Russia's Nornickel boosts output of all key metals

28th July 2022

By: Reuters


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MOSCOW - Russian metals producer Nornickel's first-half nickel and palladium output rose year on year thanks to returning production two mines hit by flooding in 2021, the company said on Thursday.

Nornickel, the world's largest producer of palladium and refined nickel, kept its previous 2022 output forecast unchanged despite difficulties posed by Western sanctions against Moscow over Ukraine.

"One of the key risks that might affect our production plans remains the supply disruption of high-performance equipment and spare parts," COO Sergey Stepanov said in a statement.

The miner is exploring the ability of domestic companies to supply materials and equipment to meet the needs of Nornickel and other large companies in Russia, he added.

Nornickel's January to June nickel production rose by 26% year on year to 99 951 t, while copper output was up 18% at 203 930 t.

Output of platinum group metals was also higher, with palladium up 8% at 1.4-million troy ounces while platinum production rose by 1% to 321 000 oz.

Edited by Reuters


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