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NORNICKEL'S 2019 SUSTAINABLE DEVELOPMENT REPORT: REDUCING EMISSIONS AND SETTING NEW GOALS

10 Apr 2020 09:00

MMC Norilsk Nickel (MNOD) NORNICKEL'S 2019 SUSTAINABLE DEVELOPMENT REPORT: REDUCING EMISSIONS AND SETTING NEW GOALS 10-Apr-2020 / 11:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

10 April 2020

Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company") the world's largest of palladium and high-grade nickel and a major producer of platinum and copper.

NORNICKEL'S 2019 SUSTAINABLE DEVELOPMENT REPORT: REDUCING EMISSIONS AND SETTING NEW GOALS

Moscow - PJSC MMC Norilsk Nickel PJSC, the world's largest refined nickel and palladium producer, has released its annual Sustainable Development (CD) report for 2019.

Vladimir Potanin, Nornickel's President, commented as follows:

"Our consistent delivery on Nornickel's strategy, alongside its unique mineral resource base, help us to adapt to changing market environment and stay on course, even amidst very turbulent times. The Company continues to be a leader among the global metal producers, while upholding the highest standards of sustainable development. Our environmental projects are wide-reaching, and the launch of the updated Sulphur Programme 2.0 allows for a staged rollout of the industry's best SO2 capturing practices. I am confident that the Company's management will continue to strive to secure our stability and efficiency, and to guarantee that we meet our commitments to our employees, shareholders and other stakeholders."

The Group's 2019 Sustainability Report is the sixteenth public, non-financial report to be published by Nornickel. It goes into detail on how the Company is contributing to the six UN 2030 Sustainable Development Goals that have been identified as the most relevant and prioritised.

In 2019, Nornickel reaffirmed its leadership in the mining and metals industry on health and safety performance. Work-related injury rates remained below average among its global mining peers, and below the Company's own average for the last five years while the lost time injury frequency rate (LTIFR) stood at 0.32 per million hours worked. Since 2014, Nornickel's industrial safety culture has been undergoing an independent third party assessment. Over the last six years, the assessment of our safety culture level has improved from 1.4 to 2.77 points on the Bradley Curve (out of the maximum of 4 according to Bradley Curve).

For the first time ever, the 2019 SD report includes the Climate Change Risk Assessment, which evaluates the impact of climate change on the Company's operations and assesses related risks and opportunities. Nornickel's metals are widely used globally in various technical solutions that mitigate the negative climate impact of key emission sources, while the Company itself takes pride in having one of the industry's lowest volumes of greenhouse gas emissions. Renewable energy's share of the Group's total power consumption amounted to 44.5% in 2019 (up 0.9 p.p. y-o-y).

In 2019, the Company recorded significant reduction of overall pollution. Pollutants in sewage water were reduced by 25%. The share of water recycled and reused stood at 87.2%.

The Company also updated its Sulphur Programme, a comprehensive environmental initiative designed to drastically reduce SO2 emissions from the Company's operations. The updated programme aims to reduce SO2 emissions on the Kola site by 85% by 2021, while the ambition for the Polar Division is to cut SO2 emissions by 90% by 2025, and further to 95% in the future. In order to achieve these ambitious targets, Nornickel decided to fully shut down smelting operations in the town of Nickel in Kola Peninsula, bringing down SO2 emissions in the cross-border area with Norway to zero.

The 2019 SD report discloses information on the status of Nornickel's tailing dumps. All hydraulic structures are subject to comprehensive, ongoing monitoring for industrial safety, the results of which are disclosed in detail. Earlier this year, the Company issued a special report at the request of the Church of England Pensions Board on the status of tailings and measures to control their condition.

Nornickel has also maintained its industry leading employee renumeration and benefits package. The Company's average salary has risen by 6.5% to above RUB 118,000 per month, remaining among the highest industry-wide in Russia.

In 2019, the Company reiterated its commitment to providing support for local communities. Our overall expenditures on charitable and social infrastructure development programmes amounted to RUB 18 bn. In 2019, "World of New Opportunities" charity programme was updated, aimed at supporting and promoting regional public initiatives. Since the launch of the programme in 2014, Nornickel has provided RUB 660 mln in funding to support 640 social projects. In 2020, Nornickel expects to finalise its vision for the town of Nickel, following the shutdown of smelting operations for environmental reasons.

The corporate governance of Nornickel has been also improved. In 2019, the number of independent directors stood at 7 out of 13, which exceeded the required minimum, and meant that for the first time in the Company's history, the majority of directors on the Board were independent. This ensures that the Board makes professional and unbiased decisions on its agenda items.

International experts and leading independent rating agencies have recognised the Company's efforts to improve its ESG performance. ISS raised Nornickel's Social rating to 2 points (on a-10 points scale, where 1 is a low risk), and affirmed the Company's Environmental and Corporate Governance ratings at 4. The inclusion of Nornickel's shares in the FTSE4Good Emerging Index was confirmed, with a score of 3.0 out of 5. Robeco SAM, a sustainable investment specialty firm, raised Nornickel's ESG to 37 points (up on 2018's 27), while the Company's score in Sustainalytics' ESG rating is 67 (out of 100). Furthermore, Nornickel was named Russia's Best Employer in 2019 by Forbes in their Global 2,000: The World's Best Employers list, ranking 36th among the top 2,000 employers globally.

