Vladimir Potanin: We Learned Our Lesson and Remain Committed to Industrial and Environmental Safety

MOSCOW, Feb. 5, 2021 /PRNewswire/ -- Today's Arbitrazh Court of the Krasnoyarsk region decision to collect 146.2 billion rubles ($1.9bln) from Norilsk Nickel in damages for the fuel spill at TPP-3 in Norilsk is a lesson not only for our company, but also a signal for the entire business community, said Vladimir Potanin, the head of the mining giant Norilsk Nickel appearing live on a national TV newscast on Friday. "We learned this lesson well. We are carrying out the instructions of the President to eliminate the consequences of the accident and to restore the ecosystem." - he said.

Potanin added that today's decision indicates the seriousness with which the state treats environmental issues. "We will be treating the issues of ecology and industrial safety with even greater seriousness from now on." – Mr. Potanin asserted. In his address he also announced a $4.6bln commitment to strengthening industrial safety and environmental programs at Nornickel – the largest financial allocation of this kind. It exceeds the damages fine of $1.9bln over two times, a figure questioned by independent experts and the Company itself. Nornickel launched a wide-scale environmental rescue effort from the first hours after the accident and created a financial allocation to cover the official damages bill announced earlier.  

The Arbitrazh Court of the Krasnoyarsk region has concluded its proceedings in consideration of the claim by the Russian Federal Service for Supervision of Natural Resources ("Rosprirodnadzor") for 148 billion rubles ($1.9bln) against NTEK, Nornickel subsidiary, seeking compensation of damages caused to the environment as a result of the diesel fuel spill accident on 29 May 2020. In its final hearing today, the Court decided to award the damages claimed by Rosprirodnadzor in the amount of RUB 146.2bln (USD 1.9bln). The cause of the spill was one of the fuel tanks rupture and collapse due to subsidence of the storage supports. 

About 

MMC Norilsk Nickel is a diversified mining and metallurgic company, the world's largest producer of palladium, high-grade nickel and a major producer of platinum and copper; it also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

MMC Norilsk Nickel shares are listed on the Moscow and on the Saint Petersburg Stock Exchanges; ADRs are traded over the counter in the U.S. and on the London, Berlin and Frankfurt Stock Exchanges.

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SOURCE MMC Norilsk Nickel