DAX®13.786,29-0,67%TecDAX®3.346,40-0,65%Dow Jones 3030.932,37-1,50%Nasdaq 10012.909,44+0,63%
finanztreff.de

NORNICKEL ANNOUNCES CONSOLIDATED PRODUCTION RESULTS FOR 9 MONTHS OF 2020

| Quelle: Dow Jones Newsw... | Lesedauer etwa 8 min. | Text vorlesen Stop Pause Fortsetzen


MMC Norilsk Nickel (MNOD)
NORNICKEL ANNOUNCES CONSOLIDATED PRODUCTION RESULTS FOR 9 MONTHS OF 2020

19-Oct-2020 / 13:00 MSK
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Public Joint Stock Company «Mining and Metallurgical Company «NORILSK
NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")

NORNICKEL ANNOUNCES CONSOLIDATED PRODUCTION RESULTS FOR 9 MONTHS OF 2020

Moscow, 19 October, 2020 - Nornickel, the world's largest producer of
palladium and high-grade nickel and a major producer of platinum and copper,
announces preliminary consolidated production results for the third quarter
and nine months of 2020.

First Vice-President, Chief Operating Officer, Sergey Dyachenko commented on
the production results:

«I would like to reiterate that reduction of environmental footprint remains
our strategic priority and we continue our efforts to cardinally improve the
ecological situation in the regions of our operations.

In the Kola division, we are planning to shut down smelting facilities by
the end of this year, that should lead to a dramatic reduction of sulfur
dioxide emissions. In addition, we are launching modernization of copper
production, moving to a more eco-friendly 'roasting-leaching-electrowinning'
technology and also increasing capacity to 200 ktpa of copper.

The Company has already achieved a material progress in the clean-up of the
fuel spill incident in Norilsk. Currently, we have completed the collection
of contaminated soil from the area around the HPP-3 and started the
rehabilitation of the damaged land and vegetation, which continued until the
first snowfalls. All the water-fuel mixture, which was collected from the
Ambarnaya river, has been pumped using a temporary pipeline to a site at
Norilsk and afterwards separated into industrial water and fuel. This
industrial water will be used in our operations. We have also installed new
sorbent booms at the Ambarnaya river, which will be replaced after ice
melting in the spring of 2021.

Nornickel is continuing its analysis of the most efficient technological
solutions to recycle the contaminated soil and to restore the disturbed
ecosystem in close cooperation with all stakeholders.

Great Norilsk Expedition comprised of 30 scientists form 14 leading research
institutes of the Siberian Branch of Russian Academy of Sciences has
completed its fieldwork in Norilsk region. After carrying out an analysis of
samples of water, soil and living organisms collected in the region, the
scientists will publish a report providing an independent assessment of the
fuel spill impact on environment and recommendations for most efficient
rehabilitation of the disturbed area.

I would like to emphasize that our fight against the spread of the COVID-19
is ongoing and that the Company is taking maximum precautions to protect the
health and safety of its employees [1]. The situation is kept well under
control and has not had any material impact on our operations.

In the third quarter, nickel and palladium output increased 8%
quarter-on-quarter owing to the scheduled ramp-up of the new chlorine
leaching technology at our Kola nickel refining shop. At the same time, PGMs
production at Kola division increased by more than 30%.

Nickel production in 9 months of 2020 was unchanged year-on-year, while
copper and PGMs output were somewhat lower. Reduction of PGMs production was
due to a high base effect of 9M2019, when large volumes of earlier
accumulated work-in-progress inventory were processed, while copper output
decreased due to lower processed volumes of concentrate, which was purchased
from Rostec, due to depletion of its stockpile.

At the same time, Bystrinsky GOK continued to ramp-up to its designed
capacity, having increased production of copper in concentrate by almost 50%
year-on-year.

Taking into account the nine months operating results, the Company has
everything in place to meet is guidance for FY2020».

NORNICKEL GROUP

Nickel

In 3Q2020, consolidated nickel production increased 8% quarter-on-quarter
(q-o-q) to 60 kt, almost all of which were produced from the Company's own
Russian feed (59 kt, +7% q-o-q). The growth was attributed to the gradual
ramp-up of nickel refinery at Kola MMC using new chlorine-leaching
technology and production of nickel concentrate for sale.

In 9M2020 , total nickel output was almost flat year-on-year (y-o-y)
amounting to 168 kt, with almost all of which produced from the Company's
own Russian feed (166 kt, +1% y-o-y).

In 9M2020, as part of strategic diversification of sales into premium
products, Nornickel increased carbonyl nickel production 34% y-o-y to 3.6
kt.

Copper

In 3Q2020, consolidated copper production decreased 5% q-o-q to 119 kt,
almost all of which were produced from the Company's own Russian feed. The
decline was driven primarily by scheduled repairs at Talnakh concentrator in
Polar Division.

