Norilsk Nickel has reported a fall in palladium production in the first nine months of 2011 compared to the same period a year ago.

Palladium output decreased by 5.1 per cent to 2.1 million ounces between January and September, the firm said in a statement.

Norilsk produced 677,000 troy ounces of palladium in the third quarter of the year, which it said had been impacted by "substantial overproduction" by its Russian divisions in the second quarter, as well as by a decline in output at its international operations.

The world's largest nickel and palladium producer also reported that Q3 platinum output was "generally in line with the approved production plan" at 171,000 troy ounces.

For the first nine months of 2011, platinum production reached 531,000 oz, matching the results of the same period of 2010.

Its Russian divisions accounted for 513,000 oz of platinum for the nine-month period, which exceeded the approved production plan.

Source:

UPDATE 1-Russia Norilsk 9-mo nickel, palladium output down (24/10/11) 

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