Norilsk Nickel - Healthy 4Q17 Production Update; 2018 Output Guidance Reiterated
> Norilsk Nickel's 4Q17 production results ensured that the full-year figures came in generally within the guidance. Full-year nickel output from the company's own feedstock totaled 210 kt (versus 206-211 kt guided; up 7% y-o-y), while copper production reached 398 kt (slightly above the 377-387 kt target and up 15% y-o-y), palladium output came in at 2,728 koz (versus the 2,636-2,732 koz guidance) and platinum output reached 650 koz (versus 581-645 koz). The company has completed the main phase of its downstream reconfiguration by modernizing the Talanakh Concentrator at its Taimyr division. It has also started to process copper concentrate purchased from Russian state company Rostec, allowing it to almost fully load its Hrjavalta facilities in Finland with its own feed instead of low-margin third-party feedstock. As a result, metal production from its own feed rose 7-15% y-o-y.MMC Norilsk Nickel PJSC is a global producer of nickel, palladium, platinum and copper. Co. also produces by-products, such as cobalt, chromium, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium and sulfur. Co. is involved in prospecting, exploration, extraction, refining and metallurgical processing of minerals, as well as in production, marketing and sale of base and precious metals. Co.'s production facilities are located in five countries: Russia, Australia, Botswana, Finland, and South Africa. Co.'s production units are integrated and include: the Polar Division (the Taimyr Peninsula); and the Kola Mining and Metallurgical Company (Kola MMC or the Kola Peninsula).
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