Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces preliminary consolidated production results for the first quarter of 2023 and full year 2023 production outlook.
Senior Vice-President – Operational Director, Sergey Stepanov commented on the production results,
“In 1Q 2023, we increased the output of copper and PGMs compared to the same period of last year. The temporary decrease in nickel production was scheduled due to short-term repairs of furnaces at Nadezhda Smelter and a grinding mill at Talnakh Concentrator. Scheduled repairs are carried out regularly with an aim to maintain operations of the main technological units uninterrupted.
I would like to highlight a significant improvement of the quality of our nickel cathodes produced in Kola Division due to the improvement of operational efficiency. The content of cobalt and copper and zinc impurities in nickel cathodes decreased by almost 40% and 50%, respectively, compared to the previous year levels.
Taking into account all the initiatives, which have been rolled out to minimize the negative impact of the recently emerged logistical and operating risks, associated with the supply disruption of high-performance equipment and spare parts, we reiterate our previously announced production guidance from own Russian feed for FY2023″.
Source: Market Screener