Nornickel 2021 Annual Capital Markets Day: Leading the Transition to a Net Zero World

PJSC MMC Norilsk Nickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, led by Vladimir Potanin, hosted its annual Capital Markets Day.

The Company's environmental program has reached a number of new milestones in Kola division, whereas the delivery on the Sulphur Programme 2.0 in Norilsk division is on track. Nornickel has been successful at ramping up capex this year, which is expected to increase by more than 50% from 2020.

Nornickel's metals basket is absolutely critical to support the global transition to a net zero world, and its core growth projects are on track and long-term production volume targets have been raised. The management's strategic goal is to navigate Nornickel to the premier league of the future green economy and become a leader in sustainability. This translates into compliance with the national technical and legal requirements, and adherence to the industry's highest ESG standards.

Expansion of capital investments with a clear focus on ESG

Nornickel has updated its long-term CAPEX program through the year 2021-2030, raising it by USD 6bn to USD 35bn, of which about USD 6bn will be allocated to environmental projects. Another major revision is the USD 8bn investment into energy infrastructure modernization of renewable energy assets, high-voltage transmission lines, and investments in additional projects in production and transportation of natural gas. Another USD 2bn will go towards the maintenance and upgrade of existing assets, capital repairs and new equipment.

Nornickel has raised its long-term strategic ambitions for 2030+ of metals production, aiming for 25-35% growth in nickel volumes, 50-60% in PGMs and 25-35% in copper. The Company also targets to gain a substantial market share in the fast-growing battery segment through supply agreements and deeper integration into the European battery value chain, including research and partnerships.

Vladimir Potanin, Nornickel's President, commented: "We have started to roll-out a permafrost monitoring system in Norilsk and have committed to a major renovation of our energy infrastructure. In addition to a better management of climate change related risks, we anticipate to get significant carbon dioxide emission cuts as the efficiency of our power generating equipment should improve.

"On the social front, we have committed to a number of programs, which aim to transform the city of Norilsk into a modern city with high living standards. Over business cycles, our metals basket has shown its natural resilience to changes in underlying demand for commodities. Our course forward is towards integration into the new green economy. Higher focus on the global climate agenda drives up the demand for our key metals and reconfirms our strategy to grow production. I believe that transformational investments will result in higher value for Nornickel and its shareholders, combining industry-leading profitability and top-notch ESG standards."

Source: https://www.newswire.com/news/nornickel-2021-annual-capital-markets-day-leading-the-transition-to-a-21566068

Tags:

Capital Markets Day, ESG, Nornickel, Vladimir Potanin, platinum Cheap Press Release Distribution Services, Free Press Release Distribution, Free Press Release Distribution Website, Free Press Release, Free Press Release Distribution Services