MOSCOW, January 28. /TASS/. Norilsk Nickel expects that platinum group metals production will decline in 2026 because of the change of the metals ratio in the structure of the processed feedstock, First Vice President Evgeny Fyodorov said, cited by the Russian mining and metals company.
"We expect a certain drop in platinum group metals production in 2026 in connection with the change of the metals ratio in the processed feedstock structure," he said.
The company forecasts that palladium production will stand at about 2.415-2.465 mln ounces. Platinum production will range from 616,000 to 636,000 ounces. Nickel production may reach 193,000 - 203,000 metric tons. Copper output (not including Trans-Baikal Division) is predicted to be 336,000 - 356,000 metric tons this year.
Norilsk Nickel sees the production decline in annual terms but it is important to understand the nature of this process, Fyodorov told reporters. "We are in the transition to processing impregnated ore with the lower metal grade. It is a natural lifecycle of deposits: to extend the life of mine for decades, it is necessary to extract not merely high-grade ore but also impregnated with the relatively lower grade of useful components. It is economically justified in the long run," he added.