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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 | 10:50am EDT

Moscow, 29 September, 2020 - 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 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
MMCMining and Metallurgical CompanyPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel'Go to the glossaryGo 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.

29 September 2020

Disclaimer

OJSC MMC Norilsk Nickel published this content on 29 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2020 14:49:04 UTC


© Publicnow 2020
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Financials (USD)
Sales 2021 17 451 M - -
Net income 2021 7 412 M - -
Net Debt 2021 7 187 M - -
P/E ratio 2021 7,19x
Yield 2021 10,1%
Capitalization 53 582 M 53 582 M -
EV / Sales 2021 3,48x
EV / Sales 2022 3,40x
Nbr of Employees -
Free-Float 38,0%
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Mining and Metallurgical Company Norilsk Nickel Technical Analysis Chart | MNOD | US55315J1025 | MarketScreener
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 33,86 $
Average target price 37,51 $
Spread / Average Target 10,8%
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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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