Norilsk sees '12 nickel, palladium output flat

Monday, 30 January 2012 13:06

MOSCOW: Russia's Norilsk Nickel, the world's largest producer of nickel and palladium, said on Monday that it expects output of nickel to be flat or slightly higher this year, while palladium, platinum and copper could show a small decline.

The world's largest nickel and palladium producer expects nickel output at 235,000-240,000 thousand tonnes at its Russian divisions and 60,000-65,000 at the international operations. Last year's output was 295,000 tonnes, off 0.8 percent from 2010.

Palladium output is expected between 2.6-2.65 million ounces at the Russian divisions and 95,000-100,000 ounces at the international operations. Last year's total output was 2.81 milion ounces, off 2 percent from 2010.

Platinum output is seen between 650,000-660,000 ounces at the Russian division this year, while the international operations are expected to mine 20,000-25,000 ounces. Last year's output was 695,000 ounces, matching the 2010 result.

This year's copper output is seen between 355,000-360,000 tonnes at the Russian division, while the international operations are expected to mine 9,000-10,000 tonnes. Last year's output was 378,000 ounces, off 3 percent from 2010.