MMC Norilsk Nickel Finishes Design To Increase Nicke Output

MMC Norilsk Nickel (LSE:MNOD) announced that design works aimed at increasing disseminated nickel ore output at Zapolyarny Mine have been completed.

As quoted in the press release:

On September 14, 2012 a complete set of documentation and engineering research results were submitted to the Federal Autonomous Institution State Expert Appraisal Department for examination.

The project is targeted at the development of disseminated ore reserves of Norilsk-1 deposit located within licensed mining area (mining claim) of Zapolyarny Mine with gradual increase of mine production capacity from 1.2 to 2 mln. t of ore p.a., as well as the construction of power, heat and water supply facilities for the mine. Total project investments are estimated at USD 621 mln. The mine is expected to reach its design production capacity of 2 mln. t in 2019.

Click here to read the MMC Norilsk Nickel (LSE:MNOD) press release.