Norilsk Plans $10 Billion Investments by 2018 to Boost Output
The company will focus on developing assets in Russia, mostly its Arctic projects, while it plans to sell assets in Africa and Australia, it said in a presentation on strategy to investors in London today.
Annual capital spending for 2014 through 2016 will be about $2 billion, including as much as $2 billion over the period to develop existing assets and as much as $3.2 billion of “stay-in-business” expenses, it said. It will spend as much as $1.2 billion on new projects in the period.
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