Russian metals giant Norilsk Nickel expects reserves of the Global Palladium Fund to stand at about 200,000 ounces at the end of 2018, CFO Sergei Malyshev said. “We have sold the bulk of the palladium fund reserves that we had at the beginning of this year. We had the reserves of 550,000 troy ounces at…
The net profit of the Russian metals giant Norilsk Nickel soared by 80% YoY, to $1.653 billion in January-June, as calculated under International Financial Reporting Standards (IFRS). Revenue increased by 37%, to $5.834 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 77%, to $3.079 billion. Net working capital fell by 20%,…
The nickel output of the Russian metals giant Norilsk Nickel fell by 9% QoQ, to 49,460 tons in April-June, the company said on July 31. Copper output rose by 4%, to 117,275 tons. In January-June the company’s nickel output rose by 1% YoY, to 103,523 tons. Copper output increased by 18%, to 229,565 tons. Palladium…
The net profit of the Russian metal producer Norilsk Nickel grew by 77.8% YoY, to 89.328 billion rubles in January-June, as calculated under Russian Accounting Standards (RAS), the company said in a statement. Revenue grew by 45.8%, to 280.29 billion rubles, the gross profit increased by 58.4%, to 176.73 billion rubles, and sales profit by…
At the 3rd Russian-South African Conference on Platinum Group Metals official representatives of Norilsk Nickel have reported on their achievements in the illegal trade struggle. It was decided to create the bank of platinum group metals and their raw materials. Nornickel has developed a unique test to determine the origin of precious metals contained in…
The project to construct underground mine Mayak has been approved by the State expertise service. The mine will be able to yield 1 million tons of copper-nickel ore per year. The project provides for underground operation only. The construction will be financed by Nornickel itself. (Ukrainian metal)
Norilsk Nickel shareholders at the annual meeting have set financial dividends for 2017 in the amount of 607.98 rubles per share, or 96.2 billion rubles total. Taking into account the interim dividends for H1 2017 ($600 million), the total amount will reach $2.162 billion. Last year the company net profit dropped by 16%, to $2.123…
The High Court of London has ruled that Crispian Investments, a unit of businessman Roman Abramovich’s Millhouse, should not have proposed and sold a stake in the Russian metals giant Norilsk Nickel to Interros of tycoon Vladimir Potanin. The sale infringed a shareholder agreement on preemptive rights between Interros and aluminum giant UC RUSAL, the…