Norilsk Nickel posted platinum and palladium production rises for the period between January and September, it has been confirmed.

The Russian metals giant revealed that platinum output increased by nine per cent on a year-on-year basis to 531,000 oz, while palladium production was up by eight per cent to 2.2 million ounces.

Norilsk forecasted that it will post platinum production of between 655,000 oz and 660,000 oz from its Russian operations and between 35,000 oz and 40,000 oz of concentrate and products from elsewhere.

In addition, it is expecting to produce 2.72 million ounces of palladium from its domestic facilities, with between 140,000 oz and 150,000 oz being recorded at its foreign assets.

The company also announced that nickel output increased by six per cent to 220,000 tonnes in the January to September period, while copper production was flat at 295,000 tonnes.

Norilsk, which is controlled by warring billionaires Oleg Deripaska and Vladimir Potanin, is the world's largest producer of both palladium and nickel.

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Norilsk Jan-Sept palladium, platinum output up (29/10/10)

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