EQS-Regulatory: NORNICKEL TO BUY COPPER CONCENTRATE FROM ROSTEC
Dienstag, 27.12.2016 15:40 von DGAP
MMC Norilsk Nickel / Miscellaneous - High Priority
NORNICKEL TO BUY COPPER CONCENTRATE FROM ROSTEC
27-Dec-2016 / 15:35 CET/CEST
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LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
NORNICKEL TO BUY COPPER CONCENTRATE FROM ROSTEC
Moscow, December 27, 2016 - PJSC MMC NORILSK NICKEL (hereinafter,
'Nornickel' or the 'Company') has entered into a transaction to buy copper
concentrate from the state Rostec Corporation (hereinafter, 'Rostec' or the
'Corporation') with an estimated volume of 1.5 million tonnes, containing
base and precious metals. The transaction value will be approximately 67.5
billion rubles.
The Board of Directors of the Company approved the purchase of this
concentrate taking into consideration the fact that this transaction passes
the internal rate of return hurdle applied to commercial projects.
In 2016, the Russian Government transferred the copper concentrate held in
safekeeping in the Norilsk Industrial Area (currently, the Polar Division
of Nornickel) since the 1980s as a lump-sum property contribution from the
Russian Federation to Rostec.
Nornickel is planning to process this copper concentrate at its own
production facilities into refined products and sell them through the
Company's distribution network over the course of next several years. The
volumes of refined metal that the Company is expecting to extract from this
concentrate were already included in the metal production forecasts
published for the years 2017-2018. The consideration will be paid to Rostec
in several approximately equal tranches within four years as far as the
concentrate will be processed and refined products sold by the Company.
ABOUT THE COMPANY
PJSC MMC NORILSK NICKEL is a diversified mining and metallurgical company,
the world's largest producer of refined nickel and palladium and a leading
producer of platinum, cobalt, copper and rhodium. The company also produces
gold, silver, iridium, selenium, ruthenium, and tellurium.
The production units of Norilsk Nickel Group are located at the Norilsk
Industrial District and on the Kola Peninsula in Russia, as well as in
Finland.
PJSC MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-
Petersburg Stock Exchanges. PJSC MMC Norilsk Nickel ADRs trade over the
counter in the US and on the London and Berlin Stock Exchanges.
Media Relations: Investor Relations: Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20 Email: pr@nornik.ru Email: ir@nornik.ru--------------------------------------------------------------------------- The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg --------------------------------------------------------------------------- Language: English Company: MMC Norilsk Nickel 1 st Krasnogvardeysky av., 15 123100 Moscow Russia Internet: www.nornik.ru ISIN: US55315J1025 WKN: A140M9 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt ; London, Nasdaq Category Code: MSCH TIDM: MNOD Sequence Number: 3724 Time of Receipt: 27-Dec-2016 / 15:35 CET/CEST End of Announcement EquityStory.RS, LLC News Service --------------------------------------------------------------------------- 532953 27-Dec-2016