In 9M2020, total copper output decreased 4% y-o-y to 359 kt, with almost all
of which produced from the Company's own Russian feed. The decline was
attributed to changes in saleable product mix, reallocation of copper
intermediates within the Company's divisions and lower processed volumes of
concentrate, which was purchased from Rostec, comparing to the previous
year.

Bystrinsky GOK continued its ramp-up, having increased the output of copper
in concentrate by 48% y-o-y to 46 kt.

Platinum Group Metals

In 3Q2020, palladium and platinum output amounted to 783 koz (+8% q-o-q) and
190 koz (+10% q-o-q), respectively. The increase of PGM output was mostly
driven by the start of processing of chlorine-leaching residues in-house at
Kola Division (instead of the previous temporary arrangement, whereby they
used to be shipped for processing to Polar division) following the ramp-up
of new refining capacities at Kola MMC.

In 9M2020, palladium and platinum output amounted to 2,053 koz (-9% y-o-y)
and 513 koz (-7% y-o-y), respectively. The decrease of PGMs was attributed
mostly to a high base effect of 9M2019, when Krasnoyarsk Precious Metals
Plant processed earlier accumulated work-in-progress inventory.

RUSSIAN OPERATIONS

In 9M2020, all saleable metals were produced by the Company's Russian
operations from their own feed.

Nickel

In 3Q2020, nickel output at Kola MMC increased 21% y-o-y to 48 kt. The
increase was attributed to the scheduled ramp-up of nickel refinery at Kola
MMC operating new chlorine-leaching technology as well as higher production
of nickel concentrate for sale. In 9M2020, Kola MMC increased its nickel
output by 1% y-o-y to 122 kt, which included 10 kt of nickel in concentrate
for sale (an increase of 128% y-o-y).

Copper

In 3Q2020, copper output at the Company's operations in Russia amounted to
118 kt (-4% q-o-q). The decreased was mostly driven by scheduled repairs at
Talnakh concentrator.

In 9M2020, total copper output decreased 1% y-o-y to 357 kt. The minor
decline was attributed to changes in saleable product mix, reallocation of
copper intermediates within the Company's divisions and lower processed
volumes of concentrate, which was purchased from Rostec, comparing to the
previous year.

Bystrinsky Project increased its copper in concentrate production by 48%
y-o-y to 46 kt.

Platinum Group Metals

In 3Q2020, the Company's Russian operations produced 780 koz (+9% q-o-q) of
palladium and 190 koz (+11% q-o-q) of platinum. The growth of PGMs was
attributed mostly to the start of processing of chlorine-leaching residues
in-house at Kola Division (as a previous temporary arrangement, whereby they
used to be shipped for processing to Polar division, was canceled) following
the ramp-up of new refining capacities at Kola MMC.

In 9M2020, palladium and platinum output amounted to 2,044 koz (-7% y-o-y)
and 511 koz (-6% y-o-y), respectively. The decrease of PGMs output was
attributed mostly to a high base effect of 2019, when Krasnoyarsk Precious
Metals Plant processed earlier accumulated work-in-progress inventory.

NORILSK NICKEL HARJAVALTA (FINLAND)

Nickel

In 3Q2020, nickel production at Norilsk Nickel Harjavalta decreased 23%
q-o-q to 13 kt driven by change in the maintenance schedule, with the
scheduled repairs rescheduled from May to August. In 9M2020, nickel output
was almost flat (-1% y-o-y) at 46 kt.

Copper

In 3Q2020, copper output at Norilsk Nickel Harjavalta amounted to 253 t (a
5-fold decrease q-o-q). In 9M2020, total copper output decreased 86% y-o-y
to approximately 2 kt. The decrease was attributed to the scheduled shipment
of copper cake from Norilsk Nickel Harjavalta to Copper Plant of the Polar
Division for further refining.

Platinum Group Metals

In 3Q2020, output of saleable palladium and platinum (both contained in
copper cake) amounted to 3 koz (-57% q-o-q) and 1 koz (-38% q-o-q),
respectively. In 9M2020, output of palladium and platinum amounted to 9 koz
(-81% y-o-y) and 2 koz (-82% y-o-y), respectively. The decrease was

(MORE TO FOLLOW) Dow Jones Newswires

October 19, 2020 06:00 ET ( 10:00 GMT)
Werbung

Das könnte Sie auch interessieren

News-Suche

Suchbegriff:

Aktuelle Videos

HSBC Trading TV

Werbung

Trading-Tipp

Börsen & Märkte

US-Marktüberblick

zur Mediathek
Werbung

Werbung
Diese Seite empfehlenschliessen
Interessant, oder?
Teilen Sie diese Seite auf Facebook oder Twitter
Wenn Sie auf die Teilen-Buttons klicken und sich bei den Betreibern einloggen, werden Daten an den jeweiligen Betreiber übermittelt. Bitte beachten Sie die Datenschutzerklärung.
Aktuelle Umfrageschliessen
Wie, glauben Sie, wird der DAX am Ende dieser Woche - KW 09 - stehen?
Jetzt abstimmen!
Alle Umfragen ansehen