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

 


ISIN:US55315J1025
Category Code:MSCH
TIDM:MNOD
Sequence No.:57786
EQS News ID:1020269
 
End of AnnouncementEQS 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.

Date   Source Headline
11th Apr 20175:20 pmEQSMMC Norilsk Nickel: PJSC MMC NORILSK NICKEL SUCCESSFULLY PLACES A USD 1 BILLION 6-YEAR EUROBOND OFFERING
6th Apr 20177:29 amEQSMMC Norilsk Nickel: PJSC 'MMC 'NORILSK NICKEL' TO HOLD AGM ON JUNE 9, 2017
4th Apr 20176:32 pmRNSStabilisation Notice - MMC Finance
4th Apr 20179:18 amRNSStabilisation Notice - MMC Finance
3rd Apr 20177:29 amEQSMMC Norilsk Nickel: Nornickel Announces the Sale of Business Center, Legion TI, for approximately USD 100 million
15th Mar 201710:45 amEQSMMC Norilsk Nickel: MMC NORILSK NICKEL REPORTS FULL YEAR 2016 AUDITED CONSOLIDATED IFRS FINANCIAL RESULTS
9th Mar 201712:00 pmEQSMMC Norilsk Nickel: MMC 'NORILSK NICKEL' REPORTS AUDITED CONSOLIDATED IFRS FINANCIAL RESULTS FOR FY2016 ON MARCH 15, 2017
31st Jan 20171:20 pmEQSMMC Norilsk Nickel: «NORILSK NICKEL» GROUP ANNOUNCES PRELIMINARY CONSOLIDATED PRODUCTION RESULTS FOR 4th QUARTER AND FULL 2016, AND PRODUCTION OUTLOOK FOR 2017
25th Jan 20175:30 amEQSMMC Norilsk Nickel: THE BOARD OF DIRECTORS OF NORNICKEL APPROVES THE SALE OF UP TO 39.32% STAKE IN BYSTRINSKIY PROJECT
23rd Jan 201712:33 pmEQSMMC Norilsk Nickel: Notification and public disclosure of transactions by persons discharging managerial responsibilities / persons closely associated with them
27th Dec 20161:35 pmEQSEQS-Regulatory: NORNICKEL TO BUY COPPER CONCENTRATE FROM ROSTEC
20th Dec 20165:28 amEQSEQS-Regulatory: NORILSK NICKEL'S SHAREHOLDERS APPROVED DIVIDENDS
19th Dec 20166:50 amEQSEQS-Regulatory: MMC Norilsk Nickel: NORNICKEL BOARD APPROVED 2017 BUDGET: DOWNSTREAM RECONFIGURATION AND THE LAUNCH OF BYSTRINSKY PROJECT
12th Dec 20162:20 pmEQSEQS-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL GROUP SIGNS A MAJOR LONG TERM CONTRACT WITH VDM METALS
30th Nov 20165:31 pmEQSEQS-Regulatory: NORNICKEL LAUNCHES LEGAL PROCEEDINGS AGAINST BCL
23rd Nov 20166:30 amEQSEQS-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL JOINS THE UNITED NATIONS GLOBAL COMPACT
11th Nov 20165:32 amEQSEQS-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL BOARD OF DIRECTORS RECOMMENDS INTERIM DIVIDEND FOR 9 MONTHS OF 2016
10th Nov 20166:45 amEQSEQS-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL SIGNED THE CONTRACT ON SULPHUR PROJECT WITH SNC-LAVALIN
8th Nov 201611:49 amEQSEQS-Regulatory: MMC Norilsk Nickel:PJSC «MMC «NORILSK NICKEL» BOARD OF DIRECTORS APPROVES SIGNING THE CONTRACT ON SULPHUR PROJECT WITH SNC-LAVALIN
3rd Nov 201612:00 pmEQSEQS-Regulatory: MMC Norilsk Nickel: NORNICKEL BOARD OF DIRECTORS TO CONSIDER THE DATE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS AND RECOMMENDATION ON INTERIM DIVIDEND FOR 9 MONTHS 2016
31st Oct 20168:22 amEQSEQS-Regulatory: MMC Norilsk Nickel: «NORILSK NICKEL» GROUP ANNOUNCES PRELIMINARY CONSOLIDATED PRODUCTION RESULTS FOR 3d QUARTER AND 9 MONTHS OF 2016
26th Oct 20165:18 pmEQSEQS-Regulatory: MMC Norilsk Nickel: Notification and public disclosure of transactions by persons discharging managerial responsibilities / persons closely associated with them
10th Oct 20164:58 pmEQSEQS-Regulatory: Notification and public disclosure of transactions by persons discharging managerial responsibilities / persons closely associated with them
