Norilsk Nickel secures PGM contract with BASF
MOSCOW. Jan 27 (Interfax) - Norilsk Nickel and German chemical company BASF have signed "a large-scale long-term PGM chemicals supply contract," the Russian mining giant announced on Monday.
Norilsk Nickel will deliver the PGM chemicals to BASF's production facilities in Europe for use in production of auto catalysts, which lower pollutant emissions, as well as in chemical and pharmaceutical products.
Norilsk Nickel did not specify the scale of the contract.
Norilsk Nickel is the world's largest producer of palladium, with an 18% share of the global market. Palladium and platinum generate respectively 16% and 9% of the company's revenue.
Norilsk Nickel produced 2.049 million ounces of palladium in the first nine months of 2013, 1% less than in the same period of 2012. Platinum production dropped 4% year-on-year to 503,000 ounces in the nine months.
