer & Senior Vice President
Sergei Leonidovich Batekhin Deputy Chairman