NORNICKEL INCREASES INVESTMENTS IN INDUSTRIAL SAFETY

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NORNICKEL INCREASES INVESTMENTS IN INDUSTRIAL SAFETY

Postby Matthew » Wed Oct 14, 2020 9:31 am

Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces its plans to increase investments in the modernization of the fuel and energy complex in 2020-2024 by over 100 billion roubles (approximately USD 1.3 billion as of current exchange rate).

These plans envisage an expansion of a large-scale investment program in energy infrastructure on the Taimyr Peninsula that has been launched to provide energy resources to new growth projects. The expansion is specifically focused on the industrial safety of all facilities including those built on permafrost.

The enhanced investment program includes the replacement of equipment at heat and hydropower stations, upgrade of the power grid and gas pipeline systems, and modernization of fuel tank storages.

First Vice president, Chief Operating Officer, Sergey Dyachenko commented,

“The priority of our corporate strategy is sustainable production growth that is impossible to execute without the development of infrastructure. For this very reason, Nornickel is aligning its investments in the modernization of the fuel and energy complex with the development of mining and metallurgical assets. A special focus of these investments is the monitoring of the permafrost conditions. We plan to introduce systematic monitoring of permafrost areas to see how they are affected by climatic fluctuations in Taimyr in order to ensure top-level safety of our energy infrastructure that is critical to our production assets and to residents of the Norilsk industrial district”. Read more at https://www.finanzen100.de/aktien/mmc-norilsk-nickel-sp-adrs-wkn-a140m9_H683674508_870690/
Matthew
 
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