Wednesday, October 20, 2021


NORNICKEL ANNOUNCES CONSOLIDATED PRODUCTION RESULTS FOR 9 MONTHS OF 2021

MMC Norilsk Nickel (MNOD) NORNICKEL ANNOUNCES CONSOLIDATED PRODUCTION RESULTS FOR 9 MONTHS OF 2021 20-Oct-2021 / 13:00 MSK Dissemination of…

By Staff , in Palladium , at October 20, 2021


MMC Norilsk Nickel (MNOD) NORNICKEL ANNOUNCES CONSOLIDATED PRODUCTION RESULTS FOR 9 MONTHS OF 2021 20-Oct-2021 / 13:00 MSK Dissemination of a Regulatory Announcement that incorporates inside data in response to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely accountable for the content material of this announcement.

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PRESS RELEASE

Public Joint Inventory Firm «Mining and Metallurgical Firm «NORILSK NICKEL» (PJSC “MMC “Norilsk Nickel”, “Nornickel” or the “Firm”)

NORNICKEL ANNOUNCES CONSOLIDATED PRODUCTION RESULTS FOR 9 MONTHS OF 2021 Moscow, October 20, 2021 – Nornickel, the world’s largest producer of palladium and high-grade nickel and a significant producer of platinum and copper, broadcasts preliminary consolidated manufacturing outcomes for the third quarter and 9 months of 2021.

Senior Vice President, Operations, Sergey Stepanov commented on the manufacturing outcomes:

«In 9M 2021, the output of all key metals decreased owing to the non permanent suspension of Oktyabrsky and Taimyrsky underground mines and Norilsk Concentrator. Over this era, manufacturing volumes of saleable nickel and copper diminished extra relative to platinum group metals because of the shorter manufacturing cycle from ore to sophisticated steel of the previous. This issue performed a reversed position as soon as the mines and the concentrator began to get well, driving quicker restoration of nickel and copper volumes relative to PGMs within the third quarter.

As well as, we want to remind {that a} vital discount in work-in-progress in transit supplies and enhance in PGM output in 1Q21 helped to partially offset the unfavourable affect of non permanent suspension of operations in the course of the first 9M 2021. Nevertheless, the shutdown of the metallurgical store of Kola MMC in Monchegorsk in 1Q21 contributed moreover to the discount of copper manufacturing in 9M 2021.

At present, the Oktyabrsky mine is working at full capability, which was resumed already by the center of Could. The Taimyrsky mine is working at 85% capability since resuming operation in early June and anticipated to return to full capability by the start of December. In the mean time, we’re ending pumping out the water from the underside horizons of this mine, in addition to reinstalling the fasteners on the horizons, which have been already drained, aiming on the enchancment of business security. The Norilsk Concentrator has recovered to 93% of its design capability with the assistance of cellular crushers, and is anticipated to return to full capability by this December.

Considering the present progress within the restoration of the manufacturing amenities of the Norilsk division, we reiterate 2021 steel manufacturing forecast for nickel and copper inside the earlier introduced vary, whereas flagging up an upside danger for PGM volumes, that are anticipated on the prime finish of the guided vary.»

NORILSK NICKEL GROUP

Nickel

In 3Q21, consolidated nickel output elevated 55% quarter-on-quarter (q-o-q) to 51 kt, nearly all of which had been produced from the Firm’s personal Russian feed (50 kt, up 60% q-o-q). The rise in manufacturing was attributed to the completion of restoration of the Taimyrsky mine (4.3 mtpa of ore) after the flooding brought on by the influx of groundwater, in addition to the ramp up of the Norilsk Concentrator because of the launch of cellular crushers. The Taimyrsky underground mine and Norilsk Concentrator are scheduled to return to full capability this December.

The lower in nickel manufacturing in 3Q21 at Norilsk Nickel Harjavalta was brought on by annual scheduled upkeep and repairs.

In 9M21, whole nickel output decreased 23% y-o-y to 130 kt, virtually all of which had been produced from the Firm’s personal Russian feed (127 kt, down 23% q-o-q).

The lower in manufacturing was attributed to the non permanent suspension of mining operations and subsequent restoration works at Oktyabrsky (5 mtpa of ore) and Taimyrsky (4.3 mtpa of ore) underground mines of the Norilsk division after the flooding brought on by the influx of groundwater, in addition to the non permanent suspension of the Norilsk Concentrator and consequent repairs.

Copper

In 3Q21, copper manufacturing elevated 42% q-o-q to 116 kt. In 9M21, whole copper output decreased 20% y-o-y to 288 kt , nearly all of which had been produced from the Firm’s personal Russian feed. Copper manufacturing declined within the reported intervals because of the similar causes as described above for nickel.

