Brazil’s football star Carlos: Germany, Portugal to meet in 2017 Confederations Cup finalSport March 24, 20:45
Belarus to stamp on any conflict unleashed as in Ukraine, president saysWorld March 24, 19:41
Russia to stage best ever edition of FIFA Confederations Cup this year — Brazil’s CarlosSport March 24, 19:28
Jehovah’s Witnesses say they have no suspension orders from Justice Ministry yetSociety & Culture March 24, 19:10
Islamic State claims responsibility for attack on National Guard base in ChechnyaWorld March 24, 18:51
Eurovision organizers set to find solution for Russia's contestant to perfom in KievWorld March 24, 18:46
Russia’s Airborne Force wraps up large-scale drills in CrimeaMilitary & Defense March 24, 18:20
Russia may start Ka-52 attack helicopter deliveries to Egypt in 2nd half of yearMilitary & Defense March 24, 17:21
Ex-Russian MP’s suspected assassin’s ‘double’ pops up in UkraineWorld March 24, 16:59
MOSCOW, February 6. (ITAR-TASS). Russia will not stop exporting palladium, but its supplies will be limited, said Anton Berlin, director of the marketing department of "Norilsk Nickel" to the reporters. He explained that the production of palladium by "Norilsk Nickel" continues, but that "consumption (in Russia) is not so widespread, so for the most part the metal continues to be exported." "Probably it would be right to discuss the suspension of the its exports from the government's reserves," - he said.
According to Berlin, the decline in exports is caused by the fact that its supplies from the Russian Federation are "limited by the production of our company." "Therefore, the total combined volume is definitely lower," - he said.
"Norilsk Nickel's" marketing director did not rule out the possibility of having a deficit of palladium on the world market, which is determined not by reserves, but by the production capacity. He attributes this to the long investment cycle in the mining industry. "In order to run the mine, you need a minimum of 7 years, but in real life more like 10-15 years. Because it lies under the ground at a depth of 2 km, it can not be supplied to the market, - said Berlin. - First, it must be extracted , then prosessed, metal should be produced, and this takes years and and billions in investment. "
Berlin said that currently "Norilsk Nickel" is the largest producer of palladium in the world, Russia accounts for about 40 percent of the world's production of this metal.