29 Mar 2021 08:52
MMC Norilsk Nickel (MNOD) NORILSK DIVISION COMPLETS PHASE 2 OF REPAIRS AT OKTYABRSKY AND TAIMYRSKY MINES 29-March-2021 / 10:51 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
PRESS RELEASE March 29th, 2021 Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company") NORILSK DIVISION COMPLETS PHASE 2 OF REPAIRS AT OKTYABRSKY AND TAIMYRSKY MINES Moscow, March 29, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has stopped water inflow at the Oktyabrsky mine and confirms the resumption of production at the Oktyabrsky and Taimyrsky mines in accordance with the remediation plan. On March 25th, the second phase was completed: additional water barriers were installed, the adjacent workings were filled with backfill mix, and water was released. On March 27th, water flow was stopped by closing the valves after the stowing mix had solidified. More than 32 kt of concrete mixture was poured into the mine workings during the two stages.The third stage of the plan includes a set of measures to restore normal operations of the mines. Under the plan, Oktyabrsky mine (5.0 mtpa of ore production) will fully resume production in the first ten days of May and Taimyrsky mine (4.3 mtpa) is scheduled to resume production in early June. "The second phase of operations was completed on schedule as per the recovery work plan. Thanks to the professional performance of the miners, we have managed to stop the water inflow. We are already working on restoring the operations; this will be done in phases, in accordance with the approved work schedule," said Nikolay Utkin, Senior Vice President of Nornickel and Head of the Norilsk Division. "Along with the recovery operations, the company is also taking measures to eliminate the risk of water inflow in the future." The company estimates that the 2021 output guidance in the baseline scenario will fall short of the initially announced plans by about 35 kt of nickel, 65 kt of copper and 22 t of platinum group metals. 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 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. Media Relations: Investor Relations: Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20 Email: pr@nornik.ru Email: ir@nornik.ru
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| ISIN: | US55315J1025 |
| Category Code: | MSCH |
| TIDM: | MNOD |
| LEI Code: | 253400JPTEEW143W3E47 |
| Sequence No.: | 96447 |
| EQS News ID: | 1179188 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.