U.S. sanctions, imposed on Rusal in early April, threaten the payment of dividends by Norilsk Nickel of some $434 million. According to a recent position of OFAC, payment of dividends to an entity from the sanctions list will result in the secondary sanctions to the payer. Nornickel Board of Directors recommended the annual meeting of…
Murmansk region will support the Norilsk Nickel investment project to reconfigure the manufacture at the Kola Iron and Steel Company valued at 25.7 billion rubles. According to the contract, signed by the parties, the project will cover 5 years (2018-2023) and all the Nornickel manufacturing sites in Murmansk region: Zapolyarniy, Nickel and Monchegorsk. As the…
The board of directors of Norilsk Nickel has set the date for the annual shareholder meeting – June 28. The board has recommended to set dividends for 2017 on the level of 607.98 rubles per ordinary share ($9.8). The total volume to be spent on paying dividends is 96.2 billion rubles ($1.562 billion). Taking into…
The High Court of London has started four-day hearings of a dispute between Russian aluminum giant UC RUSAL of businessman Oleg Deripaska and Interros of tycoon Vladimir Potanin over a sale of shares in metals giant Norilsk Nickel. Both businessmen arrived to the court to testify. A long-standing shareholder conflict, which was resolved in 2012…
En+ president Maxim Sokolov during the High Court of London process said that Rusal must buy 1.9% of Nornickel under the Roman Abramovich’s Crispian offer to keep balance, even though the price was high. “Unfortunately, when the company is cornered, we are forced to accept this premium. We do not want to buy this stake,…
The net profit of the Russian metals producer Norilsk Nickel increased by 30% YoY, to 48.8 billion rubles in January-March, as calculated under Russian Accounting Standards (RAS), the company said in a statement. Revenue rose by 28%, to 120.99 billion rubles. Gross profit grew by 34%, to 75.6 billion rubles, sales profit by 36%, to…
In January-March Norilsk Nickel produced 54 thousand tons of nickel, up by 1% YoY. The manufacture of the company own raw materials totaled 53 thousand tons, up by 8%. The increase has to do with the growth of converter matte processing. Copper output totaled 112 thousand tons, up by 18%. The manufacture of copper from…
PJSC MMC Norilsk Nickel, the largest producer of palladium and refined nickel in the world, and Russian Platinum LLC have signed a framework agreement on strategic partnership. According to the agreement, the parties will establish a joint venture to develop disseminated ore deposits in the Norilsk Industrial District. The JV will be 50%-owned by Nornickel…