10th Oct 20163:10 pmEQSEQS-Regulatory: PJSC 'MMC 'NORILSK NICKEL' PROVIDES AN UPDATE ON THE SALE OF AFRICAN ASSETS
3rd Oct 20161:42 pmEQSEQS-Regulatory: MMC Norilsk Nickel: PJSC 'MMC 'NORILSK NICKEL' SIGNED A 5-YEAR USD 500 MILLION CREDIT FACILITY WITH A SYNDICATE OF INTERNATIONAL BANKS
29th Aug 20169:16 amEQSEQS-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL REPORTS FIRST HALF 2016 INTERIM CONSOLIDATED IFRS FINANCIAL RESULTS
26th Aug 20167:30 amEQSEQS-Regulatory: MMC Norilsk Nickel: MAJOR MILESTONE IN DOWNSTREAM RECONFIGURATION REACHED: NICKEL PLANT IN NORILSK IS SHUT DOWN AHEAD OF SCHEDULE
23rd Aug 20169:00 amEQSEQS-Regulatory: NORNICKEL REPORTS INTERIM CONSOLIDATED IFRS FINANCIAL RESULTS FOR FIRST HALF 2016 ON AUGUST 29, 2016
29th Jul 201612:00 pmEQSDGAP-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL ANNOUNCES PRELIMINARY CONSOLIDATED PRODUCTION RESULTS FOR 2nd QUARTER AND 1st HALF 2016
21st Jul 20162:35 pmEQSDGAP-Regulatory: MMC Norilsk Nickel: NORNICKEL ANNOUNCES THE SALE OF STAKE IN THE BYSTRINSKY PROJECT
14th Jun 20167:36 amEQSDGAP-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL SHAREHOLDERS ELECTED NEW BOARD OF DIRECTORS
16th May 201610:34 amEQSDGAP-Regulatory: MMC Norilsk Nickel: hosts Annual Strategy Day - NEW PLATFORM TO DELIVER ON ASSETS MODERNIZATION
29th Apr 201612:45 pmEQSDGAP-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL ANNOUNCES 1Q 2016 CONSOLIDATED PRODUCTION RESULTS
28th Apr 20168:30 amEQSDGAP-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL BOARD OF DIRECTORS RECOMMENDS FY2015 DIVIDEND OF RUB 230 PER SHARE
22nd Apr 20169:03 amEQSDGAP-Regulatory: MMC Norilsk Nickel: MMC NORILSK NICKEL ANNOUNCES CHANGES IN MANAGEMENT TEAM
18th Apr 20164:35 pmEQSDGAP-Regulatory: MMC Norilsk Nickel: BOARD OF DIRECTORS OF NORILSK NICKEL APPROVES SALE OF QUASI-TREASURY SHARES TO CRISPIAN FOR USD 158 MILLION
4th Apr 20167:00 pmEQSDGAP-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL REVIEWS ITS MEDIUM-TERM FINANCIAL MODEL AND REAFFIRMS ITS COMMITMENT TO DELIVERING INDUSTRY-LEADING SHAREHOLDER RETURNS
4th Apr 201612:45 pmEQSDGAP-Regulatory: MMC Norilsk Nickel: MMC NORILSK NICKEL AND SBERBANK CIB AGREED ON PROJECT FINANCING FOR GRK BYSTRINSKOE IN THE AMOUNT OF UP TO USD 800 MILLION
15th Mar 20168:27 amEQSDGAP-Regulatory: MMC Norilsk Nickel: MMC NORILSK NICKEL REPORTS FULL YEAR 2015 AUDITED CONSOLIDATED IFRS FINANCIAL RESULTS
11th Mar 201611:43 amEQSDGAP-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL MOVED THE TIME OF CONFERENCE CALL FOR FY2015 FINANCIAL RESULTS
4th Mar 201611:04 amEQSDGAP-Regulatory: MMC Norilsk Nickel: MMC NORILSK NICKEL REPORTS AUDITED IFRS FINANCIAL RESULTS FOR FY2015 ON MARCH 15, 2016
29th Jan 201611:20 amEQSDGAP-Regulatory: MMC Norilsk Nickel: OPERATING RESULTS ARE IN LINE WITH STRATEGIC PRODUCTION GUIDANCE
12th Jan 20161:08 pmEQSDGAP-Regulatory: MMC Norilsk Nickel: NORILSK NICKEL SIGNED A RMB 4.8 BILLION SYNDICATED REVOLVING CREDIT FACILITY AGREEMENT
25th Apr 20132:52 pmRNSStabilisation Notice
24th Nov 20083:47 pmRNSSecond Price Monitoring Extn
24th Nov 20083:41 pmRNSPrice Monitoring Extension
13th Nov 20083:40 pmRNSPrice Monitoring Extension
12th Nov 20083:42 pmRNSPrice Monitoring Extension
11th Nov 20083:40 pmRNSPrice Monitoring Extension
6th Nov 20083:48 pmRNSSecond Price Monitoring Extn

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