Nornickel to continue financing key projects in 2023

Nornickel to continue financing key projects in 2023

December 21, 2022

The Board of Directors approved the company's budget for the next year.

#ARCTIC. #SIBERIA. THIS IS TAIMYR. The Nornickel Directors Board approved the company’s budget for 2023. It is aimed at maintaining financial stability in the face of current geopolitical risks and new challenges. The company intends to continue fulfilling its social obligations and financing measures to improve the reliability of fixed assets and reduce environmental impact.

The investment program for 2023 provides funding for key projects. These are the Sulfur Program 2.0, mining projects, projects to maintain the infrastructure of the fuel and energy complex of the Norilsk industrial region and to replace equipment and capitalized repairs, as well as social projects.

“Next year, the company is going through the peak of the investment cycle, in connection with which the total volume of capital investments is expected to grow by ten percent compared to 2022, which is projected at about $4.7 billion”, the Nornickel’s press service said.

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Text: Denis Kozhevnikov, Photos: Marina Peshkova and Nikolay Shchipko

December 21, 2022

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