Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MINING AND METALLURGICAL COMPANY NORILSK NICKEL

(MNOD)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Public Joint Stock Mining and Metallurgical Norilsk Nickel : Nornickel's Palladium Fund issues carbon-neutral nickel ETC on the Wiener Börse

09/06/2021 | 05:12am EDT

Moscow, September 6, 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 Global Palladium Fund (GPF) has issued the world's only physically backed carbon-neutral nickel Exchange Traded Commodity (ETC).

Targeting institutional investors, the new ETC has a low investment cost, its total expense ratio stands at 0.75%. The minimum investment is $100,000 and daily valuations are available on Wiener Börse (the Vienna Stock Exchange). Prior to the issue on the exchange, the carbon-neutral metal was tokenized on Atomyze, a Blockchain platform.

The carbon credits embedded into the carbon neutral nickel ETC represent the carbon saving generated by Nornickel in 2019 - 2020. International auditor EY verified the volume of Nornickel's emissions and Sphera GmbH, a leading European environmental and sustainability consultant, confirmed the methodology behind emission calculations.

Nornickel and Sphera have been working together since 2013 to record the CompanyPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel'Go to the glossary's CO2 emissions. The recorded data show Nornickel's long-term commitment and strategy to cut greenhouse gas (CO2) emissions at all stages of the production chain, from underground ore mining to processing and refining.

The carbon savings were made possible thanks to upgrades to the hydro power plant which feeds Nornickel's production facilities in the Norilsk Industrial District and the upgrade and repair of power equipment, rollout of the automated control and metering system, reduction of heat losses in buildings and pipelines, and decommissioning of obsolete power units.

Anton Berlin, Nornickel Vice President, Sales and Distribution commented: 'Carbon neutral nickel ETC is another important development for Nornickel and testament to our commitment to the global climate change agenda. Today's announcement furthers our ambition to be the leading producer of green metals, highlighting the attractiveness of our portfolio of low-carbon commodities which provide a transparent and fully-audited source of sustainable metals.'

Alexander Stoyanov, Chief Executive Officer of GPF said: 'This is yet another tangible benchmark achieved and thanks to Nornickel's commitment to emissions reduction we can bring the world's first carbon-neutral nickel ETC to market. Investors can take advantage of low-cost access to nickel which plays a fundamental role in the transition to clean energy in the knowledge it has been mined and produced responsibly.'

The carbon-neutral nickel ETC is an addition to GPF's portfolio of six physically-backed, low-cost metal ETCs, which include gold, silver, platinum, palladium, nickel and copper, and are now listed on Xetra. The ETCs are also available on LSE, Xtra, SIX and Borsa Italiana.

ABOUT THE GLOBAL PALLADIUM FUND
The Global Palladium Fund L.P. was established by Nornickel in 2016 to support it as the leading player in the global palladium industry. The fund's goal is to provide an international financial platform for cooperation with major holders of existing stockpiles of palladium and other metals, promote industrial and investment demand for the metal, and reduce overall palladium market volatility. Discover more about the fund here.

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.

6 September 2021

Disclaimer

OJSC MMC Norilsk Nickel published this content on 06 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 September 2021 09:11:05 UTC.


© Publicnow 2021
All news about MINING AND METALLURGICAL COMPANY NORILSK NICKEL
10/21VALE S A : Shanghai nickel leaps to record high on supply worries
RE
10/21EMEA MORNING BRIEFING : Stocks to Struggle as Evergrande Worries Resurface
DJ
10/21VALE S A : Shanghai nickel hits record high on supply concern
RE
10/20Gold nudges higher as weaker dollar lends support
RE
10/20MINING AND METALLURGICAL NORILSK NIC : Nornickel Reports Q3 Nickel, Copper Output Growth; ..
MT
10/20PUBLIC JOINT STOCK MINING AND METALL : Nornickel announces production results for 9M 2021 ..
PU
10/20Nornickel announces consolidated production -2-
DJ
10/20Nornickel announces consolidated production results for 9 months of 2021
DJ
10/20Nickel Reports Consolidated Production Results for the Third Quarter and Nine Months of..
CI
10/20Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel Provides Pro..
CI
More news
Analyst Recommendations on MINING AND METALLURGICAL COMPANY NORILSK NICKEL
More recommendations
Financials (USD)
Sales 2021 17 611 M - -
Net income 2021 7 398 M - -
Net Debt 2021 7 395 M - -
P/E ratio 2021 6,80x
Yield 2021 10,9%
Capitalization 49 910 M 49 910 M -
EV / Sales 2021 3,25x
EV / Sales 2022 3,17x
Nbr of Employees -
Free-Float 39,3%
Chart MINING AND METALLURGICAL COMPANY NORILSK NICKEL
Duration : Period :
Mining and Metallurgical Company Norilsk Nickel Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MINING AND METALLURGICAL COMPANY NORILSK NICKEL
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 32,65 $
Average target price 36,41 $
Spread / Average Target 11,5%
EPS Revisions
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
Sector and Competitors