Growth based on Tier I assets in Russia

Strategic focus on unlocking the potential of Tier I assets, i.e. projects with an annual revenue of over USD 1 bn, EBITDA margin of 40% and mine life of reserves ratio of at least 20 years

Production growth based on the existing Tier I assets in Russia

Development of the Talnakh Ore Cluster

Talnakh Ore Cluster’s reserves and resources

The calculations are made in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”)

Proven and probable ore reserves of the largest nickel mines, mln t
17.518.5 mtpa Target ore output of the Talnakh Ore Cluster by 2025
Talnakh Ore Cluster: No. 1 in nickel and polymetallic ore reserves

New growth areas

Development of Bystrinsky Mining and Processing Plant (Chita project)

Stripping, mln cubic meters
Increase of reserves 336 mln t
Capacity annual 10 mln t

Lower project risks through project financing and investments of strategic partners:

  • The project received USD 0.8 bn of project financing from Sberbank for eight years;
  • Investment agreement with Highland Fund (China) to sell a 13.33% stake in the Bystrinsky project for USD 100 mln;
  • The sale of an up to 39.32% stake in the project to the consortium of investors approved by the Board of Directors.

Optional growth areas

Development of the Southern Cluster

Its perimeter includes:

  • Zapolyarny Mine and Medvezhy Ruchey open pit (Norilsk-1 Field)
  • Norilsk Concentrator
  • Stockpiles of secondary resources
Output increase potential, mln t

In 2016, Zapolyarny Mine output was 2 mln t, and the Company expects to increase it to 6 mtpa (4 mtpa by open pit mining and up to 2 mtpa by underground mining).