Moscow, 27 January 2025 — Nornickel, the world’s largest producer of palladium and Class I nickel and a major producer of platinum and copper, announces preliminary consolidated production results for the fourth quarter and the full year 2024 and production outlook for the full year 2025.

Senior Vice-President — Operating Director, Alexander Popov commented on the production results,

“In 2024, the output of all key metals exceeded our production guidance as a result of improved operating efficiency.

In 2024, the Company completed reconstruction of the smelting furnace #2 at Nadezhda Metallurgical Plant. The furnace was practically fully re-built resulting in a 25% increase of its smelting capacity. We managed to complete this scheduled capital repair in 60 days instead of the planned 90 days.

The Company continued to diversify its product portfolio. We increased production volumes of premium nickel brands for electroplating sector in China. In addition, the carbonyl nickel department in the nickel electrolysis shop at Kola Division has been successfully launched after annual schedule capital maintenance, where we began to develop special nickel powders. In order to improve customer satisfaction, we increased the share of copper cathodes of the top-quality brand by 10% to 84.3%.

An important achievement of 2024 was the confirmation of the effectiveness of the Sulphur Program at Nadezhda Metallurgical Plant after the launch of its first line at the end of 2023. Over the past year, Nornickel has been consistently rolling out the gas utilization equipment to reach its design parameters and successfully launched the second line. As a result, sulfur dioxide emissions were reduced by 390 thousand tons and the efficiency of cleaning sulfur-containing gases was confirmed by the government watchdog Rosprirodnadzor at 99.1%. The sulfur program is aimed at a radical reduction of sulfur dioxide emissions in the Norilsk industrial region drastically improving the air quality for its residents”.

Nornickel announces 2024 consolidated production results