Norilsk Nickel cuts nickel output 5% in 2013, further drop possible in 2014
MOSCOW. Jan 31 (Interfax) - MMC Norilsk Nickel reduced nickel output 5% in 2013 to 285,292 tonnes, the Arctic mining and smelting giant said in a statement.
Output grew 1.5% quarter-on-quarter in Q4 2013 to 73,485 tonnes.
Copper production rose 2% in 2013 to 371,000 tonnes, above the company's own forecast of 358,000 tonnes.
Norilsk Nickel produced 93,000 tonnes of copper in Q4, 0.6% more than in Q3 2013.
The company also produced 2.661 million oz of palladium last year, 3% less than in 2012, and 651,000 oz of platinum, 5% less.
The company aims to produce 225,000-235,000 tonnes of nickel at its Russia-based assets this year. Output could fall due to the scheduled overhaul of a furnace at its Nadezhda Metallurgical Plant.
The Russian assets produced 231,000 tonnes of nickel last year. Norilsk Nickel also produces nickel in Australia and Africa.
The lower end of the 2014 guidance would represent a 3% drop in output compared with 2013.
The outlook for palladium production this year is 2.53-2.55 million oz and that for platinum - 625,000-635,000 oz.
