NEW STRATEGIC CONCEPT

MORE GREEN METALS FOR A GREENER FUTURE

STRATEGIC AMBITIONS OF THE INVESTMENT PROGRAMMEGuidance confirmed with the projected investment growth expected to be offset by the rouble depreciation.1
20202021FAveragefor 2022F–2025FAveragefor 2026F–2030FBase investment programmeand other projectsEnvironmental programmeGrowth projects
ORE PRODUCTION IN THE NORILSK INDUSTRIAL DISTRICT (MTPA)Norilsk Industrial District.2
2030+2025201730–3224–2617
Growth
up to
1.8x
Increase in mining
The resource base potential has been confirmed, with production growth targets for 2030 moderately increased to 20–30% for non-ferrous metals and 40–50% for PGMsFrom a 2017 baseline.3
STRATEGIC AMBITIONS FOR 2030+ METAL PRODUCTIONMetals produced from our own feedstock (including metals in semi-products for sale), excluding production at the Bystrinsky project and Nkomati.4
Ni
kt
Growth
+
20-30%
Strategic ambition 20302017250–270210
Cu
kt
Growth
+
20-30%
Strategic ambition 20302017490–530398
Pt+Pd
t
Growth
+
40-50%
Strategic ambition 20302017150–160105
Climate change
EMISSION INTENSITY CURVE FOR NICKEL, T OF CO2 EQUIVALENT/T OF NI EQUIVALENT
Emission intensityProduction (cumulative percentage)75%25%50%Nornickel’sstrategicthreshold

Source: Wood Mackenzie,
Nornickel’s estimates

Sulphur Programme 2.0
Reducing emissions by 45% by 2023 and 90% by 2025
More details
Upgrade of downstream assets
MINING
CONCENTRATION
SALES
REFINING
SMELTING
More details

1 Guidance confirmed with the projected investment growth expected to be offset by the rouble depreciation.

2 Norilsk Industrial District.

3 From a 2017 baseline.

4 Metals produced from our own feedstock (including metals in semi-products for sale), excluding production at the Bystrinsky project and Nkomati.