Norilsk Nickel Announces Results

Norilsk Nickel, Russia's largest nickel producer, reported that its nickel output in the third quarter of 2014 was about 71,000 tons, which is almost 17 percent higher than production in the second quarter of 2014. The increase in production volumes occurred after the completion of repair work at the Polar Division and an increase in the supply of raw materials. However, the output of nickel in the third quarter decreased, compared to the same period last year by 1.8 percent, when the output was 72,422 tons.

The company produced 199,800 tonnes of nickel in the first nine months of this year, down almost 5.7 percent from the same period in 2013. The decrease in production was mainly due to the planned overhauls at the NMP and the reduction in the supply of raw materials in the first half of the year, as well as the reduction in operations at the Kola MMC due to their low profitability.

The company also reported third-quarter copper production of about 89,200 tonnes, down 4.8 percent from the second quarter, driven by equipment maintenance and lower sales. Meanwhile, the company announced that total nickel production in the Russian region was 57,000 tonnes in Q3.

During the nine months of 2014, copper output amounted to 273,300 tons, down 1.7 percent compared to the same period in 2013. This is due to a decrease in the volume of processing of imported raw materials at the Kola Combine.