Norilsk Nickel believes platinum output at its two domestic operations will increase by seven per cent over the course of 2010.

The Russian giant revealed that it expects to produce approximately 20.3 tonnes of the precious metal at its Polar Division and Kola Mining Metallurgical Company units.

Furthermore, it expects palladium production to rise by between four and five per cent from the 80.8 tonnes figure it is anticipating for 2009.

Nickel output should be no less than 234,000 tonnes, compared with last year's predicted 232,000 tonnes, while copper production is tipped to be 4.6 per cent lower than the 2009 total of 381,000 tonnes.

Norilsk also revealed that its 2010 budget has been approved by its directors, with an expected $8 billion in sales revenues predicted to be achieved at the two domestic operations.

Last month, the company suggested that its overall platinum and palladium output is likely to remain flat this year on an annual basis.

Norilsk, which is the world's largest producer of both palladium and nickel, enjoyed revenue of $11.8 billion in 2008.

Source:

Russian Norilsk sees 2010 domestic revenues at $8 bln (24/12/09)

© Adfero Ltd