OREANDA-NEWS. July 02, 2012. At the regular meeting of the Board of Directors of OJSC MMC Norilsk Nickel (“MMC Norilsk Nickel” or “the Company”) that took place today the following issues were reviewed, reported the press-centre of Norilsk Nickel:

I. Study of the possibilities to reduce production and investment costs of the Company in the conditions of an unfavorable pricing environment.

The Board of Directors issued a directive to prepare the proposals for the reduction of the investment expenses of the Company for 2012 and in case of market disruption and submit them to the Budget Committee of the Board of Directors.

II. The Strategy for the production and technical development of the Company up to 2025.

The Board of Directors advised to explore the option of making changes in the Strategy for the production and technical development of the Company up to 2025 based on 2012 results, considering the current market situation and prospects for the development of the global metals and mining industry.

III. Activities aimed at increasing MMC Norilsk Nickel’s capitalization.

The Board of Directors entrusted the management with submitting for approval of the Board of Directors a list of activities aimed at the reduction of MMC Norilsk Nickel’s charter capital via redemption of up to 10% of the Company’s shares before the end of 2012. Moreover, taking into account successful experience and in view of financial markets’ volatility, the Board of Directors entrusted the Company management with exploring the option of acquisition of up to 2% of the Company shares on the open market.