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MMC Norilsk Nickel has announced that the company’s board of directors has approved a reduction in investment expenditure for 2012, as proposed by the management.
Investment expenditure budgeted for 2012 will be reduced by approximately 10%.
The approved cuts can be grouped into 3 categories:
1. About 80% of the budget cut will be achieved through optimizing equipment procurement and construction schedules.
2. About 10% of the budget cut will be made by not replacing worn-out equipment, which will be achieved by extending the lifetime of the existing equipment through maintenance.
3. The remaining 10% of savings will be achieved by other optimization measures, such as reducing the cost of purchased equipment and materials through technological optimization in ongoing projects. Tags: Diversified Metals & Mining, Mining and Metallurgical Company “Norilsk Nickel” OAO
Source (Russian): Norilsk Nickel
