Russia’s Norilsk Nickel raises 2016 capex to 145 bln rbl

MOSCOW, Dec 14 (PRIME) -- The board of directors of Russian nickel producer Norilsk Nickel has approved an increase of 2016 capital expenditures to 145 billion rubles from 100 billion rubles in 2015, the company said in a statement on Monday.

“Investment priorities in 2016 will be in compliance with an approved strategy of the mining and metallurgic company and will secure one of highest margins of commercial projects in the industry even in the current pricing environment, as for commercial projects,” it said.

(69.1755 rubles – U.S. $1)

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