Nornickel will reduce nickel production by 2% in 2021, but will increase platinoid production by 3.3%

"Norilsk Nickel" will reduce nickel production by 2% in 2021, but will increase platinoid production by 3.3% Next year "Norilsk Nickel (MCX: GMKN)" will reduce the production of nickel by 2% - to 220-230 thousand tons, will increase the production of platinoids by 3.3% - to 105-111 tons, follows from the company's presentation.

In 2020. "Norilsk Nickel" will produce 225-235 thousand tons of nickel and 103-106 tons of platinoids (2.648-2.777 million ounces of palladium and 611-675 thousand ounces of platinum).

The decrease is explained by the scheduled maintenance of furnaces at the Nadezhda Metallurgical Plant.

Copper production next year, excluding Bystrinsky GOK, will fall by 7% - to 390-410 thousand tons.

Bystrinsky GOK indicators for 2020 increased - it is planned that 60-63 thousand tons of copper and 236-241 thousand ounces of gold in concentrate will be produced at this site (instead of 55-65 thousand tons of copper and 220-240 thousand ounces gold). In 2021, Bystrinsky will produce 65-70 thousand tons of copper and 230-240 thousand ounces of gold.

In 2022-2023. "Norilsk Nickel" plans to produce 215-225 thousand tons of nickel, 100-110 tons of platinoids and 380-410 thousand tons of copper.