MNOD.L Regulatory News (MNOD)

PRESS RELEASE

2 July 2020

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

ANDREY BOUGROV TO BECOME NORNICKEL'S SENIOR VICE PRESIDENT FOR ENVIRONMENTAL PROTECTION

Moscow, July 2, 2020 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that in the wake of the recent fuel spill accident, Nornickel's Board of Directors held on 30 June another meeting to review and discuss the situation in Norilsk. As part of the meeting, the Company's management reported on the clean-up progress and presented a long-term programme to monitor the condition of permafrost and remedy the environmental damage. 

The Board of Directors had held its first meeting to review the accident at HPP-3 in Norilsk on 10 June 2020. The second meeting of the Board took place on 30 June 2020, with the Company's management reporting on the clean-up progress. A total of over 33 kt of water and fuel mixture has been collected in the area, with over 172 kt of contaminated soil removed. According to the management's estimates, over 90% of spilt fuel have been collected and removed to date.

At the meeting, the management team presented a long-term recovery and restoration programme along with proposed initiatives for regular monitoring of production facilities for wear and tear and for permafrost conditions. Valuable contributions and proposals were  also received from board members. 

"Sustainable development and environmental protection in the regions where the Company operates are among our key priorities. Our environmental programme has entered an enhanced phase, and there is a considerable amount of work ahead. For several years, Nornickel has been working on reducing its environmental impact. Today we face greater challenges relevant for everyone around the globe - climate change and its impact on the Arctic region and our operations. To address these, we have set up an independent Environmental Task Team of the Board of Directors. This will be utilising the services of independent specialist firms and other resources to assist in investigating current issues and monitoring progress to ensure world class delivery of our environmental programmes", said the Chairman of Nornickel's Board of Directors, Gareth Penny.

The management team included Andrey Bougrov as Nornickel's senior vice president, who will oversee the Company's sustainable development efforts. Mr. Bougrov has been with the Company since 2013. He has considerable experience in dealing with ESG matters and is well positioned to coordinate activities across the various stakeholder groups. In addition, the post of deputy director for ecology will be introduced in the Polar Division of Nornickel.

Commenting on his appointment, Andrey Bougrov said that Nornickel plans to step up its cooperation with Russian and foreign researchers and specialist organisations focused on Arctic ecology and permafrost zones to jointly study permafrost environments and find solutions to improve industrial safety in the Arctic region. "Our joint efforts based on transparency will provide us with the most advanced solutions, while also contributing to the protection of the Arctic nature," said Andrey Bougrov.

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.

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

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