Duke Georgy Romanov will be tasked with holding talks with the European Commission, which is now discussing whether to classify a number of nickel compounds as hazardous substances, the Moscow Times reports.
“This issue became especially sensitive for us in a time of crisis,” a Norilsk spokeswoman, who declined to be identified in line with the company’s policy, told the newspaper.
“Some of the compounds may be classified as affecting health even though no one has conducted any research into them.” Norilsk exports most of the compounds it produces in Russia.
Meanwhile, the company faces a major decline in profits following lower raw material prices and decreasing international demands. After years of huge profits, the company faces deficits next year, analysts say to Smart Money.
Representatives from the Renaissance Capital analysis company believes nickel next year will cost 12,5 USD per ton, smoney.ru reports. That forces the company to reduce investments and alter plans. According to the newspaper, Norilsk Nickel is expected to reveal a new company strategy early 2009.
