The closure of the metallurgical shop will affect about 700 employees of Kola MMC and Pechengastroy. The company is implementing a targeted training and requalification programme worth over 800 mln RUBto support the employees, of which two-thirds have already been reassigned. ABOUT THE COMPANY MMC Norilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur, and other products. The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and South Africa. MMC Norilsk Nickel shares are listed on the Moscow and Saint-Petersburg stock exchanges. ADRs are traded over the counter in the U.S. and on the London, Berlin and Frankfurt stock exchanges.