Russian metals producer Norilsk Nickel expects its capital expenditures to amount to $2.3-2.5 billion in 2019 and $2.3-2.6 billion a year in 2020-2022, the company said in a statement on November 19.
In 2018 the capital expenditures will amount to $1.6-1.7 billion.
Norilsk Nickel will spend $900 million – $1 billion on obligatory projects, including infrastructure and equipment upgrade, the same amount on commercial projects including Bystrinsky, $300 million on environment and $200 million on development projects.
The company expects its earnings before interest, taxes, depreciation and amortization (EBITDA) to rise by $300 million in 2018 from $3.995 billion in 2017.
“Norilsk Nickel is expecting over $300 million of additional EBITDA in 2018 thanks to the increase in production volumes and labor productivity,” the company said. (Prime/Ukrainian metal)