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Kola MMC will replace equipment

17 December 2014

Kola Mining and Metallurgical company began implementation of the Project for technical re-equipment of production of the crushing department. Stages of the project include the change of the main equipment of small and medium crushing. The incarnation of the project will allow increasing the volume of its raw materials output Kola company by increasing metal recovery to the concentrate. «Norilsk Nickel» will invest in the project more than 700 mln. RUB. Preparation of the ore in the mill technology is one of the main tasks in the process of enrichment. Recovery ratio in the cobalt concentrate, nickel and copper depending on the size of crushed materials supplied then grinding. In order to achieve the most optimal modes of operation of the company's management has decided to implement the replacement of domestic equipment. After implementation of the project instead of the old mills will be installed crushing and screening modern equipment from the company «MetsoMinerals».

Replacement of equipment will be carried out in several stages. In general, to be established six screens and six mills. Presumably, the new equipment installation will be carried out on existing technological terms. Reconstruction points of foundations and installation of new communications will be made before that. According to preliminary estimates the work will be finished by the middle of next year.

Meanwhile, «Norilsk Nickel» opened 5letny credit in the Savings Bank of Russia. Its capacity is 40 billion. RUB, as reported by the company. The credit line will be up to the 12th month of 2019. Provided credit for a five-year period, the contract is concluded in the framework of the refinancing, optimization and lengthening of the debt portfolio. Implementation of the deal was approved in June of this year at the annual meeting of shareholders.

In general, the company is doing quite well. By the end of the first half net debt «Norilsk Nickel» amounted to 3.46 billion. USD. In the same period last year the figure was up 32%. the company's short-term debt decreased by almost 2 times the performance at the end of last year. This amounted to 439 million. USD. However, long-term debt increased to 5.6 bln. USD, while the previous figure was 5.2 billion. USD. The EBITDA decreased from 1.1 to 0.8.

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