Norilsk Nickel to review its development strategy

Norilsk Nickel reviews its development strategy to adapt itself to modern market conditions and may review its dividend policy, the General Director Vladimir Potanin stated in an interview.

“Put simply, the company must become more modern. It still works as a Soviet Ministry, - he said. – There are a lot of bureaucracy and other things, from which we should get rid in the current difficult conditions on the financial markets”.

The company with market capitalization in the amount of $20.6 billion, annual proceeds in the amount of $12 billion and EBITDA rate in the amount of about $5 billion intends to turn away  from long-term projects for 15 and more years in favor of short-term ones – up to 2 years with profitability in the amount of at least 20%.