Norilsk Nickel Revised Capital Expenditure Guidance for 2014; Provides Capex Guidance for 2015
December 15, 2014 at 08:59 am EST
Norilsk Nickel expects 2014 capital expenditures to be below recent guidance of $1.7 billion due to improved payment terms with contractors, tighter procurement procedures and favorable foreign exchange rate. The company's five-year capex plan, approved by shareholders, provides for investment of about $2 billion a year.
The company approved capex in 2015 at RUB 105 billion.