26 Aug 2016 07:30
MMC Norilsk Nickel / Miscellaneous - High PriorityMMC Norilsk Nickel: MAJOR MILESTONE IN DOWNSTREAM RECONFIGURATION REACHED:NICKEL PLANT IN NORILSK IS SHUT DOWN AHEAD OF SCHEDULE 26-Aug-2016 / 08:30 CET/CESTDissemination of a Regulatory Announcement, transmitted by EquityStory.RS,LLC - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- MAJOR MILESTONE IN DOWNSTREAM RECONFIGURATION REACHED: NICKEL PLANT INNORILSK IS SHUT DOWN AHEAD OF SCHEDULE Moscow, August 26, 2016 - PJSC MMC Norilsk Nickel (hereinafter referred toas Nornickel or the Company) announced today, that another major milestoneof the strategic downstream reconfiguration has been reached whereby theoutdated Nickel plant in the city of Norilsk was fully decommissioned twomonths ahead of the schedule. On August 17, production the nickel-refiningworkshop was idled, followed by cobalt chlorine-leaching workshop - onAugust 24. The decommissioning of the plant, which was launched in 1942,has been phased out since February 1, 2016. On June 10, the Company shutdown the agglomeration facilities of Nickel plant and on June 27 - smeltingand roasting shops. All necessary social guarantees have been provided tothe employees of the plant, the majority of which are relocated to otherfacilities of the Group. The Company confirms that the total refined metalproduction capacity will be unaffected by the idling of Nickel Plant asproduction facilities at Kola MMC and NN Harjavalta are modernized andexpanded correspondingly. Discussions have taken place with the London Metal Exchange (LME) about thecessation of production of exchange listed brands of nickel and cobalt ofthe Polar division, and the delisting of the relevant brands from theexchange will be deferred in order to protect the interest of marketparticipants. Similar talks with the Shanghai Futures Exchange (SHFE) havebeen scheduled in September 2016. In 2013, the Company adopted a new corporate strategy focusing on thedevelopment of Tier-1 assets and raising production efficiency. Theshutdown of Nickel Plant was one of the key milestones of a large-scaledownstream reconfiguration program, which had put a strong emphasis onimproving the Company's environmental footprint. The achievement of thismilestone combined with the upgrade and expansion of capacity of Talnakhconcentrator should result in a significant improvement of theenvironmental situation in Norilsk industrial area already this year. TheCompany is expecting that from next year onwards sulfur dioxide emissionswill be reduced by a total of 15 % in the Polar Division, and by 30 % -within the city boundaries of Norilsk. The idling of Nickel plant projectwas completed in line with the joint agreement signed in 2014 between theCompany, the Ministry for Economic Development, the Ministry for Industryand Trade, the Ministry of Natural Resources and Environment, thegovernment of Krasnoayrsk Region and Norilsk city administration. Theproject completion launches a new track record successful public-privatepartnerships in Russia facilitating environmental improvements and assetmodernisation. ABOUT THE COMPANY Nornickel is a diversified mining and metallurgical company, the world'slargest producer of refined nickel and palladium and a leading producer ofplatinum, cobalt, copper and rhodium. The company also produces gold,silver, iridium, selenium, ruthenium and tellurium. The production units ofNornickel include Polar Division, located at the Norilsk IndustrialDistrict on Taimyr Peninsula, and Kola Mining and Metallurgical Companylocated on the Kola Peninsula in Russia as well as Harjavalta nickelrefinery in Finland. Nornickel shares are listed on the Moscow and on theSaint-Petersburg Stock Exchanges. Nornickel ADRs trade over the counter inthe US and on the London and Berlin Stock Exchanges. Media Relations: Investor Relations:Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20Email: pr@nornik.ru Email: ir@nornik.ru --------------------------------------------------------------------------- The EquityStory.RS, LLC Distribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.Archive at www.dgap.de/ukreg --------------------------------------------------------------------------- Language: English Company: MMC Norilsk Nickel 1 st Krasnogvardeysky av., 15 123100 Moscow Russia Internet: www.nornik.ru ISIN: US55315J1025 WKN: A140M9 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt ; London, Nasdaq Category Code: MSCH TIDM: MNOD Sequence Number: 3353 Time of Receipt: 26-Aug-2016 / 08:30 CET/CEST End of Announcement EquityStory.RS, LLC News Service --------------------------------------------------------------------------- 496127 26-Aug-2016UK-Regulatory-announcement transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.