In 2023, Norilsk Nickel net profit plummeted by 51% YoY, to $2.87 billion. EBITDA dropped by 21%, to $6.9 billion. Revenue fell by 15%, to $14.4 billion. Capex decreased by 29%, to $3 billion due to the weakening of the Russian currency. (Ukrainian metal)
The Norilsk Nickel board of directors has decided to hold the annual shareholders meeting as absentee ballot. The meeting will take place on May 13. The board recommends paying 557.2 rubles per ordinary share as final dividends for 2019 (around $7.3). Thus, it is proposed to spend 8.2 billion rubles ($1.2 billion) to pay dividends.…
President of Norilsk Nickel, Vladimir Potanin, has suggested shareholders postpone paying dividends this year due to a crisis. Rusal, the largest shareholder, has not supported this. “Of course, shareholders like dividends. But when there is a choice between increased dividends and investments in strategic development, 75% of minor shareholders choose investments. During crisis it is…
Norilsk Nickel has decreased its forecast of the global palladium shortage in 2020 to 0.2 million ounces due to the spread of the coronavirus. In February, the company forecast the shortage on the level of 0.9 million ounces. But uncertainty in the balance of demand and offer arose due to the coronavirus resulting in the…
The Moscow Exchange switched the trade of Norilsk Nickel’s shares to a discrete mode at 2:08 p.m., Moscow time, on March 24, after a more than 20% price rise within 10 minutes in a row. Norilsk Nickel jumped by 14% earlier in the day on the back of a better mood of the global market…
Over 3.3 thousand units of new machinery and equipment will be supplied to Kola Iron and Steel Company, a part of Norilsk Nickel, in 2020. Investments will total 2.6 billion rubles. In particular, the Severniy mine will receive dump trucks and drilling machines. Anode cells, new polymer-concrete baths and a lot of pump machines will…
The metallurgical shop of the Copper Works of Norilsk Nickel has started using a new reagent, which allows increasing extraction by 6.5%. The initiative is expected to save 90 million rubles per year. The shop produces precious metals concentrates containing palladium, platinum, rhodium, iridium, ruthenium, silver and gold. (Ukrainian metal)
Russian metals giant Norilsk Nickel has suggested the government cover 50% of spending on 85-billion ruble renovation of housing in the city of Norilsk, and subsidize construction of ice-class ships and upgrade of port infrastructure. Sources said that the Industry and Trade Ministry had preliminarily approved the company’s request for state support, the majority of…