07/20/2021 | Press release | Distributed by Public on 07/20/2021 04:01
Moscow, July 20, 2021 - NornickelPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel' and its subsidiariesGo to the glossary, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces preliminary consolidated operating results for the second quarter and the first half of 2021 and production outlook for the full year 2021.
Senior Vice-President, Operations, Sergey Stepanov commented on the 1H2021 production results,
'In 2Q and 1H 2021, the output of all key metals reduced owing to one-off factors such as the temporary suspension of Oktyabrsky and Taimyrsky underground mines of the Norilsk division due to the natural groundwater inflow and an accident at Norilsk Concentrator. Currently, recovery of these assets is progressing by and large in line with the schedule.
The water inflow to these mines was effectively stopped in late March. The Oktyabrsky mine resumed full production by the middle of May, however the restoration of mining at the Taimyrsky mine has been delayed due to larger than expected volume of recovery work. As the industrial and environmental safety is our absolute priority, having pumped out the water, we are reinforcing supports in the mine underground workings. The Taimyrsky mine has been already restored to 80% capacity since resuming operation in early June and expected to return to full capacity by the end of this November.
The technical audit of the Norilsk Concentrator was completed in the second quarter. The construction defects identified by the audit have been completely fixed by now. The Concentrator has already reached 85% of its design capacity and is expected to return to full capacity in early October this year.
Taking into account the current progress in the restoration of the impacted production capacity of the Norilsk division, as well as the efficiency gains at other mining assets, we reiterate previously announced 2021 metal production forecast'.
This announcement contains inside information in accordance with Article 7 of EU Regulation 596/2014 of 16 April 2014.
Full name and position of person making the announcement - Vladimir Zhukov, Vice - president, Investor Relations.
ABOUT THE COMPANY
MMCMining and Metallurgical CompanyGo to the glossaryNorilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.
The production units of Norilsk Nickel GroupPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel' and its subsidiariesGo to the glossaryare located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and South Africa.
MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRAmerican Depositary Receipt; a security representing partial ownership in deposited securities of a foreign company certified by receipts issued by a US depositary bankGo to the glossarys are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.