Norilsk sees 2019 CAPEX $2.3–2.5 bln, at $2.3–2.6 bln in 20-22

MOSCOW, Nov 19 (PRIME) -- Russian metals producer Norilsk Nickel expects its capital expenditures to amount to U.S. $2.3–2.5 billion in 2019 and $2.3–2.6 billion a year in 2020–2022, the company said in a statement on Monday.

In 2018, the capital expenditures will amount to $1.6–$1.7 billion.

Norilsk Nickel will spend $900 million–$1 billion on obligatory projects, including infrastructure and equipment upgrade, the same amount on commercial projects including Bystrinsky, $300 million on environment and $200 million on development projects.

Norilsk Nickel plans to raise output by 5–8% until 2020, as compared with 2017. Nickel and copper production can grow by 15% by 2025 from the level of 2017, platinum and palladium production will rise by 25%, ore processing by 45% to more than 25 million tonnes.

The company expects its earnings before interest, taxes, depreciation and amortization (EBITDA) to rise by $300 million in 2018 from $3.995 billion in 2017.

“Norilsk Nickel is expecting over $300 million of additional EBITDA in 2018 thanks to the increase in production volumes and labor productivity,” the company said.

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