Norilsk Nickel reports decline in output of all its primary metals during H1 2020 year-over-year

Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces preliminary consolidated production results for the second quarter and the first half of 2020.

NORNICKEL GROUP

Nickel
In 1H2020, total nickel output decreased 2% year-on-year (y-o-y) to 108 kt, almost all of which were produced from the Company’s own Russian feed (107 kt, -1% y-o-y). The decline was attributed to hot commissioning of a refining shop using new chlorine leaching technology at Kola MMC.

In 1H2020, carbonyl nickel output increased 41% y-o-y to 3.2 kt.

Copper
In 1H2020, total copper output decreased 5% y-o-y to 240 kt, almost all of which were produced from the Company’s own Russian feed. The decline was attributed to lower processing volumes of concentrate purchased from Rostec in comparison to 1H2019, as well as a decrease of copper production at Kola MMC due the short-term reduction of capacity utilisation rate of its smelting operations owing to unfavorable meteorological conditions in order to reduce
environmental impact.

Bystrinsky Project was ramping up on schedule, having increased production of copper in concentrate by 49% y-o-y to 30 kt.

Platinum Group Metals
In 1H2020, palladium and platinum output amounted to 1,270 koz (-17% y-o-y) and 323 koz (-17% y-o-y), respectively. The decrease of PGMs was attributed mostly to a high base effect of 1H2019, when Krasnoyarsk Precious Metals Plant processed earlier accumulated work-in-progress inventory.

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 on the Saint-Petersburg Stock Exchanges, ADRs are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.

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