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GMK Noril'skiy Nikel' PAO (GMKN.MM)

GMKN.MM on Moscow Interbank Currency Exchange

13,782.00RUB
21 May 2019
Change (% chg)

руб234.00 (+1.73%)
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руб13,548.00
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Latest Key Developments (Source: Significant Developments)

Russia's Nornickel sees nickel demand growth slowing in 2019
Tuesday, 7 May 2019 

May 7 (Reuters) - Russia's Norilsk Nickel (Nornickel) , the world's largest palladium and refined nickel producer, says::It expects a global deficit of palladium to continue for another year; .Palladium demand will exceed supply for another 3-4 years;.Nickel demand will grow in 2019, but at a slower pace than last year; .Global nickel demand growth will slow to 4.6 percent in 2019 from 7.2 percent in 2018..  Full Article

Russia's Nornickel recommends dividend of 792.52 roubles/share
Friday, 26 Apr 2019 

April 26 (Reuters) - Russia's Norilsk Nickel (Nornickel) , the world's largest palladium and refined nickel producer, says::Its board of directors has recommended the final dividend for 2018 of 792.52 roubles per share ($12.25); .The final dividend in total will amount to 125.4 billion roubles ($1.9 billion). The total dividend distribution for 2018 will amount to $3.7 billion, including an interim dividend paid for the first six months of 2018 of $1.8 billion;.The Annual General Meeting of shareholders (AGM) has been set for June 10 with the AGM record date on May 17. The Board of Directors has proposed to set the dividend record date on June 21..  Full Article

Russia's Nornickel says Q1 nickel production up 3.4 pct y/y
Thursday, 25 Apr 2019 

April 25 (Reuters) - Russian nickel and palladium producer Norilsk Nickel (Nornickel) says::Consolidated nickel production was up 3.4 percent in Q1 2019 year-on-year to 56,000 tonnes;.Palladium output in Q1 was up 32 percent year-on-year to 770,000 ounces and platinum output was up 48 percent year-on-year to 204,000 ounces; .Consolidated copper output was up 13 percent year-on-year to 127,000 tonnes;.Reiterates its metal production guidance from own Russian feed, including Bystrinsky project, for 2019..  Full Article

Russia's Nornickel board approves nominations
Friday, 5 Apr 2019 

April 5 (Reuters) - Russian mining giant Norilsk Nickel (Nornickel) says::Nornickel's board of directors has approved nominations to the board for a shareholders' vote at its annual meeting this year..The nominations include the following candidates, who are not members of the current board: Maxim Poletayev, advisor to the head of Sberbank <<>>, Sergey Volk, a senior banker at Sberbank, Vyacheslav Solomin, executive director at En+ Management LLC and Evgeny Shvarts, director for conservation policy at the WWF in Russia..  Full Article

Russia's Nornickel invests $1.38 bln in two projects
Thursday, 28 Mar 2019 

March 28 (Reuters) - Norilsk Nickel , the world's largest palladium producer, said on Thursday::It is starting investments in the two prospective growth projects, which include expansion and reconstruction of the Talnakh concentrator and development of the South Cluster..The combined investment into these projects will be up to 90 billion roubles ($1.38 billion) over the next four years..The company is expecting to significantly increase the production of base and platinum group metals as a result of the projects.."We anticipate that new capital investments will result in an unprecedented increase in the output of base metals and PGMs (platinum group metals), all of which enjoy strong demand globally," Nornickel president Vladimir Potanin said in a statement..  Full Article

Norilsk Nickel ABB Bookrunner Says Due To Strong Demand, Deal Upsized To 2.7 Mln Shares
Tuesday, 12 Mar 2019 

March 12 (Reuters) - Bookrunner On Norilsk Nickel ABB::NORILSK NICKEL ABB: BOOKRUNNER SAYS DUE TO STRONG DEMAND FROM SOME LEAD ORDERS DEAL UPSIZED TO 2.7 MILLION SHARES.NORILSK NICKEL ABB: BOOKRUNNER SAYS BOOKS ARE OVERSUBSCRIBED ON REVISED SIZE; OFFERING WILL PRICE AT RUB 13,450.NORILSK NICKEL ABB: BOOKRUNNER SAYS BOOKS WILL CLOSE AT 7:20 PM UK TIME.  Full Article

Russia's Norilsk Nickel 2018 net profit up 44 pct y/y
Tuesday, 26 Feb 2019 

Feb 26 (Reuters) - Russia's Norilsk Nickel (Nornickel) says::2018 net profit at $3.06 billion, up 44 percent year on year;.2018 revenue increased by 28 percent year on year to $11.7 billion on the back of improved metal prices, higher copper output and sale of palladium from earlier accumulated stocks;.2018 EBITDA expanded 56 percent y/y to $6.2 billion owing to higher metal revenue, ramp-up of the Bystrinsky project and lower operating expenses driven by efficiency gains;.In 2019 Nornickel expects apparent nickel deficit in the global market to fall to approximately 50,000 tonnes; expects nickel consumption in battery sector to increase by 20 percent in 2019;.Expects palladium market deficit to amount to 0.8 million troy ounces in 2019 and palladium consumption to grow by 500,000 ounces to 11.2 million ounces;.Nornickel's 2018 capex decreased 22 percent to $1.6 billion driven by completion of Bystrinsky project and downstream reconfiguration as well as optimization of investment schedules;.Expects its 2019 capital investments at $2.2 billion–2.3 billion;.2018 net working capital decreased by almost $1.3 billion to $0.9 billion as a result of palladium destocking and optimisation of capital structure. Its free cash flow increased to $4.9 billion and net debt/EBITDA ratio returned to 1.1 as of the end of 2018..  Full Article

Russia's Nornickel to take dispute with Botswana's BCL to London
Wednesday, 13 Feb 2019 

Feb 13 (Reuters) - Russia's mining giant Norilsk Nickel (Nornickel) says::It will take its dispute with Botswana's BCL over the failed sale of Nornickel's interest in Nkomati to the London Court of International Arbitration (LCIA). .  Full Article

Norilsk Nickel says mid-term market outlook positive
Tuesday, 6 Mar 2018 

March 6 (Reuters) - Russia's Norilsk Nickel says::Nickel outlook is neutral short term, positive medium term​.In 2018 expects market deficit to reduce to 15,000 tons from 105,000 tons in 2017​.In long run sees very good prospects for battery sector becoming main driver of global nickel consumption.Palladium outlook - positive; market deficit to widen on back of demand growth from automotive sector and lack of new primary supply; no immediate threat from electric vehicles.In 2018, we forecast palladium consumption will rise to 11.1 million troy ounces, with market deficit widening to 1.2 million troy ounces.Net debt/EBITDA ratio for purposes of calculating final dividend for 2017 amounted to 1.88x​.  Full Article

Russia's Nornickel recommends H1 dividend of 224.2 roubles/share
Friday, 25 Aug 2017 

Aug 25 (Reuters) - Russia's Norilsk Nickel (Nornickel) said on Friday::Its Board of Directors has recommended an interim dividend payment of 224.20 roubles ($3.79) per share for the first six months of 2017;.It will hold an Extraordinary General Meeting for its shareholders (EGM) on September 29 with the EGM record date (the list of shareholders eligible to vote) on September 5;.The list of shareholders entitled to the interim dividend will be set on October 19;.The H1 dividend distribution will amount to approximately $600 million..  Full Article

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Palladium boom gives South African miners only temporary reprieve

LONDON A surge in palladium prices has thrown struggling South African mining companies a lifeline. But it may not be enough.