26 Apr 2022 17:28

Nornickel mulling two production plan scenarios beyond 2022, some investment projects might be rescheduled

MOSCOW. April 26 (Interfax) - Nornickel is looking at two scenarios for its production plan beyond 2022, depending on the situation with imported equipment and machinery, the Arctic mining and smelting giant's Senior Vice President and Operational Director, Sergei Stepanov, told Interfax.

The first scenario assumes the normalization of the situation in the near future and the resumption of equipment supplies currently suspended. "In this case, we will carry out the projects we have earmarked without redesigning, as we have conceived them, using the same equipment," Stepanov said.

"The second scenario: in two or three months we'll realize there will be no equipment. Then we'll adjust the roadmaps for the main projects, taking the prevailing situation into account. In this case, key projects will be carried out using other equipment, for argument's sake with Chinese and Russian components," he said.

Nornickel might have to reschedule some investment projects in the second scenario, where western equipment is unavailable, Stepanov said.

He also said Nornickel was still planning to expand capacity at the Nornickel Harjavalta refinery in Finland which will produce material for car batteries in Europe.