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MMC Norilsk Nickel, whose majority shareholder is Interros, announced preliminary consolidated production results for 4Q14 and full year of 2014 as well as its production outlook for full year 2015.

The results of 2014:

  • Totally in 2014 consolidated nickel production was down 4% year-on-year to 274 thousand tonnes. The decrease was attributed to scheduled capital repairs at Nadezhda Metallurgical Plant, reduced deliveries of raw materials from Boliden and BCL to Harjavalta refinery, lower nickel grades in the mined ore of Norilsk Nickel African assets (Tati Nickel) and the exit from Australian assets (Lake Johnston) in 3Q14. 

  • 2014 consolidated copper output reached 368 thousand tonnes, practically unchanged (down 1%) year-on-year. A slight decline was attributed to reduced delivery of third party copper cake to Kola MMC and lower sales by Tati Nickel of nickel semis to third parties. 

Platinum Group Metals
  • In general 2014 palladium and platinum output increased 3% year-on-year to 2.749 thousand troy ounces and 1% year-on-year to 657 thousand troy ounces, respectively, mainly owing to the increase of processing of work-in-progress material at the company’s Russian operations.

More details on the results for the 4th quarter 2014 and full production forecast for 2015 can be found here.