NORNIKEL announces production results for 9 months of 20221

PJSC MMC Norilsk Nickel, the world's largest producer of palladium and high-grade nickel, as well as a major producer of platinum and copper, announces preliminary production results for the third quarter and nine months of 2021, and also confirms an earlier production forecast for 2021.

Senior Vice President - Production Director Sergey Stepanov commented on production results for the reporting periods of 2021:

“In the first nine months of this year, the production of all metals was reduced compared to the same period last year due to the temporary suspension of the Oktyabrsky and Taimyrsky mines, as well as the Norilsk dressing plant. At the same time, due to the shorter production cycle from mining to final products, the production of nickel and copper decreased more than the platinum group metals. After the mines and the mill began to actively recover, the same factor led to a relatively faster recovery in nickel and copper production in the third quarter.

An additional factor that partially offset the temporary production interruption in the first nine months was a significant reduction in transport WIP and an increase in platinum group metals production in the first quarter. At that time, an additional factor in the decline in copper production during this period was the planned closure of the metallurgical plant in Monchegorsk in the first quarter of this year.

To date, the Oktyabrsky mine is operating at full capacity, which was restored already in mid-May. The Taimyrskiy mine is operating at 85% capacity, and its full restoration is planned, as previously expected, by early December this year. The mine is completing the pumping of water from the lower horizons, as well as the reinstallation of fasteners on the horizons that have been drained in order to increase the safety of mining operations. The Norilsk Concentrator has now restored its capacity to 93% of its planned capacity thanks to the launch of mobile crushing plants, and we expect it to be fully loaded by December this year.