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Nornickel invests $1.7 million in Kola Mining and Metallurgical Company’s modernization

Nornickel will invest in Kola MMC's container facility

MURMANSK, January 17. /TASS/. The Norilsk Nickel Company (Nornickel) invested 100 million rubles ($1.7 million) in modernization of the Kola Mining and Metallurgical Company’s (Kola MMC) container facility to optimize the products’ uploading there, Kola MMC’s press service said on Wednesday.

"Nornickel’s investments in the project are about 100 million rubles," the company said.

This facility is of top importance for the Kola Mining and Metallurgical Company. It is used in shipment of end-products (nickel and copper) to consumers, as well as in receiving large cargoes - mostly, production equipment. The facility’s reconstruction was caused first of all by the growing outputs of nickel in Monchegorsk (Murmansk Region) - the growth at Kola MMC over past two years made more than 30%.

However, the processing of containers remained at the earlier level. The modernization will increase by four times the number of railway platforms served at a time - up to 20 platforms. Thus, the modernization will save time and will also allow to cut by four times use of the maneuver locomotives in platforms’ shunting.

The Kola Mining and Metallurgical Company is a leading production complex in the Murmansk Region - a major producer of non-ferrous metals, including strategic metals. The company is the world’s biggest nickel refining enterprise and Russia’s only producer of electrolytic cobalt of highest grades. Kola MMC produces 39% of nickel and 42% of cobalt the Norilsk Nickel Company produces. The products are supplied to the domestic market and exported to European countries.