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20

Norilsk Nickel Completes OM Group's Acquisition

Russian metals giant Norilsk Nickel announced the completion of the purchase of OM Group's nickel business

OJSC Mining and Metallurgical Company Norilsk Nickel announced the completion of the purchase of OM Group's nickel business.

As a result of the purchase, Norilsk Nickel has acquired the following assets: Harjavalta nickel refining operations in Finland; Cawse nickel mining and processing operations in Western Australia; a 20% stake in MPI Nickel Pty. Ltd in Western Australia, an 11.1% holding through common shares and convertible debt in the Kainuu Region in Finland.

With this acquisition, Norilsk Nickel will further extend its operations internationally to Australia and Finland, and will strengthen its position in the global mining and metals industry. The company will increase refined nickel production capacity by up to 60,000 metric tons per annum, equivalent to an additional 35,000-40,000 tons per annum of refined nickel products excluding nickel produced under current tolling arrangements.

The Company is excited about gaining access to best in class operational skills and laterite HPAL leaching technology, as well as extending its product line to include nickel salts and briquettes.