Norilsk Nickel saw its platinum production increase in the first quarter of 2010, it was confirmed today (29th April).

The Russian giant revealed that company-wide output of the precious metal was 160,000 oz, compared to the figure of 141,000 oz for the equivalent period in 2009.

In addition, palladium production rose from 590,000 oz to 690,000 oz, while copper output was up from 95,714 tonnes to 96,574 tonnes and nickel production jumped from 69,357 tonnes to 70,180 tonnes.

Through its domestic Polar and Kola divisions, Nickel produced 154,000 oz of platinum, compared to 132,000 oz in Q1 2009, with palladium output rising from 557,000 oz to 656,000 oz.

"These results are in line with approved budget plans and annual production guidance of the company," said Norilsk in a statement.

The firm also revealed that platinum output at its Finnish operations declined from 3,000 oz to 2,000 oz, with palladium production improving from 1,000 oz to 9,000 oz.

Norilsk, which is the world's largest nickel and palladium producer, did not include any figures from its US-based subsidiary, Stillwater Mining Company.

Source:

MMC NORILSK NICKEL ANNOUNCES PRELIMINARY CONSOLIDATED PRODUCTION RESULTS FOR 1ST QUARTER 2010 (29/04/10)

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