Norilsk Nickel canalizes this year more than rub17 bln for re-equipment

NORILSK NICKEL notifies that in 2012 the Company’s investments into re-equipment of basic national production premises run up to RUB17,1 BLN which is 2,3 times as much as the money spent in 2011.

The Polar Division will disburse RUB14,4 BLN to replace the out-of-repair equipment, while the re-equipment of Kola MMC will cost the Company RUB2,7 BLN.

According to Yuri Filippov, acting first deputy general director of the Company, bringing the production up-to-date has been presently one of the top priorities of the Company and eventual imperative for the growth of expenditures on keeping up to date basic assets, re-equipment and investment program which is oriented for launching new capacities

A large scale investment program is budgeting, in 2012, more than USD 3 BLN for mining, concentrating and metal production.

In line with the “Production Development Strategy of Norilsk Nickel until 2025”, adopted last October, the Company is canalizing, within the future 15 years, more than USD37 BLN for the development program.

ABOUT MMC NORILSK NICKEL

MMC Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and metals company in Russia, the world's largest producer of nickel and palladium and one of the world's largest producers of platinum, rhodium, copper and cobalt. In addition to this, MMC Norilsk Nickel produces a large number of other by-products, including gold, silver, tellurium, selenium, iridium and ruthenium.

The key production units of the Company’s group in Russia are at the Polar and Kola Peninsulas. MMC Norilsk Nickel international assets include operations in Finland, Australia, Botswana and South Africa.

MMC Norilsk Nickel’s shares are traded at MICEX-RTS. ADR’s on the Company’s shares are traded on the other the counter market in the US and at the London and Berlin stock exchanges.