Advancing transformational
change
Annual report // 2016
Tier I assets as the platform
for sustainable development
Downstream upgrade for better
performance
Maintaining corporate culture
as added value for stakeholders
Focus on Tier I assets for
higher shareholder returns
Better financial performance
for sustainable future
Approved in 2013, the Company’s
strategy with a focus on
Tier I assets and
a disciplined investment approach has
proved its viability by delivering the
industry’s highest shareholder returns.
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Focus on improving the cash cost
profile, recovery rates, as well
as environmental performance.
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Focus on lower pollutant emissions and
overall improvement of the living and
working conditions of employees.
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Strategic focus on unlocking the
potential of Tier I
assets, i.e. projects with
an annual revenue of over USD
1 bn, EBITDA margin of 40% and
mine life of reserves ratio
of at least 20 years.
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Social responsibility, health, safety
and environment
Major upgrade
of production
capacities
of production
capacities
Growth based on Tier I
assets in Russia
Nickel STRATEGY
strategic
priorities
Key investment projects
Capital expenditures in 2016
Capital expenditures in 2016
Our investment project KPIs proved
to be resilient to the challenging macro
environment, and we will carry on with their
implementation despite commodity market volatility.