2025 Annual Report
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Business model

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Reduced environmental footprint across regions of operation

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A 20%—30% increase in ore output by 2030

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Deeper integration into emerging value chains and diversification of production capacities

Capital

Mineral resource base

Proven and probable reserves
1,481 mln t
of copper-nickel sulphide ores
261 mln t
of gold-iron-copper ores
7
existing deposits

Mining and metallurgical assets

7
mines
2
open pits
4
concentrators
4
metallurgical plants

Workforce

>78 thousand
employees

Auxiliary assets

  • Transport enterprises
  • Energy enterprises
  • Sales network
  • R&D institute

Performance

Mining

Norilsk site
20.4 mln t
of ore
Ni
1.10%
Cu
1.78%
PGMs
6.11 g/t
Kola site
6.0 mln t
of ore
Ni
0.54%
Cu
0.22%
PGMs
0.07 g/t
Trans-Baikal Division
13.7 mln t
of ore
Cu
0.56%
Energy Division
2,696 Mcm
of natural gas
113 kt
of gas condensate

Group’s metals production

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199 kt
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425 kt
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2,725 koz
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667 koz

Environment and climate

7.5 mln t
GHG emissions from operations (Scope 1 + 2)
5.5 mln t
GHG emissions (Scope 3)
99 %
of the Company’s industrial waste is non-hazardous
56 %
share of renewables
80 %
share of reused and recycled water

Financial highlights

USD 13.8 bn
revenue
USD 5.7 bn
EBITDA
USD 2.5 bn
net income
41 %
EBITDA margin
1.6 X
net debt/12М EBITDA
USD 2.6 mln
capital expenditures
CAPEX breakdown, USD mln
662Commercial377Sulphur Project1,589Stay-in-business

Value

Shareholders

29 %
increase in Nornickel’s share price since the start of the year

Workforce

RUB 18 bn
spending on social programmes for employees
RUB 217 thousand
average monthly pay
RUB 1.5 bn
spending on pension plans

Suppliers and contractors

99 %
share of Russian companies in supplies to Nornickel
2.96 points
customer satisfaction

Local communities

RUB 210 bn /
USD 2.5 bn
tax and other payments to budgets
RUB 20.8 bn
social expenses in regions of operation