MMC Norilsk Nickel revised CapEx guidance for the full year of 2014. Due to the roll-out of stringent investment governance discipline and a recent completion of the review of the downstream configuration, the company have scaled down its mandatory capital investment plans and, where possible, deferred some of the CAPEX until second half of 2014 and 2015. Having also factored in the improvement of payment terms with a number of key contractors in favor of Norilsk and depreciation of the Russian ruble against the USD, the company revised its annual CAPEX guidance down to $1.7 billion in 2104.