Moscow — PJSC MMC Norilsk Nickel the world’s largest of palladium and high-grade nickel and a major producer of platinum and copper, announces preliminary consolidated production results for the fourth quarter and the full year of 2019 and reiterates its production outlook for the full year 2020.

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

“In 2019, the Company increased the output of all key metals as a result of improved operating efficiency, optimization of production flow and ongoing ramp-up of Bystrinsky project.

Total nickel output increased 5% year-on-year to 229 kt owing to the ramp-up of the refining shop operating new chlorine leaching technology and expansion of carbonyl nickel production capacity at Kola MMC. Total copper output increased 5% year-on-year to a record of 499 kt driven by improved operating efficiency, increased mined ore volumes and higher copper grades at Talnakh mines as well as the ramp-up of Bystrinsky (Chita) project that was fully commissioned in September 2019. Palladium and platinum output increased 7% and 8% year-on-year to 2.9 moz and 0.7 moz, respectively, owing primarily to the release of work-in-progress inventory.

We reiterate our production guidance from own Russian feed for FY2020 announced at the Capital Markets Day in November 2019”.

Nornickel announces preliminary consolidated production results for FY2019 and reiterates production outlook for 2020