Norilsk Nickel has reported a five per cent year-on-year increase in platinum production during the first quarter of 2011.

The company produced 170,000 troy ounces of the metal, driven largely by its Russian divisions, which mined an additional 10,000 oz.

Some 164,000 oz of platinum was produced by its Russian facilities in the first quarter of 2011, compared to 154,000 oz in the first three months of the previous year.

Norilsk, which is the world's largest producer of nickel and palladium, was announcing production results for its operations at the Polar and Kola Divisions in Russia, as well as for international operations in Finland, Botswana and South Africa.

Palladium output fell slightly to 681,000 troy ounces for the quarter, which it said was down to a small decrease in production by its African operations.

Over the same period, the production of palladium at the Polar and Kola Divisions remained flat compared to the first quarter 2010, totalling 652,000 oz.

Source:


Norilsk 1Q Russia Platinum Output Up 75 At 164,000 Oz (28/04/11)

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