Nornickel plans to invest RUB4bn ($53.9mn) to upgrade its Kola Mining and metallurgical plant this year to improve its productivity and increase safety of its production processes.
The firm is expecting a total of 6,800 various machines required for the modernization of which most will be delivered to its Severny mine. The nickel-copper miner has invested close to RUB764mn in 14 auxiliary self-propelled machines which are expected to be delivered in H2 2021. Another RUB300mn has been invested on new press filters, reactors and other equipment needed for the chemical and metallurgical workshop. Close to RUB118mn has also been allocated for replacement of high-pressure receivers.
Kola MMC has a mineral reserves resource of close to 327.3mn mt of nickel and copper ore, containing about 2.3mn mt of nickel metal and 1.1mn mt of copper metal.
($1 = RUB 74.18)