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MINING AND METALLURGICAL COMPANY NORILSK NICKEL

(MNOD)
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Mining and Metallurgical Norilsk Nickel : NORNICKEL HAS RESUMED ORE MINING AT TAIMYRSKY MINE

06/04/2021 | 04:32am EDT

MMC Norilsk Nickel (MNOD)
NORNICKEL HAS RESUMED ORE MINING AT TAIMYRSKY MINE

04-Jun-2021 / 11:30 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

Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")
 

NORNICKEL HAS RESUMED ORE MINING AT TAIMYRSKY MINE

Moscow, June 4, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that on June 1 the company began to gradually restart ore mining at the Taimyrsky underground mine and plans to advance mine's operations to full capacity in the near future.

Currently, the mine has reached a daily mined volume of 5 kt, which is about 40% of the design capacity.

"Water from the horizons of the Taimyrsky mine has been pumped out. Today, our main goal is to reinforce the underground workings to ensure the safety of our employees. We will be gradually scaling up mining as we take these measures. The mine is expected to reach its design capacity of 12,1 kt per day by the end of June 2021," said Nikolay Utkin, Senior Vice President of Norilsk Nickel and Head of the Norilsk Division.

As previously announced, the final stage of recovery operations at the Taimyrsky mine (4.3 mtpa of ore) is expected to be fully completed by the end of June.

 

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

 



ISIN: US55315J1025
Category Code: MSCH
TIDM: MNOD
LEI Code: 253400JPTEEW143W3E47
Sequence No.: 109447
EQS News ID: 1204494

 
End of Announcement EQS News Service

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Sales 2021 17 422 M - -
Net income 2021 7 362 M - -
Net Debt 2021 7 338 M - -
P/E ratio 2021 7,39x
Yield 2021 9,87%
Capitalization 54 895 M 54 895 M -
EV / Sales 2021 3,57x
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Free-Float 38,0%
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Number of Analysts 17
Last Close Price 34,56 $
Average target price 37,45 $
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Vladimir Olegovich Potanin President & Chairman-Management Board
Sergey Gennadyevich Malyshev Chief Financial Officer & Senior Vice President
Gareth Peter Herbert Penny Independent Non-Executive Chairman
Sergey Stanislavovich Stepanov Operational Director & Senior Vice President
Sergey Borisovich Bratukhin Independent Director
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