Norilsk Nickel | 09 May 2012 г. | 10:01

Norilsk Nickel completes Bystrinsky GOK’s designing

Norilsk Nickel completes Bystrinsky GOK’s designing

Norilsk Nickel informs of successful completion of design stage at Bystrinsky GOK (Mining and Processing Combine). On August 10, the Company submitted the design documentation for the state expert appraisal. On August 14, the Company entered into an expert services agreement with Federal Autonomous Institution Glavgosexpertiza of Russia (State Expert Evaluation Department).

The Company’s subsidiary, Gipronickel Institute LLC, was contracted as a general designer.

It is scheduled to begin the GOK’s construction in 2013 and to terminate work in 2016. It is also planned to ramp the amount of production up to reach the design capacity by 2017. Pursuant to the design documentation, annual level of production shall amount to:

• 10 mln. tons of ore;
• 65.8 thousand tons of copper in concentrate;
• 2.1 mln. tons of iron in concentrate;
• 6.9 tons of gold in concentrate;
• 35.9 tons of silver in concentrate.

The construction of Bystrinsky and Bugdainsky GOKs (mining of a neighboring molybdenum deposit) is being implemented as part of private-public partnership. Investment Fund of the Russian Federation co-financing the construction of railways to the deposits is a partner of the project. At the moment, the Company builds the infrastructure and access roads to the deposits and carries out design work at Bugdainsky GOK.

Chita Project will become a principal source of revenue to the Zabaikalsky Territory’s budget. The development of Bystrinsky and Bugdainsky deposits by the Company will provide over 5 thousand new jobs in the region.

ABOUT MMC NORILSK NICKEL

MMC Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and metals company in Russia, the world's largest producer of nickel and palladium and one of the world's largest producers of platinum, rhodium, copper and cobalt. In addition to this, MMC Norilsk Nickel produces a large number of other by-products, including gold, silver, tellurium, selenium, iridium and ruthenium.

The key production units of the Company’s group in Russia are at the Taimyr and Kola Peninsulas. MMC Norilsk Nickel international assets include operations in Finland, Australia, Botswana and South Africa.

MMC Norilsk Nickel’s shares are traded at MICEX-RTS. ADR’s on the Company’s shares are traded on the other the counter market in the US and at the London and Berlin stock exchanges.

Source: Metal Supply & Sales
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