Investor Presentaiton
2012 Cash Costs Breakdown
Cash costs before by-product credits remained flat at
$5 billion y-o-y as a result of cost control measures,
lower expenses on raw materials and rouble
depreciation against US dollar
Labour costs slightly increased by $ 24 mln (2%) y-o-
y driven mainly by inflation-related adjustments for
salaries and wages
Consumables and spares are up by 13% y-o-y
Labor
$1,488 mln
($ 152 mln) due to increased purchases for repairs
and maintenance and relaunch of operations at Lake
Johnston
Acquisition of raw materials & semis decreased by
23% y-o-y and amounted to $918 mln due to
decrease in volumes and LME prices for metals
Cash costs of Russian operations and Harjavalta
continue to dominate in the cost structure accounting
for 94%
Consumables &
Spares
$1,309 mln
30%
26%
18%
$ 5,040 mln
2%
3%
4%
5%
Other
$109 mln
Transportation
$156 mln
Taxes
$193 mln
13%
Utilities
$216 mln
NORILSK NICKEL
Source: Company data
Acquisition of raw
materials & semis
$918 mln
3d parties services
$651 mln
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