Norilsk Nickel has released previously confidential information relating to its ore reserves and mineral resources.

This is a new step for the mining and metallurgical company and the figures were collated following a detailed independent audit carried out by Micon International.

The audit looked at deposits contained at Norilsk Nickel's Polar Division on the Taimyr Peninsular and was aimed at increasing transparency within the company, as well as establishing the strength of its reserves.

Figures showed that proved and probable ore reserves in the area contained 62 million ounces of palladium and 16 million ounces of platinum, while combined head grades for the major underground operations varied from 5.5 grams per tonne to 11.1 grams per tonne.

Responding to the audit, Tay Morgan, deputy general director of the company, said that he was pleased with the process and with the decision to disclose the information.

"This is an important step in our focused efforts to promote disclosure of our reserves and it provides the transparency expected by our investors, customers, and the broader mining community," he commented.

"They now have the opportunity to fully appreciate the competitive strength and longevity of our mineral asset base."

Ÿ Adfero Ltd