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MINING AND METALLURGICAL COMPANY NORILSK NICKEL

(MNOD)
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Mining and Metallurgical Norilsk Nickel : Nornickel's Board adopts environmental strategy

06/01/2021 | 12:01pm EDT

Moscow, June 1, 2021 - NornickelPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel' and its subsidiariesGo to the glossary, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that its Board of Directors has adopted the company's holistic environmental strategy.

This comprehensive plan will be rolled out across all of Nornickel's operations starting from 2021. It was designed with a clear focus on generating measurable and achievable results to significantly improve the company's environmental performance. The strategy follows a detailed stakeholder engagement and benchmarking audit based on key environmental goals.

The new strategy encompasses the six major areas of environmental impact, namely climate change; air; water; tailings and waste; land; and biodiversity, coupled with stakeholder engagement and communications, all of which are at the centre of Nornickel's environmental activities.

In all, the strategy identifies 21 key targets in sustainability and industrial safety. These include reduction of SO2 emissions, complying with the Task Force on Climate-related Financial Disclosures (TCFD) principles and implementing the Global Tailings Standard principles.

The key initiatives to enable progress towards these targets include delivery of the Sulphur Programme; water recycling and reuse; land rehabilitation; asset monitoring; biodiversity impact assessment in all areas affected by the company's operations; investing in green technologies and decarbonisation activities.

Nornickel is also renewing its environmental governance structure to improve risk management processes and ensure effective implementation of the strategy. In line with this aim, the company is creating corporate level departments covering Sustainable Development, Ecology, Industrial Safety and Occupational Health, Human Resources and Social Policy, and ensuring that all Nornickel's employees are part of this transformative process.

Chairman of Nornickel Board of Directors Gareth Penny commented:

'The board applauds the company management's effort to carry out the most significant overhaul of Nornickel's environmental strategy in history. The holistic environmental strategy is a sign that Nornickel is strongly committed to the environment and fostering responsible business practices at every corporate level in a bid to become the world's leading metallurgical company. For me personally one of the highlights of the strategy is the ambitious decarbonisation programme, the important step towards green metals.'

For more information, please visit the ESG section of our website at https://www.nornickel.com/sustainability/esg-highlights/

ABOUT THE COMPANY
MMCMining and Metallurgical CompanyGo to the glossaryNorilsk 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 GroupPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel' and its subsidiariesGo to the glossaryare 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, ADRAmerican Depositary Receipt; a security representing partial ownership in deposited securities of a foreign company certified by receipts issued by a US depositary bankGo to the glossarys are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.

1 June 2021

Disclaimer

OJSC MMC Norilsk Nickel published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2021 16:00:01 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 17 460 M - -
Net income 2021 7 397 M - -
Net Debt 2021 7 361 M - -
P/E ratio 2021 7,35x
Yield 2021 9,91%
Capitalization 54 690 M 54 690 M -
EV / Sales 2021 3,55x
EV / Sales 2022 3,47x
Nbr of Employees -
Free-Float 38,0%
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Number of Analysts 17
Last Close Price 34,53 $
Average target price 37,45 $
Spread / Average Target 8,45%
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Managers and Directors
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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