“It is clear that in our situation we hope for transparency in relations with the state and for that the taxable base will not change from the beginning of the construction of a facility to its end. In fact, the reduced rate on insurance premiums is one of the key and most attractive measures,” he said, saying that this benefit begins to operate from the moment of obtaining the status of a resident in the area, although in fact the company does not need this reduced rate. “We only need it from the moment our facility is put into operation,” Andrey Grachev added asking legislators to support such a change in this benefit.
Further, he mentioned such a norm as a Regional Investment Project, which is a tool to support investment activities. “In simple terms, businesses are given tax breaks for the duration of a regional investment project, and businesses that save money on taxes invest in production,” Norilsk Nickel vice president explained, noting that business and the state benefit from this, and the company gets the opportunity to invest in expanding production.
“This mechanism is actually valid until 2028. We propose to extend this mechanism until 2050. In fact, this is already a practice that has received the approval of business, the state, and regional authorities go for this,” Andrey Grachev said.
ABOUT THE COMPANY
MMC Norilsk Nickel is a diversified mining and metallurgical company, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium and other products.
The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland.
MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are accepted for trading on the Saint-Petersburg Stock Exchange.
Norilsk Nickel fully supports the 2030 Agenda for Sustainable Development and the UN Sustainable Development Goals. The Company considers social responsibility and commitment to the principles of sustainable development as one of the pillars of operational efficiency and business development. Nornickel seeks to continuously improve its activities in the areas of environmental protection, human rights, health and safety, environmental impact assessment, and biodiversity preservation. The company spent RUB 221.5 billion on SDG-linked projects in 2021.
Vladimir Malakhov, Rough&Polished