Equity Analysis /
Russia

Nornickel: Bet on organic growth and “green” evolution

  • Nornickel held its Capital Markets Day on Monday

  • Nornickel’s 3Y production guidance looks broadly unchanged with some reshuffling taking place.

  • The company’s cash costs rose in 2021 in response to increased taxation and one-off production losses

Boris Krasnozhenov
Boris Krasnozhenov

Head of Research (Managing Director)

Yulia Tolstykh
Yulia Tolstykh

Analyst, Metals & Mining

Alfa
1 December 2021
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