Nornickel's capex in 2025 will be reduced to ₽215 billion

Nornickel's Board of Directors approved the company's budget for 2025, including capital expenditures of ₽215 billion. This year's capex will amount to $3-3.2 billion. Given the focus on maintaining financial stability in 2025, the company will adhere to a risk-oriented prioritization of the investment program. In addition, the management expects to sell all of its output despite the challenging conditions in the metals markets, where, in particular, nickel is expected to be in surplus.