In the first quarter of 2025, Norilsk Nickel reduced nickel production by 1% to 42 thousand tons compared to a year earlier. The decrease occurred due to planned preventive repairs of furnaces at the Nadezhdinsky Metallurgical and Copper Plants, as well as mills at the Talnakh processing Plant. Almost the entire volume of metal was produced from its own raw materials — 41.6 thousand tons, the company said.
The group's copper production (including the Zabaikalsky division) did not change and amounted to 109 thousand tons. All copper was produced from the company's own raw materials.
The Zabaikalsky division increased its copper concentrate production by 1% to 18 thousand tons as a result of the implementation of the production efficiency improvement program, which increased ore processing at the processing plant.
Palladium production decreased by 0.6% to 741 thousand ounces, while platinum, on the contrary, increased by 0.6% to 180 thousand ounces, due to a change in the ratio of metals in processed raw materials. All the metal was produced from the company's own raw materials.
MMC Norilsk Nickel is a diversified mining and metallurgical company that is the world's largest producer of palladium and high—quality nickel, as well as platinum, copper, cobalt, silver, gold, and iridium. MMC Norilsk Nickel's production units are located in the Norilsk Industrial District, the Kola Peninsula and the Trans-Baikal Territory in Russia, as well as in Finland. The company's shares are listed on the Moscow and St. Petersburg Stock Exchanges.
Norilsk Nickel's net profit under IFRS for 2024 fell by 37% to $1.8 billion from $2.87 billion a year earlier. Revenue decreased by 13% to $12.5 billion from $14.4 billion, and EBITDA decreased by 25% to $5.19 billion from $6.88 billion.
