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MINING AND METALLURGICAL COMPANY NORILSK NICKEL

(MNOD)
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Mining and Metallurgical Norilsk Nickel : Nornickel resumed mining at Taimyrsky

06/04/2021 | 09:19am EDT

Moscow, June 4, 2021 - NornickelPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel' and its subsidiariesGo to the glossary, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that on June 1 the company began to gradually restart ore mining at the Taimyrsky underground mine and plans to advance mine's operations to full capacity in the near future.

Currently, the mine has reached a daily mined volume of 5 kt, which is about 40% of the design capacity.

'Water from the horizons of the Taimyrsky mine has been pumped out. Today, our main goal is to reinforce the underground workings to ensure the safety of our employees. We will be gradually scaling up mining as we take these measures. The mine is expected to reach its design capacity of 12,1 kt per day by the end of June 2021,' said Nikolay Utkin, Senior Vice President of Norilsk Nickel and Head of the Norilsk Division.

As previously announced, the final stage of recovery operations at the Taimyrsky mine (4.3 mtpa of ore) is expected to be fully completed by the end of June.

This announcement contains inside information in accordance with Article 7 of EU Regulation 596/2014 of 16 April 2014.

Full name and position of person making the announcement - Vladimir Zhukov, Vice - president, Investor Relations.

ABOUT THE COMPANY
MMCMining and Metallurgical CompanyGo to the glossaryNorilsk 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 GroupPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel' and its subsidiariesGo to the glossaryare 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, ADRAmerican Depositary Receipt; a security representing partial ownership in deposited securities of a foreign company certified by receipts issued by a US depositary bankGo to the glossarys are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.

4 June 2021

Disclaimer

OJSC MMC Norilsk Nickel published this content on 04 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2021 13:18:07 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 17 460 M - -
Net income 2021 7 397 M - -
Net Debt 2021 7 361 M - -
P/E ratio 2021 7,36x
Yield 2021 9,90%
Capitalization 54 690 M 54 690 M -
EV / Sales 2021 3,55x
EV / Sales 2022 3,47x
Nbr of Employees -
Free-Float 38,0%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 34,56 $
Average target price 37,45 $
Spread / Average Target 8,35%
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Managers and Directors
Vladimir Olegovich Potanin President & Chairman-Management Board
Sergey Gennadyevich Malyshev Chief Financial Officer & Senior Vice President
Gareth Peter Herbert Penny Independent Non-Executive Chairman
Sergey Stanislavovich Stepanov Operational Director & Senior Vice President
Sergey Borisovich Bratukhin Independent Director
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