Norilsk Nickel released its 1H07 financials
In MMC Norilsk Nickel summed up the work of the enterprise for the first half of this year. According to the company's reports, during this period, the company's facilities produced more than 145 thousand tons of commercial nickel (7% more than last year's figures). In the second half of the reporting period, the level of growth in the output of this metal was noticeably stalled: if in the first 3 months of 2012 the enterprises of the group produced 75.8 thousand tons of nickel, then in April-June, less than 70,000 (a decline of about 8%).
If you believe the comments of representatives of Norilsk Nickel, the main reason for this recession was the failure of supplies of raw materials for the production of metal by third-party mining companies to the Finnish enrichment plant Harjavalta, which is included in the portfolio of MMC assets since 2007. Due to this circumstance, the plant in Finland demonstrated the most negative dynamics in the production of nickel from all enterprises of the group (-39%).
For other metals supplied to the market by Norilsk Nickel, according to the reconciliation of the results of the 2nd and 1st quarters of 2012, the growth in production is typical. In particular, according to marketable copper, MMC improved its own results by 2%, and for the production of platinum group metals - by 12%. At the same time, the Russian divisions of the company - the Polar Division and the Kola MMC - played a key role in increasing production volumes for these types of products.