Norilsk Nickel is one of the world's largest precious and non-ferrous metal producers, accounting for more than 20% of the world's nickel output, and over 10% of cobalt and 3% of copper. The company produces 96% of Russia's nickel, 55% of its copper and 95% of its cobalt.
"All enterprises worked stably, the company fulfilled its metals production plan for 2006 and the output volumes that have been achieved met management's expectations," the metals giant said in a news release.
In 2006, Norilsk Nickel produced 3.164 million ounces (98.4 metric tons) of palladium, compared with 3.133 million ounces, or 97.4 metric tons, in 2005, and 752,000 ounces (23.4 metric tons) of platinum, compared with 751,000 ounces, or 23.4 metric tons in 2005, the company said.
"Increased output is due to higher metals recovery and lower PGM [platinum group metals] work in process," Norilsk Nickel said.
In 2007, Norilsk Nickel intends to produce 240,000-245,000 metric tons of nickel, 3-3.05 million ounces (93-95 metric tons) of palladium and 700,000-710,000 ounces (about 22 metric tons) of platinum, the company said.
"Lower 2007 expected production volumes, in comparison with 2006 actual production figures, result from large-scale reconstruction work, in accordance with the company's production strategy," the news release said.
