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Increases ore reserves estimate

Industry in the Barents Region.

Norilsk-Nickel says the ore reserves growth on the Kola Peninsula is expected to reach 70 million tons by 2025.

Location

The growth includes 750.000 tons of nickel and 340.000 tons of copper, the company says in a statement posted on its portal.

Norilsk-Nickel’s development strategy till 2025 was approved by the Board of Directors in late October. The total investment into the development of the mineral resource base including mining assets and construction and commissioning of new mines will reach $10,9 billion (€8,2 billion).

Read alsoNikel eco-modernization will cost €120 million

Norilsk-Nickel has mines in Norilsk on the Taimyr Peninsula in Siberia, on the Kola Peninsula and other places around the globe.

Key long-term objectives include reserve growth across all ore types at existing deposits, additional exploration and launch of new deposits as well as search for prospective areas in close proximity to existing fields.