Norilsk Nickel increases tax payments

The site russian location
August 1, 2011 - OJSC "MMC" Norilsk Nickel "(hereinafter referred to MMC" Norilsk Nickel "or the Group Company) informs about the size of their tax deductions for the first half of 2011.

MMC "Norilsk Nickel" plays an important role in social and economic life of the regions of. The company is the largest taxpayer and employer, the majority of companies in the Group have the status of company towns.

MMC "Norilsk Nickel" is registered and conducts its principal operations in the territory of the Russian Federation. Accordingly, the Company pays all taxes in Russia, making a significant contribution to the socio-economic development of regions. Tax revenues of the Company's account for a significant share of the budgets of Krasnoyarsk Krai and Murmansk region.

For the first six months of 2011 budgets at all levels only MMC "Norilsk Nickel" (without the rest of the Group) listed the 836.56 million U.S. dollars, up 228.45 million U.S. dollars more than the same period in 2010. Of these, income tax amounted to 678.67 million U.S. dollars.



In the consolidated budget of Krasnoyarsk Territory tax revenue the Company accounted for 638.34 million U.S. dollars, up 174.7 million U.S. dollars more than the same period last year (including income tax - 524.11 million U.S. dollars). Of these funds, the municipality of Norilsk received 124.3 million U.S. dollars.

Murmansk transport branch in the first half of 2011 taxes listed in the  80 million U.S. dollars in consolidated budget of the Murmansk region. Payments to a subsidiary of MMC "Norilsk nickel" - "Kola Peninsula" in 2011 on the same budget amounted to  87.3 million U.S. dollars, including income tax 43.68 million U.S. dollars.

In addition, in 2011, the Company had paid insurance premiums in the state budget funds amounting to 94 million U.S. dollars, or nearly 35 million U.S. dollars more than in the first half of 2010.

COMPANY INFORMATION

Open Joint Stock Company "Mining and Metallurgical Company" Norilsk nickel "- a diversified metals and mining company, which is the world's largest producer of nickel and palladium and a leading producer of platinum, cobalt, copper and cobalt. The company also produces gold, silver, iridium, osmium, selenium, tellurium and ruthenium.

Production facilities of GMK "Norilsk Nickel" in Russia are in the Norilsk industrial region and the Kola Peninsula, as well as in Finland, Australia, Botswana and South Africa.

In Russia, shares of OAO "GMK" Norilsk Nickel "are traded on the MICEX and RTS. ADRs are traded on the OTC market in the U.S., London and Berlin stock exchanges.