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MINING AND METALLURGICAL COMPANY NORILSK NICKEL

(MNOD)
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Public Joint Stock Mining and Metallurgical Norilsk Nickel : NORNICKEL HAS RECOVERED ORE MINING AT THE OKTYABRSKY MINE TO FULL CAPACITY

05/13/2021 | 07:02am EDT

MMC Norilsk Nickel (MNOD)
NORNICKEL HAS RECOVERED ORE MINING AT THE OKTYABRSKY MINE TO FULL CAPACITY

13-May-2021 / 14:00 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 RECOVERED ORE MINING AT THE OKTYABRSKY MINE TO FULL CAPACITY

Moscow, May 13, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that is has recovered ore mining at the Oktyabrsky underground mine back to its full capacity.

The Oktyabrsky mine has recovered its daily mined volume to its full capacity of 14.1 kt.

The Taimyrsky underground mine, which has also been temporarily suspended due to the flooding, is on track to resume operations. Completion of water pumping and production restart are scheduled for early June.

"Water pumping from the horizons of the Oktyabrsky mine has been completed. Ore extraction and operation of its two shafts has been restored and the mine is now operating at its design capacity. Pumping out of water from the Taimyrsky mine as well as fixing mine workings back to a safe condition are progressing on track with the earlier announced recovery schedule. By June 1st, we are planning to gradually restart ore mining operations at Taimyrsky," said Nikolay Utkin, Senior Vice President and Head of the Norilsk Division.

 

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.: 104983
EQS News ID: 1196390

 
End of Announcement EQS News Service

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Sales 2021 16 699 M - -
Net income 2021 7 416 M - -
Net Debt 2021 7 490 M - -
P/E ratio 2021 7,35x
Yield 2021 9,45%
Capitalization 54 484 M 54 484 M -
EV / Sales 2021 3,71x
EV / Sales 2022 3,56x
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Number of Analysts 17
Last Close Price 34,43 $
Average target price 37,08 $
Spread / Average Target 7,70%
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Managers and Directors
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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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