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"Norilsk Nickel" expect reductions in revenue, but continues to invest

18 February 2015

According to Vladimir Potanin, the CEO and co-owner of «Norilsk Nickel» in 2015 will be quite difficult. This year you can expect a reduction in foreign exchange earnings at the level of 10 billion. USD. The main influencing factor in this case is the collapse in prices for industrial metals. Reduced cost of copper and nickel reduces revenues. However, Vladimir Potanin does not specify the size of foreign exchange earnings, «Norilsk Nickel», the company received in 2014. Nickel prices, fell more than 40% from 2014, the peak in May. In the last year prices have jerked up in the wake of the Indonesian ban on the export of nickel raw materials. The cost of copper produced «Norilsk Nickel», also reached its lowest level for the last 5.5 years. Analysts expect to receive foreign exchange earnings in the current year at the level of 10 billion. USD. However, the devaluation of the RUB to some extent compensates for the loss, depending on cost reduction.

In 2013, the income of «Norilsk Nickel» amounted to 11.5 billion. USD. Of these, 10.4 bln. USD had to implement the metal. During the first half of 2014 the company had revenue of 5.2 billion. USD. The fall of the ruble will serve us in good stead during the period to reduce the cost of commodity metals. Keep in mind that the production costs of the company employs in the national currency. The implementation of the same product is produced, as a rule, for the currency.

Despite the expected decrease in revenue, «Norilsk Nickel» has continued to invest in the re-production, which is the main goal of the company. According to the results of last year Kola MMC, a subsidiary of «Norilsk Nickel», has spent more than 1 billion. RUB for the purchase of new equipment. For units were purchased about 900 pieces of equipment. Upgrading technology contributes to both improve performance and enhance safety of production processes.

In particular, the mine «Northern» Scooptrams were purchased, underground heavy dump trucks, stationary installation for shotcrete mining, self-propelled drilling rig that allows drilling deep wells. There have also been procured freight mining and mine trucks. In the refining shop filter press was installed, electrostatic precipitator, complex switchgear device. The nickel electrolysis shop of the press filter, and the polymer-concrete bath was set in the amount of 40 pieces.

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