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Norilsk Nickel reduced 9-month nickel production by 11%

In January-September 2017, PJSC MMC Norilsk Nickel reduced nickel production by 11% year-on-year to 157.1 thousand tonnes, the company informed.

Copper production increased by 10% to 290,874 tonnes.
In January-September, Norilsk Nickel produced 2.026 million troy ounces of palladium (+ 2% year-on-year) and 493 koz of platinum (no change year-on-year).

"Copper production in the reported quarter decreased as a result of temporary suspensions of our smelting operations at the Copper Plant due to unfavorable weather conditions in Norilsk. The company plans to process accumulated concentrate in the fourth quarter, which should fully compensate for the reduction of copper volumes in the third quarter. We reiterate our 2017 metal production guidance," First Vice-President of Norilsk Nickel Sergey Dyachenko commented on the 9-month production results.

PJSC MMC Norilsk Nickel (tax number: 8401005730) is Russia's largest diversified mining and metallurgical company, the world's leading producer of nickel and palladium and one of major platinum, rhodium, copper and cobalt producer. Besides, the company produces a wide range of by-products including gold, silver, tellurium, selenium, iridium and ruthenium. The mining and processing assets of the MMC Norilsk Nickel group are located in the Norilsk industrial area, the Kola Peninsula as well as Finland, USA, Australia, Botswana, and RSA.

IFRS net profit of Norilsk Nickel for H1 2017 decreased by 30% to $915 million from $1.304 billion. Consolidated revenue increased by 11% to $4.2 billion, primarily due to an increase in prices across the basket of metals. EBITDA decreased by 3% to $1.7 billion.

"AK&M", 30.10.2017 14:22


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