Nornickel: Q3 nickel output higher q/q, palladium output drops
Russia’s Nornickel, the world’s largest palladium producer and a major producer of high-grade nickel, said on Monday its third-quarter nickel production was 21% higher than in the previous quarter at 53,945 metric tons. Palladium production in the third quarter was down 13% quarter-on-quarter to 0.66 million troy ounces.
Nornickel CEO Vladimir Potanin, who holds a 36.6% stake in the company through his Interros holding group, has said Western sanctions, though not directly affecting the company, had limited its capabilities and forced it to pivot towards Asia with restructuring its logistics chains.
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