31 Oct 2017 06:21
MMC Norilsk Nickel (MNOD) MMC Norilsk Nickel: NORNICKEL STARTS HOT COMMISSIONING AT BYSTRINSKY GOK 31-Oct-2017 / 08:21 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. PRESS RELEASE 31 October 2017 Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC «MMC «NORILSK NICKEL», «Nornickel», the «Company», the «Group»)
NORNICKEL STARTS HOT COMMISSIONING AT BYSTRINSKY GOK Chita - PJSC MMC Norilsk Nickel, the world's largest producer of palladium and refined nickel, has launched hot commissioning operations at Bystrinsky GOK (Bystrinsky mining and processing plant). Bystrinsky GOK is located in the Gazimuro-Zavodsky District of Trans-Baikal Territory, 350 km from Chita. This area is home to the large Bystrinsky gold-iron-copper deposit containing total ore reserves of some 343 mt that will ensure 30+ years of plant capacity utilisation. Bystrinsky GOK will focus on the production and enrichment of gold-iron-copper ores to produce copper, gold and magnetite concentrates. The construction of Bystrinsky GOK has become the largest greenfield project in the Russian metals and mining sector. Nornickel has been constructing the plant since 2013 having invested a total of RUB 90 bn in the project, with Sberbank acting as the financial partner and creditor. After reaching its annual design capacity of 10 mt of ore, Bystrinsky GOK will become Nornickel's third major production asset, along with the company's enterprises on the Taimyr and Kola Peninsulas. The hot commissioning will last for several months with full-scale operation expected to start by mid-2018 and design capacity to be reached by the end of 2019. "We are very proud that it took us just four years to build from scratch a plant of a calibre commensurate with projects completed during the industrialisation years. For us, this is not just another new asset, but also an opportunity to put into practice the most advanced technologies in production, social policy, environment and human capital management", commented Vladimir Potanin, President of Nornickel. "The capability of Russian business to successfully implement projects of such scale is clear evidence of stability of the Russian economy and its ability to create new production sites and develop national infrastructure. This project gives a strong boost to development of the Trans-Baikal Territory and the entire Russian industrial sector", said Denis Manturov, Minister of Industry and Trade of the Russian Federation, at the official Bystrinsky GOK ceremony.
ABOUT THE COMPANY PJSC «MMC «NORILSK NICKEL» is a diversified mining and metallurgical company, a world's largest producer of refined nickel and palladium and a leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, selenium, ruthenium and tellurium. The production units of «NORILSK NICKEL» Group include Polar Division, located at the Norilsk Industrial District on Taimyr Peninsula, and Kola Mining and Metallurgical Company located on the Kola Peninsula in Russia as well as Harjavalta nickel refinery in Finland. PJSC «MMC «NORILSK NICKEL» shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges. PJSC «MMC «NORILSK NICKEL» ADRs trade over the counter in the US and on the London and Berlin 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: | MSCH |
| TIDM: | MNOD |
| Sequence No.: | 4794 |
| End of Announcement | EQS News Service |
623869 31-Oct-2017
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.