MOSCOW, 24 July. /TASS/. In the first half of 2023, Nornickel reduced its nickel output by 9% year-on-year to 91,000 metric tons in connection with the planned repair work on furnaces at the Nadezhda metallurgical plant, as well as a mill at the Talnakh concentrator in the Q1, the company said on Monday.

The volume of palladium production increased by 5% to 1,482 troy ounces, platinum - by 15% to 367,000 troy ounces, copper production remained at the level of 203,000 tons.

In Q2, the company reduced its nickel output by 4% compared to the previous quarter to 45,000 metric tons. Palladium production increased by 6% quarter-on-quarter to 761,000 ounces. Platinum production increased by 4% to 187,000 ounces, copper - decreased by 13% to 95,000 metric tons.

In the first half of the year, the output of palladium and platinum increased by 5% to 1,482 ounces and by 15% to 367,000 ounces, respectively.

Nornickel also confirmed the forecast for the production of metals from Russian raw materials within the previously announced range for 2023.

"In 1H 2023 the output of all key metals demonstrated mixing flow dynamics. We increased the production of platinum group metals by increasing ore output at Medvezhiy Ruchey mine, improving the efficiency of additional extraction of precious metals from chlorine leaching residuals at the nickel refining shop at Kola Division, as well as processing previously accumulated work-in-progress materials.

At the same time, nickel production decreased due to annual seasonal factor - the internavigational season in the port of Dudinka, as well as scheduled repairs of furnaces at Nadezhda Smelter and a grinding mill at Talnakh Concentrator.

One of the achievements of the first half of the year was the improvement in the quality of nickel cathodes produced in Kola division, with the content of impurities reduced by 40% compared to the level of 2022. At the same time, thanks to the operational efficiency improvement program, Trans-Baikal Division increased the volume of processing and extraction metals," Senior Vice-President - Operational Director Sergey Stepanov commented on the production results.

Nornickel 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 and other products. The main production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia. The company’s shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges.