Norilsk Nickel prices sale of shares of Stillwater Mining Company

Norilsk Nickel notes a press release by Stillwater Mining Company relating to the pricing of secondary offerings of shares of its common stock at $19.50 per share by its majority stockholder, Norimet Limited, a wholly owned subsidiary of Norilsk Nickel (the “Announcement”). Mr. Vladimir Strzhalkovsky, Norilsk Nickel’s General Director and Chairman of the Management Board, commented:

“We are very pleased at the level of demand for the secondary offering of shares of Stillwater Mining Company, which translated into the tight discount achieved as compared to the market share price at the time of announcement of secondary offering.

This transaction will allow the Company to monetize its stake in Stillwater Mining Company in the most efficient way, and will result in a substantial gain for the Company and our shareholders. The sale of our holdings in Stillwater Mining Company is a scheduled step of our strategy to focus on core operations of Norilsk Nickel.

In the meanwhile, our customers in the United States remain very important to us and we will continue on developing sales of platinum group metals into North American market”