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(Wallace Refiners) – Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announced today that following receipt of the judgment dated 12 February 2021 issued by the Arbitrazh Court of the Krasnoyarsk region in relation to the diesel fuel spill incident on 29 May 2020 at Heat and Power Plant № 3 (HPP-3) in the Kayerkan neighborhood of the city of Norilsk, the company has decided to comply with the judgment.
Earlier, the Arbitrazh Court of the Krasnoyarsk region announced that it decided to award damages claimed by the Russian Federal Service for Supervision of Natural Resources in the amount of RUB 146.2 bn (approximately USD 1.9 bn).
Chairman Gareth Penny commented, “Following a thorough review of the court judgment and based on the advice of internal and external counsel, the company has decided not to pursue an appeal in this matter. We welcome this decision as this will enable Nornickel to move on and concentrate its efforts on the execution of its ambitious sustainable development strategy.”
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 are located at the Norilsk industrial district, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and in South Africa.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
