Norilsk Nickel has raised projected annual output of palladium and platinum in its third-quarter trading update.

The Russian metals giant announced that output of palladium is set to stand at between 3.05 million ounces and 3.10 million ounces during the period.

Previously, Norilsk had anticipated a figure of between three million ounces to 3.05 million ounces.

Meanwhile, production of platinum will climb to between 730,000 oz to 740,000 oz, the firm has announced - up from an initial estimate in the range of 700,000 oz and 710,000 oz.

During the third quarter, saleable palladium production hit 804,000 oz at the company's Polar and Kola Divisions and Norilsk Nickel Africa, bringing total production volume at the operations to 2.352 million ounces.

Third-quarter production of platinum at the same operations hit 189,000 oz, taking interim production to 558,000 ounces.

The projected volumes do not include production figures of Stillwater Mining Company.

News of Norilsk's performance comes amid speculation that Russian billionaire Mikhail Prokhorov's ONEXIM Group has acquired a 25 per cent stake in the miner and is seeking a buyer for it.

Source:

Norilsk boosts metals output, raises 2007 forecast, 12/10/07
http://www.reuters.com/article/companyNewsAndPR/idUSL125149820071012

MMC Norilsk Nickel announces production figures for 3rd quarter 2007, 12/10/07
http://www.nornik.ru/en/press/news/2221/


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