The following excerpt by General Director, Chairman of the Management Board Denis S. Morozov is from the OJSC MMC Norilsk Nickel 2007 Social Report which is available at: Norilsk Nickel 2007 Social Report
OJSC MMC Norilsk Nickel is pleased to present the social report for 2007 which represents another step forward by the company in disclosing information regarding various aspects of its operations and activities concerned with sustainable development. At the core of our development strategy and our everyday business is the belief that consistent observance of social responsibility principles is a prerequisite for sustained and effective development of business.
In 2007, the Company continued the successful implementation of the adopted development strategy, modernised the existing production facilities, provided for further development of the unique resource base and entry to the Russia’s new regions.
In 2007, the Company significantly expanded the geography of its operations. OJSC MMC Norilsk Nickel successfully completed the transaction to acquire nickel business of OM Group Inc. and consolidated 100% shares of LionOre Mining International Ltd.1
The purchase of LionOre is the largest foreign acquisition in the history of Russian business. Today, MMC Norilsk Nickel is a leader of international metal markets with excellent outlook for further development.