MMC Norilsk Nickel (MNOD)
Public Joint Stock Company “Mining and Metallurgical Company “Norilsk Nickel” (“MMC Norilsk Nickel”, “Nornickel” or the “Company”)
NORNICKEL COMPLETED SELF-ASSESSMENT FOR IRMA CERTIFICATION
Moscow, March 17, 2023 – PJSC MMC NORILSK NICKEL, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces today that it completed independent self-assessment of its mining assets’ readiness for certification in accordance with the Initiative for Responsible Mining Assurance (IRMA) Standard.
The IRMA standard is one of the highest sustainable business standards in the global mining and metals industry. Important focus areas of the Standard are occupational health and safety, the health and quality of life of workers and communities, respect for human rights, and engagement with indigenous peoples.
In 2022, the Company completed the self-assessment of its mining assets using the self-assessment tool. ENSOR Management Consultants, an independent consultant, which inspected Nornickel mines for preparedness for IRMA certification in the future, reviewed the results. The self-assessment covered eight key mines of the Norilsk and Kola Divisions (Taimyrsky, Oktyabrsky, Komsomolsky, Skalisty, Zapolyarny, Mayak, Severny, and Kaula-Kotselvaara). According to the self-assessment results, in case of independent audit under certification the Company may achieve the IRMA Transparency level of performance.
The exercise involved an in-depth analysis of documents related to social responsibility, environmental responsibility, business integrity, and planning for positive legacies, asset visit, as well as a series of interviews with management and employees of the head office and regional divisions.
This year the Company plans to develop and implement a roadmap of corrective actions to increase the level of compliance with the requirements of the IRMA standard.
Vladimir Zhukov, Vice President for Investor Relations and Sustainable Development: “Nornickel aspires to follow global best practices in sustainability. The Initiative for Responsible Mining Assurance is one of the most widely accepted and rigorous standards in our industry. Our efforts to meet this standard are consistent with our goal of also becoming a sustainability leader and enhancing our competitive edge in the market. Nornickel customers’ demands for eco-friendly products reflect the end consumers’ shared vision for a green and clean planet. Therefore, by improving its sustainability performance, the Company is also addressing a range of other important challenges and issues relating to social responsibility, environment, industrial safety and improving the quality of life of local communities in the regions of presence.”
The Initiative for Responsible Mining Assurance (IRMA) is an international non-profit organization founded in 2006 and uniting more than 100 member organizations. The Standard for Responsible Mining, a voluntary certification system for large-scale mines launched in 2018, includes four principles, 26 chapters (topics) and 400+ requirements, including 40 critical requirements. Based on the result of certification, the Company can achieve the level of performance - IRMA Transparency/IRMA 50/IRMA 75/ IRMA 100.
ENSOR Management Consultants LLC was established by the former team of Environmental Resources Management in Russia after the latter suspended its activities in 2022. Its experts have many years of experience in environmental and social risk assessment and management.
ABOUT THE COMPANY
MMC Norilsk Nickel is a diversified mining and metallurgical company, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum, cobalt, copper, and rhodium. The Company also produces silver, gold, iridium, ruthenium, selenium, tellurium, sulphur, and other metal products.
The Norilsk Nickel Group operations are located in the Norilsk Industrial District, on the Kola Peninsula and in the Zabaykalsky Territory in Russia, as well as in Finland.
In Russia, MMC Norilsk Nickel shares are listed on the Moscow and Saint Petersburg stock exchanges, and ADRs are traded on the Saint Petersburg Exchange (SPB Exchange).
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