April 29, 2016 / 11:41 AM / 3 years ago

UPDATE 1-Russia's Norilsk says Q1 nickel output down 6 pct y/y

(Adds details, context)
    MOSCOW, April 29 (Reuters) - Russia's Norilsk Nickel
 said on Friday its first-quarter nickel output fell 6
percent year-on-year to 63,631 tonnes due to a reconfiguration
of production facilities at its Polar assets.
    Norilsk, the world's second-largest nickel producer after
Brazilian miner Vale SA, also said it was on track to
meet its 2016 metals production guidance.
    The company, also the world's largest palladium producer,
added its first-quarter palladium output rose 1 percent
year-on-year to 642,000 troy ounces, while platinum production
gained 4 percent to 171,000 ounces thanks to the processing of
work-in-progress materials.
    Its copper output fell 3 percent to 87,255 tonnes due to
lower metal content in mined ore, added the company, part owned
by Russian tycoon Vladimir Potanin and aluminium producer Rusal
. 
    Below is Norilsk's 2016 production guidance for its Russian
assets:    
                         Saleable metals       Increase of
                                          work-in-progress
                                              materials in
                                                   Transit
    Nickel, ,000 tonnes          206-212             15-19
    Copper, ,000 tonnes          342-352               4-6
     Palladium, ,000 oz      2,296-2,392           231-243
      Platinum, ,000 oz          542-586             55-59
    Source text for Eikon:   

 (Reporting by Polina Devitt; Editing by Jack Stubbs and Mark
Potter)
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