19 Jun 2020 02:00
MMC Norilsk Nickel (MNOD) NORNICKEL DISPOSES OF HONEYMOON WELL NICKEL PROJECT IN AUSTRALIA 19-Jun-2020 / 04:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. PRESS RELEASE 19 June 2020 Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company") NORNICKEL DISPOSES OF HONEYMOON WELL NICKEL PROJECT IN AUSTRALIA Moscow, June 19, 2020 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that through its Australian subsidiary, MPI Nickel Pty Ltd, it has entered into a definitive agreement with BHP Billiton Nickel West Pty Ltd ("BHP" or "the Buyer"), a wholly owned subsidiary of BHP Group Limited, to sell its Honeymoon Well Nickel Project ("the Project") for an undisclosed amount. The Project located in Western Australia encompasses Honeymoon Well, a greenfield nickel development, as well as Albion Downs North and Jericho Joint Ventures, both exploration projects where BHP currently owns the remaining 50% stake. The Project is the only Australian asset remaining in the Company's portfolio. BHP has an in-depth knowledge of the Project, which is expected to streamline the closing of the transaction. "With the sale of Honeymoon Well Nickel Project we complete the strategic exit from Australian operations and reinforce our focus on the development of our Tier-1 asset portfolio in Russia. We are grateful to BHP as our JV partner in Australia and appreciate their commitment to prompt execution of the transaction", Sergey Dubovitsky, Nornickel's Senior Vice President for Strategy, Strategic Projects, Logistics and Procurement commented. The transaction is subject to regulatory approvals and other customary closing conditions. Citigroup has acted as a financial advisor to Nornickel.
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 |
| Sequence No.: | 70739 |
| EQS News ID: | 1073959 |
| 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.