MOSCOW: Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has agreed with Russia’s Federal Agency for Fishery (or Rosrybolovstvo) to negotiate a potential settlement agreement in kind of the claim filed by the Agency against a subsidiary of the Company.
On petitions of the parties, the Arbitration Court of the Krasnoyarsk region has put on hold the judicial examination of the case by 60 days for the two parties to negotiate the voluntary settlement.
The parties will negotiate the terms of the joint development, settlement agreement and approval procedure, and implementation of the plan aiming at the rehabilitation of the biological aquatic resources of the Norilsk-Pyasino river system impacted by the diesel fuel spill incident in Norilsk in 2020.
The Company believes that a voluntary settlement is the most efficient instrument to support prompt and full rehabilitation of the impacted aquatic biological resources and the ecosystem.
Nornickel would like to remind that over the past few years it has been focusing on the restoration of ecological ecosystems in its regions of operations, which included the rehabilitation of valuable fish resources.
Background information. On August 3, 2021, the Arbitration Court of the Krasnoyarsk region accepted for judicial examination the claim from Rosrybolovstvo against Nornickel’s wholly-owned subsidiary NTEK for a total amount of RUB 58.7bn (approximately USD 805mn at the spot RUB/USD exchange rate) for the reimbursement of the damage to fish resources caused by the diesel fuel spill incident at an emergency storage facility of Heat and Power Plant #3 in Norilsk in 2020.
MMC Norilsk Nickel is a diversified mining and metallurgical company, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.
The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland.
MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.