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Norilsk Nickel cuts nickel production by 10% in Q1 2024

The decline in nickel production was temporary and was due to the increase of goods in process that will be processed in the second quarter

MOSCOW, April 22. /TASS/. Norilsk Nickel slashed nickel production by 10% year on year to 42,000 metric tons in the first quarter of 2024, the Russian mining and metals company said.

Palladium production edged up by 3% in the first quarter to 745,000 Troy ounces. Platinum production lost 1% to 178,000 Troy ounces. Copper production ticked up by 1% to 110,000 metric tons.

The decline in nickel production was temporary and was due to the increase of goods in process that will be processed in the second quarter. The increase in palladium production was driven by producing metals with the high degree of readiness from unfinished goods, the company said.

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