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"Norilsk Nickel" announced the results of 2014

11 March 2015

MMC «Norilsk Nickel» has sounded the preliminary results of production in 2014. In quarter 4 th volume of smelting nickel accounted for 74 000 tonnes. This figure is 5% higher than the results of the third quarter. the level of production growth was driven by the increasing use of a work in progress. The annual volume of the produced nickel fell by 4% compared to 2013, amounting to 274,000 tons. A factor that influenced the decline was the major repair at Nadezhda plant. Also affected by the reduced supply of raw materials to the factory «Harjavalta» by BCL and Boliden companies. Was influenced by the sale Lake Johnston in Australia and reduction% nickel raw African assets. Kola Peninsula and the Arctic branch in the 4 th quarter produced about 61 000 tonnes of nickel. This figure exceeds the results of the third quarter by 6%. During the year, nickel production volumes totaled 228 thousand tons. Previously compiled forecast assumes production figures at the level of 225−235 thousand tons. The achieved results lower than in 2013 by 1% due to lower volumes of low-margin tolling operations on the Kola Peninsula.

Smelting of copper increased by 6% in the 4 th quarter of the last year with respect to the third quarter of 2014 was 95 000 tonnes. This growth is due to the increase in the produced% copper raw materials and the increasing use of a work in progress. In 2014, the volume of smelting of copper totaled 368,000 tonnes, which is almost fully repeats the results of 2013. Decrease by 1% due to the decline in the supply on the Kola MMC copper cake, as well as a decrease in sales of high-grade matte «Tati Nickel» outside organizations. Volumes of copper smelting on the Kola Peninsula and in the Taimyr Peninsula in the 4 th quarter amounted to 89,000 tons. This figure exceeds the results of the third quarter by 4%. Overall for the year it was released about 355 000 tonnes, which exceeds the projected figures that made up 340−350 thousand tons. The results of 2014 by 1% lower than in 2013 due to a decrease in deliveries to Kola MMC copper cake.

This year the company plans to increase production volumes of nickel to the level of 220−226 thousand tons. This level corresponds to the results in 2014. According to preliminary estimates of experts, «Norilsk Nickel» smelted copper volumes reached 360−368 million tons mark. This forecast exceeds the results of 2014 and is based on the increase in the volume of extracted raw materials and% copper in it.

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