Norilsk Nickel plans to extend Monchegorsk site at Kola mining and metallurgical company

Eight months after Norilsk Nickel focused on its "first-class assets" (which give the company more than $1 billion of proceeds per year, with an EBITDA margin above 40 % and reserves for over 20 years), the company decided to specify its strategy and tell about it to its investors in London.

At the end of 2013, Norilsk Nickel acknowledged that the list of the company’s first-class assets includes only the Zapolyarny subsidiary, but now the Chita project (the Bystrinsky GOK) was also included into the list. This was told by the first deputy general director of Norilsk Nickel, Pavel Fedorov.

According to him, the company will invest $1 billion into the development of the Bystrinsky GOK in the next three years. At the same time Norilsk Nickel isn’t going to develop the Bugdainsky GOK, also located in Chita: current molybdenum prices don’t justify the investments into this complex.