16
Feb
14:44
Nornickel’s 2020 revenue increases, outlook positive
Russian mining company Nornickel delivered strong financial results in 2020, despite the large environmental provision related to the damages caused by a fuel spill in the Arctic, the Covid-19 pandemic and temporary build-up of metal inventory, the company says.
Its revenue increased 15% on-year to $15.5 billion, driven by higher prices and the ramp up of Bystrinsky project, Kallanish notes. Net profit decreased by 39% on-year to $3.63 billion.
The company also …
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