Norilsk Nickel confirmed yesterday (30th April) that its platinum production increased by 2.2 per cent to 141,000 oz during the first quarter of 2009.

The world's largest nickel and palladium producer also revealed that its palladium output fell by 1.2 per cent to 590,000 oz, while copper production was down eight per cent to 95,714 tonnes.

Furthermore, the company announced that overall saleable nickel output was 69,357 tonnes, representing a decline of seven per cent from the 75,000 tonnes recorded 12 months earlier.

The majority of its output over the period occurred at its Polar and Kola divisions in Russia, where palladium production was 556,000 oz and platinum production hit 132,000 oz.

Its operations in Finland yielded 1,000 oz of palladium and 3,000 oz of platinum, while 32,000 oz of palladium and 6,000 oz of platinum were produced at its Black Swan and Cawse projects in Africa.

"The [nickel output slump] is explained by the placement of Australian assets on care and maintenance, decline in nickel production at the Harjavalta refinery in Finland and by the minor decrease in nickel production at the Russian operations due to accumulation of intermediaries at the Kola Division," the company said.

Norilsk also noted that the figures do not include production by Stillwater Mining Company, its US subsidiary.

Sources:

MMC NORILSK NICKEL SALEABLE METALS PRODUCTION (30/04/09)

MMC Norilsk Nickel announces preliminary consolidated production results for 1st quarter 2009 (30/04/09)

UPDATE 1-Russia's Norilsk Q1 09 nickel, palladium output fall (30/04/09)

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