Benchmarking Analysis of the Development Direction of MHP and Nickel Matte

Benchmarking Analysis Of the Development  Direction Of MHP And Nickel Matte

Technical Due Diligence Survey of Nickel Product Unit

Technical Due Diligence Survey Of Nickel Product Unit

Long-term Price Forecast of Nickel Industry

Long-term Price Forecast Of Nickel Industry

Feasibility Study of Nickel Industry Investment

Feasibility Study Of Nickel Industry Investment

Indonesia Ni Industry Analysis 

Home

Metal News

Norilsk Nickel Trims 2009 Nickel Output F'cast

Li-ion Battery Americas 2024

2024 SMM (19th) Aluminium Conference & the First Aluminium Industry Expo

CLNB 2024 9TH CHINA NEW ENERGY EXPO

Indonesia Nickel & Cobalt & EV Industry Conference 2024

ASEAN Tin Industry Conference 2024

ASEAN Coal Industry Conference 2024

ASEAN Aluminium Industry Conference 2024

2024 ASEAN Automotive Supply Chain

2024 Global Renewable Metal Industry Chain Summit

2nd Li-ion Battery Europe 2024

[Minor metal] Declines in Sulfuric Acid Price Slow

MOSCOW, May&nbsp;27 -- Russian miner Norilsk Nickel trimmed its 2009 nickel output forecast to between 285,000 tonnes and 300,000 tonnes, the company said on Monday, from an earlier estimate of 290,000 tonnes to 305,000 tonnes.
&nbsp;&nbsp;&nbsp; Norilsk, the world's largest nickel miner, said production would be steady at its Polar and Kola divisions in the Russian Arctic, while output from purchased intermediaries would largely offset the closure of 43,500 tonnes of overseas capacity.
&nbsp;&nbsp;&nbsp; For the foreign assets Norilsk has placed under maintenance, Norilsk is preparing a strategy that will be made public after its approval by the board, Norisk's CFO Dmitry Kostoyev told a conference call on Monday.
&nbsp;&nbsp;&nbsp; "Until this strategy is finished and approved we are not planning... the sale of our international assets," he said.
&nbsp;&nbsp;&nbsp; Norilsk also raised its forecast for palladium production in 2009 to between 2.685 million and 2.710 million ounces from an earlier estimate of 2.610 million to 2.625 million ounces.
&nbsp;&nbsp;&nbsp; Platinum output is forecast at between 615,000 and 640,000 ounces, compared with an earlier forecast of 600,000-620,000 ounces.
&nbsp;&nbsp;&nbsp; Though the forecasts are slightly higher, they still predict year-on-year output reductions as a result of lower platinum group metals grades in the ore mined. Norilsk tweaked its copper output forecast at the upper end to 385,000-405,000 tonnes from 385,000-400,000 tonnes earlier.
&nbsp;&nbsp;&nbsp; SWINGS TO LOSS FROM PROFIT
&nbsp;&nbsp;&nbsp; Norilsk swung to a $449 million net loss in 2008, attributable to shareholders of its parent company, after taking $4.7 billion in impairment charges and selling its metal for less.
&nbsp;&nbsp;&nbsp; The loss compared with a net profit of $5.3 billion a year ago and was far below the $3.4 billion profit forecast by analysts.
&nbsp;&nbsp;&nbsp; Norilsk said impairment of non-financial assets amounted to $4.7 billion in 2008, compared with $1.88 billion in 2007.
&nbsp;&nbsp;&nbsp; This resulted from an impairment of property, plant and equipment at Norilsk Nickel International and power firm OGK-3, as well as impairment of goodwill recognised at Norilsk Nickel International and its Activox refining technology.
&nbsp;&nbsp;&nbsp; Norilsk posted revenues of $14.0 billion last year, only slightly below the $14.1 billion in a Reuters poll of analysts, and down from $17.1 billion in 2007.
&nbsp;&nbsp;&nbsp; Revenue from metal sales alone totalled $11.8 billion last year, a 26 percent decrease from 2007, Norilsk said.
&nbsp;&nbsp;&nbsp; "The main factor in this was a substantial decrease of sales prices for nickel," Norilsk said. "In addition, a slight decrease in physical volumes of metals sold contributed to the fall in revenue of the group."
&nbsp;&nbsp;&nbsp; Norilsk's adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were $5.8 billion, in line with the Reuters poll. Last year Norilsk's EBITDA was $10.3 billion.
&nbsp;&nbsp;&nbsp; The biggest shareholders in Norilsk Nickel are Interros, the investment vehicle for billionaire Vladimir Potanin, and United Company RUSAL, the world's largest aluminium producer.
&nbsp;&nbsp;&nbsp; (Source: Reuters)

Shanghai Copper up; LME Hits 2-wk High

Norilsk Nickel Trims 2009 Nickel Output F'cast | Shanghai Non ferrous Metals

Norilsk Nickel Trims 2009 Nickel Output F'cast

SMM Events & Webinars

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit

2024 ASEAN Automotive Supply Chain