Denis Morozov, a deputy general director of Norilsk Nickel, one of the world's largest precious and non-ferrous metal producers that accounts for over 20% of the world's nickel output and over 10% of cobalt and 3% of copper, said the company's capital investment was planned at $820 million in 2006 compared with $751 million in 2005.
Of this amount, $614 million will go to maintain and $205 million to expand the company's production capacities, he said.
"Until 2010, we plan to invest in the company's development, after which investment will slightly decrease to maintain only production capacities," Morozov said.
He said annual investment is planned at the level of $450-$500 million starting from 2010.
Norilsk Nickel produces 96% of Russia's nickel, 55% of its copper and 95% of its cobalt.
