Moscow, 28 October 2024 — 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 third quarter and nine months of 2024 and production outlook for the full year 2024.

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

“In 9M 2024, the output of key metals demonstrated positive dynamics: the Company increased the output of copper and palladium as compared to the same period of last year, while the output the platinum and nickel remained largely unchanged. The positive dynamics was attributed to improvement in the operational efficiency and increase in mined ore volumes.

The Company continued to increase production volumes of premium nickel brands, such as ‘Nornickel Plating Grade’ — for electroplating and ‘Nornickel High Purity’ — for the production of superalloys in order to enter new markets. In addition, the carbonyl nickel department in the nickel electrolysis shop at Kola Division has been successfully launched after annual scheduled capital maintenance, where we began to develop special nickel powders.

In 3Q 2024, the Company completed the largest capital repairs of the last few years. The flash smelting furnace #2 at Nadezhda Metallurgical Plant was completely reconstructed. The furnace was practically built anew, as a result of which smelting capacities increased by 25%. Due to the fact that the reconstruction was carried out in a very short time frame, 60 days instead of the planned 90, nickel production was restored already in the third quarter.

Taking into account all the initiatives, which have been rolled out, we have increased our previously announced production guidance from own Russian feed for FY2024”.

Nornickel announces Consolidated production results for 9M 2024