MINING AND METALLURGICAL COMPANY NORILSK NICKEL

(MNOD)
  Report
Delayed London Stock Exchange  -  03/03 02:00:01 am EST
1.890 USD    0.00%
05/27PUBLIC JOINT STOCK MINING AND METALLURGICAL NORILSK NICKEL : Taimyr fuel company sums up results of winter navigation
PU
05/27PUBLIC JOINT STOCK MINING AND METALLURGICAL NORILSK NICKEL : Nornickel starts recruiting employees for Sulphur programme
PU
05/24Factbox-Global banks pay price of Russia retreat
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Public Joint Stock Mining and Metallurgical Norilsk Nickel : Helsinki Shipyard contracts main equipment for new Nornickel icebreaker

01/19/2022 | 03:52am EDT

Moscow, January 19, 2022 - 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 the start of construction of an icebreaker designed to expand the company's transportation capacity. Finland's Helsinki Shipyard Oy signed the contracts for the supply of the main equipment for the icebreaker ordered by Nornickel, and the ship model, designed by Aker Arctic, a design bureau, successfully passed ice and open-water tests.

Rendered image showing the new icebreaker

Nornickel and Helsinki Shipyard are building an icebreaker that will comply with environmental safety standards. The icebreaker will navigate the Yenisei River basin, the Yenisei Bay and the Kara Sea, providing access to the Dudinka seaport for both Nornickel's corporate fleet and partner vessels. The icebreaker will be commissioned to lay a canal in the Yenisey for company-owned Arc7 ice-class vessels and to tow additional chartered Arc5 cargo vessels with a deadweight of up to 20,000 tonnes. The icebreaker's homeport will be Murmansk.

The concept design of the new icebreaker was developed in cooperation with Aker Arctic Technology Oy. The design work is now proceeding according to the schedule, including the ice model tests, which have already been successfully passed. Project procurement is also proceeding as planned and purchasing contracts for the main equipment for machinery and propulsion have already been signed. The construction work will begin in 2022 and the vessel is expected to be delivered to Nornickel for the winter season 2025.

"It is important for the CompanyPublic Joint Stock Company "Mining and Metallurgical Company "Norilsk Nickel"Go to the glossaryto have the new icebreaker completed by the end of 2024. This will enable us to expand the transportation capacity required for Nornickel's strategic investment projects as well as for the Norilsk renovation plans. We are pleased to announce that the vessel will be powered by LNG in line with the current environmental decarbonisation trends and will be the first LNG-powered icebreaker to guide vessels along the Northern Sea Route," said Nornickel Senior Vice President Strategy, Strategic Projects, Logistics & Procurement Sergey Dubovitsky.

The new icebreaker will have an integrated dual-fuel diesel-electric power unit, which can use both LNG and low-sulphur diesel oil. This means that it will have great energy efficiency and a low carbon footprint. The new vessel will qualify as Icebreaker8 under the Russian Maritime Register of Shipping and will be able to navigate in snowy ice up to 2.0 metres thick, either ahead or astern. It will be equipped with a helipad and will be able to carry cargo.

The new icebreaker will complement Nornickel's Arctic fleet, which consists of six Arc7-class reinforced ice-class vessels - five container ships and one reinforced ice-class tanker.

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.

19 January 2022

Disclaimer

OJSC MMC Norilsk Nickel published this content on 19 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2022 08:51:03 UTC.


© Publicnow 2022
All news about MINING AND METALLURGICAL COMPANY NORILSK NICKEL
05/27PUBLIC JOINT STOCK MINING AND METALL : Taimyr fuel company sums up results of winter navig..
PU
05/27PUBLIC JOINT STOCK MINING AND METALL : Nornickel starts recruiting employees for Sulphur p..
PU
05/24Factbox-Global banks pay price of Russia retreat
RE
05/24Copper prices retreat as China lockdowns fuel demand concerns
RE
05/24Copper slips from two-week high on dollar rebound, demand woes
RE
05/23London copper eases on dollar rebound, demand worries
RE
05/23PUBLIC JOINT STOCK MINING AND METALL : Polar Fund presents the results of the Taimyr exped..
PU
05/23PUBLIC JOINT STOCK MINING AND METALL : Nornickel presents metals market review
PU
05/19Factbox-Companies sell their businesses in Russia
RE
05/19TIMELINE-Rogue trader, euro zone crisis and war, Socgen's CEO ends 'bumpy' ride at top
RE
More news
Analyst Recommendations on MINING AND METALLURGICAL COMPANY NORILSK NICKEL
More recommendations
Financials (USD)
Sales 2022 18 140 M - -
Net income 2022 7 509 M - -
Net Debt 2022 8 030 M - -
P/E ratio 2022 -
Yield 2022 8,93%
Capitalization 45 626 M 45 626 M -
EV / Sales 2022 2,96x
EV / Sales 2023 3,23x
Nbr of Employees -
Free-Float 32,1%
Chart MINING AND METALLURGICAL COMPANY NORILSK NICKEL
Duration : Period :
Mining and Metallurgical Company Norilsk Nickel Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 298,48 $
Average target price 311,55 $
Spread / Average Target 4,38%
EPS Revisions
Managers and Directors
Vladimir Olegovich Potanin President & Chairman-Management Board
Sergey Gennadyevich Malyshev Chief Financial Officer & Senior Vice President
Sergey Stanislavovich Stepanov Operational Director & Senior Vice President
Sergey Borisovich Bratukhin Independent Director
Evgeny Arkadievich Shvarts Independent Director