MOSCOW, December 11. /TASS/. Russia’s top nickel producer Norilsk Nickel plans to invest 1.5 bln rubles ($25 mln) in geological exploration in 2017, a 25% increase compared with 2016, the company said Monday.
"In 2016, geological exploration amounted to $1.2 bln, while in 2017 investment in geological exploration will total around 1.5 bln rubles," the report said.
In November 2016, the company’s Vice President Elena Bezdenezhnykh said that Norilsk Nickel planned to invest about 2 bln rubles ($31 mln) in geological exploration this year.
The company’s investment program envisions funding worth 800 bln rubles ($12.5 bln) until 2020, of which 300 bln rubles ($4.6 bln) are intended for environment projects.
Norilsk Nickel is a Russian diversified mining and metals company, the world’s largest producer of nickel and palladium and the major producer of platinum, cobalt, copper, and rhodium. The company is also producing gold, silver, iridium, osmium, selenium, ruthenium, and tellurium.