The Board of Directors of Norilsk Nickel (Nornickel), a Russian nickel and palladium mining and smelting company, has approved the 2025 budget.

Amid geopolitical challenges, market volatility, rising inflation, and high interest rates, Nornickel prioritized financial stability by expanding its operational efficiency program to control costs, increase production, and drive innovation.

The 2025 capital investment plan totals RUB 215 billion, focusing on operational safety, risk reduction, environmental commitments, and infrastructure support. Despite expected challenges, including a surplus in the nickel market, the company aims to sell its full metal output.

First Vice President and CFO Sergey Malyshev stated that the 2025 budget, marking Nornickel’s 90th anniversary, is ambitious and intensive. The company remains committed to achieving its goals, maintaining financial stability, and supporting investment appeal despite external challenges.