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"Norilsk Nickel" increases power

31 December 2014

The representatives of «Norilsk Nickel» report the completion of the project, which is held on the «Norilsk concentrator.» Its main purpose is to increase the production capacity of processing of raw materials to 1 million. Ton. Project started almost two years ago at the Polar Division of the company. Before the start of the annual capacity of the factory project is 8 million. Tons of ore. In addition, the project involves the modernization of the complex. The company's specialists have reported on the implementation of the main tasks. Built and have commissioned large-ball mill. Installed and put into operation an automated pump installation «Warman». A conversion of the flotation section.

The next step is the completion of the installation, followed by the introduction of the work another 8-automated pumping systems. Completion of this phase is scheduled for the end of January 2015 according to preliminary calculations of the gravitational enrichment complex will be put into operation in late March.

In general, the «Norilsk Nickel» in 2015 planned expenditures for capital expenditures in the amount of 105 billion. RUB. This funding will enable the full provision of the planned modernization at the Kola Peninsula and in the Taimyr Peninsula. This also includes the cost of mining projects — in particular the rocky shaft. Attention will be given and the Chita project. At the same time, «Norilsk Nickel» management expects that the overall capital expenditures in 2015 will be lower than 1.7 bln. USD previously forecasted. Such calculations have proved the best conditions for payment service providers and contractors. Also take into account the positive dynamics of the exchange rate and tightened procurement procedures. In 2015 the expectations of the representatives of «Norilsk Nickel» has already concluded an agreement on the debt market would reduce the amount of credit to maturity of up to 500 mln. USD.

In addition, Sberbank of Russia provided «Norilsk Nickel» 5letnyuyu non-revolving line of credit. It amounted to 40 billion. RUB, and open the line until December 2019 At the end of the period provided for lump sum repayment. The transaction is considered and taken to the execution of the company's shareholders in June 2014. At the end of June, net debt stood at 3.46 billion. USD. Credit is given for the purpose of refinancing, extension and optimization of the debt portfolio. It is also envisaged to diversify foreign exchange component.

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