Norilsk Nickel Corporate Update

OJSC MMC Norilsk Nickel (LSE:MNOD) reported a corporate update on its social and economical activities.

As quoted in the press release:

Therefore, the Company pays all taxes in Russia and contributes heavily to the development of regional economy. In 2011, the Group paid a total of  about RUB 100 billion of taxes to the budgets of all levels.

In 2011, Norilsk Nickel Group paid almost RUB 43.5 billion (in form of taxes) to the consolidated budget of Krasnoyarsk Region. That is 3.5% more than in 2010. Tax payments of the Company comprised 30% of all tax revenues to the budget of Krasnoyarsk Territory. Norilsk municipal entity received RUB 7.5 billion from these funds, and Taimyr (Dolgano-Nenets) municipal district – RUB 0.28 billion.

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