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Nornickel plans to invest in own development $11 billion to 2022

The company’s representative highlighted one of the initiatives - to use the blockchain technology to digitize the assets

YEKATERINBURG, July 10. /TASS/. According to Nornickel’s strategy for long-term development, the mining and metallurgical company will invest in own development $11 billion to 2022, Nornickel’s Senior Vice President Andrei Bugrov said at the Global Manufacturing and Industrialization Summit in Yekaterinburg on Tuesday.

"The strategy for long-term development to 2023 is aimed at organization of the modern, effective, ecology safe industry," he said. "The investments between 20199 and 2022 will make $11 billion."

Digital technologies’ implementation is the strategy’s key direction, he added.

The company’s representative highlighted one of the initiatives - to use the blockchain technology to digitize the assets.

"It is a step towards a new global, transparent, decentralized market," the senior vice president said, adding - by using this technology Nornickel will obtain access to non-debt financing on favorable conditions.

Nornickel is a diversified mining and metallurgical company, the world’s leading producer of nickel and palladium, a leading producer of platinum, cobalt, copper and rhodium.

The Global Manufacturing and Industrialization Summit (GMIS) opened in Yekaterinburg on July 9 and will continue working to July 11. The event’s organizer is the Roscongress Foundation. TASS is the summit’s general information partner and official photo hosting agency.

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