Platinum Group Metals

In 3Q21, palladium and platinum output elevated 9% and eight% q-o-q to 598 koz and 145 koz, respectively. In 9M21, whole palladium and platinum output diminished 7% y-o-y to 1,913 koz and 10% y-o-y to 463 koz, respectively. All PGMs had been produced from the Firm’s personal Russian feed. The decline in PGMs manufacturing within the reported intervals was attributed to the identical causes as described above for nickel.

Manufacturing Steering from the Firm’s Russian feedstock for 2021

Steel                 Quantity 
Norilsk Nickel Group (excluding Chita) 
Ni, kt                190-200 
Cu, kt                335-355 
Pd, koz               2,350-2,410 
Pt, koz               580-640 
Bystrinsky (Chita) Copper Challenge (1) 
Cu, kt                65-70 
Au, koz               230-240 

Observe: 1. Norilsk Nickel Group owns 50.01% of Bystrinsky GOK (Chita Copper Challenge). Manufacturing outcomes are proven steel in focus on the market on 100% foundation and absolutely consolidated in whole operational outcomes. The concentrator on the Bystrinsky challenge was launched 2019.

                                                           3Q      2Q 
NORILSK NICKEL GROUP SALEABLE METALS PRODUCTION 1                         Q-o-Q 9M 2021 9M 2020 Y-o-Y 
                                                           2021    2021 
Whole nickel                                           t   50,575  32,644 55%   129,858 167,753 -23% 
 together with from personal Russian feed                       t   50,194  31,457 60%   127,208 165,985 -23% 
Whole copper                                           t   115,617 81,400 42%   288,310 358,588 -20% 
 together with from personal Russian feed                       t   115,591 81,400 42%   288,284 358,447 -20% 
Whole palladium                                        koz 598     548    9%    1,913   2,053   -7% 
 together with from personal Russian feed                       koz 598     548    9%    1,912   2,052   -7% 
Whole platinum                                         koz 145     134    8%    463     513     -10% 
 together with from personal Russian feed                       koz 145     134    8%    463     513     -10% 
Norilsk and Kola Division (Russia) 
Nickel                                                 t   43,014  23,874 80%   99,698  121,938 -18% 
 Kola MMC, together with                                   t   43,014  23,874 80%   99,698  121,938 -18% 
  refined Ni from personal Russian feed                     t   37,700  17,107 120%  81,002  112,079 -28% 
  saleable intermediate merchandise from personal Russian feed t   5,314   6,767  -21%  18,696  9,859   90% 
  from 3d events feed                                 t   0       0      0%    0       0       0% 
Copper                                                 t   97,810  64,932 51%   237,756 311 159 -24% 
 Norilsk Division                                      t   95,020  61,427 55%   219,108 262,384 -16% 
 Kola MMC, together with                                   t   2,790   3,505  -20%  18,648  48,775  -62% 
  Cu cathodes from personal Russian feed                    t   0       66     -100% 9,169   44,990  -80% 
  saleable intermediates from personal Russian feed         t   2,790   3,439  -19%  9,479   3,785   150% 
  from 3d events feed                                 t   0       0      0%    0       0       0% 
Palladium                                              koz 592     548    8%    1,906   2,044   -7% 
 Norilsk Division                                      koz 299     249    20%   783     880     -11% 
 Kola MMC, together with                                   koz 293     299    -2%   1,123   1,164   -3% 
  from personal Russian feed                                koz 293     299    -2%   1,123   1,164   -3% 
  from 3d events feed                                 koz 0       0      0%    0       0       0% 
Platinum                                               koz 144     134    7%    461     511     -10% 
 Norilsk Division                                      koz 73      67     9%    199     224     -11% 
 Kola MMC, together with                                   koz 71      67     5%    262     288     -9% 
  from personal Russian feed                                koz 71      67     5%    262     288     -9% 
  from 3d events feed                                 koz 0       0      0%    0       0       0% 
Kola Division (NN Harjavalta, Finland) 
Nickel, together with                                      t   7,561   8,770  -14%  30,160  45,815  -34% 
  from personal Russian feed                                t   7,180   7,583  -5%   27,510  44,047  -38% 
  from 3d events feed                                 t   381     1,187  -68%  2,650   1,768   50% 
Copper, together with                                      t   393     0      -     393     1,650   -76% 
  from personal Russian feed                                t   367     0      -     367     1,509   -76% 
  from 3d events feed                                 t   26      0      -     26      141     -82% 
Palladium, together with                                   koz 6       0      -     6       9       -33% 
  from personal Russian feed                                koz 6       0      -     6       8       -27% 
  from 3d events feed                                 koz 0       0      -     0       1       -81% 
Platinum, together with                                    koz 1       0      -     1       2       -28% 
  from personal Russian feed                                koz 1       0      -     1       2       -10% 
  from 3d events feed                                 koz 0       0      -     0       0       -100% 
Zabaykalsky Division (Russia) 2 

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October 20, 2021 06:00 ET (10:00 GMT)



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