OREANDA-NEWS. On January 22, 2009 OJSC MMC Norilsk Nickel (MMC Norilsk Nickel or the Company) announced that it cancels its membership in the Russian National Inter-Industry Association of Employers – Producers of Nickel and Precious Metals (Association), reported the press-centre of Norilsk Nickel.

The Association was founded in December 2007 upon the initiative of Olga Golodets. In her capacity of the Company’s Deputy General Director for Human Resources at that time, she took the position of the President of the Association. Top executives of MMC Norilsk Nickel assumed offices of General Director and members of the Association’s Board. In the middle of 2008 these executives left the Company but they have retained their positions in the mentioned organization to present day.

In view of this, in November – December 2008 MMC Norilsk Nickel proposed that the management of the Association include representatives of MMC Norilsk Nickel, its subsidiaries and affiliates in the Board of the Association and requested that the Association provide information about members of its revision commission. The management of the Association has ignored these proposals and requests.

2008 membership fee paid by MMC Norilsk Nickel to the Association amounted to RUB 15.9 million, and the fee for 2009 was supposed to be equal to 1% of the year’s payroll (but no more than RUB 15 million). Meanwhile, the Company has to admit that participation in this organization has resulted in no practical benefits for it.

In view of the above, the Company believes that further cooperation with this Association is unacceptable. The General Director of MMC Norilsk Nickel has signed the relevant notice and the issue of canceling participation in the Association has been put on the agenda of the next meeting of the Company’s Board of Directors.