MMC Norilsk Nickel Held a Road Show Devoted to Sustainable Development Issues

MMC Norilsk Nickel (hereinafter, the Company or MMC Norilsk Nickel) held a road show devoted to sustainable development issues. In this regard, MMC Norilsk Nickel became the first Russian company that organized this kind of road show for the foreign investment community.

During the week from December, 3 to December, 7 MMC Norilsk Nickel’s representatives held a number of meetings with investors and independent consulting agencies in Helsinki, Stockholm, the Hague, Amsterdam, Rotterdam, Zurich and London to discuss the Company’s performance and future targets with respect to environmental protection and sustainable development.

One of the most frequently discussed topics at the meetings was the implementation of the project aimed at the reduction of sulfur dioxide emissions in the Polar Division of the Company. The Company’s representatives announced that two shops for removing sulphur from metallurgical facilities’ off-gases are to be built at the Copper Plant and the Nadezhda Metallurgical Plant (NMP) in Norilsk. To implement this project, the company held an international tender, which resulted in selection of an Italian company Techint, with the contract for the development of the Project Design Documentation being in place already.

Moreover, as part of the road show, the Company's experience in the area of corporate social responsibility was discussed. MMC Norilsk Nickel is one of the leaders in openness and transparency, practically implementing the principles of social responsibility.

Since 2005 MMC Norilsk Nickel has been publishing non-financial reports in order to inform the community on the principles, objectives, practical results and the prospects of the Company's activities in the areas of sustainable development. The annual practice of Corporate and Social Responsibility Reports makes it possible to develop corporate and social responsibility reporting system in compliance with the international standards, to look at a new angle at the Company’s policies in the area of corporate and social responsibility, which will ultimately allow of a continuous improvement in corporate governance efficiency.

Not long ago MMC Norilsk Nickel signed a new collective labour agreement, which provides for additional social guarantees and benefits as compared to those envisaged by the applicable laws. In particular, the new collective labour agreement provides for an enlarged social benefits package that includes compensation of travel expenses to the Company’s employees and their families to recreation places and back home, implementation of a number of housing programs contributing to the retention of young, rare and highly skilled personnel, including corporate programs "My home" and "Our Home”.

As was noted by Enos Banda an independent member of the Board of Directors of MMC Norilsk Nickel said that "Corporate governance practices in the field of sustainable development brought to life in MMC Norilsk Nickel are sufficiently advanced and broadly in line with the international standards." However, Mr Banda has a view of the further development of this area of work; particularly, he proposed to vest the Board of Directors with additional powers to regulate this area of activities.