North Korea test fires another missileWorld May 29, 1:29
Russia’s Zvyagintsev wins Jury Prize at 70th Cannes Film Festival with his LovelessSociety & Culture May 28, 21:32
Three Russian tourists hurt is road accident with tourist minibus in TurkeySociety & Culture May 28, 18:58
Some 40,000 cyclists taking part in Moscow cycle paradeSociety & Culture May 28, 18:33
Corporation Irkut: MS-21 first flight performed in routine modeBusiness & Economy May 28, 16:54
Ukrainian military launch more than 180 shells, mines on Donetsk within one dayWorld May 28, 16:36
Minister: Russia may supply 1,000 MC-21 planes to 2037Business & Economy May 28, 14:42
Lavrov: China, ASEAN interested in organization of Eurasian partnershipRussian Politics & Diplomacy May 28, 11:45
MC-21 airliner makes first test flight - sourceBusiness & Economy May 28, 11:00
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.