Norilsk Nickel raises forecast for 2024 nickel production 6%, for palladium 13%

MOSCOW. Oct 28 (Interfax) - Norilsk Nickel has raised its forecast for metal production from Russian raw materials for 2024 on account of the rapid completion of repairs to its flash smelting furnace at Nadezhda Metallurgical Plant, the company said.

The company expects to produce 6% more nickel, 1% more copper and 13% more palladium than it originally planned.

The new forecast for nickel stands at 196,000-204,000 tonnes instead of 184,000-194,000 tonnes.

The forecast for copper is 337,000-357,000 tonnes instead of 334,000-354,000 tonnes, plus 64,000-68,000 tonnes of concentrate from its Trans-Baikal division.

The forecast for palladium production is 2.624 million to 2.728 million ounces instead of 2.296 million to 2.451 million ounces.

The forecast for platinum is 639,000-664,000 ounces instead of 567,000-605,000 ounces.