MMC NORILSK NICKEL ANNOUNCES PRODUCTION FIGURES
Mining and Metallurgical Company (MMC) Norilsk Nickel (”The Company”) announces preliminary consolidated production figures of its Polar Division and Kola MMC for the first half of 2006.
Tav Morgan, Deputy General Director of MMC Norilsk Nickel, announced that the Company fulfilled its second quarter and first half 2006 production plan for nickel and copper, producing 61 thousand metric tons of nickel and 109 thousand metric tons of copper from April through June 2006. Overall production volumes for the first half of 2006 reached 121 thousand metric tons of nickel and 218 thousand metric tons of copper.
The Company produced 881 thousand ounces (27.4 metric tons) of palladium and 215 thousand ounces (6.7 metric tons) of platinum during the second quarter of 2006. Overall production volumes for the first half of 2006 reached 1.656 million ounces (51.5 metric tons) of palladium and 398 thousand ounces (12.4 tons) of platinum. These volumes are related only to the production results of the Polar Division and Kola MMC and do not include those that were produced at Stillwater Mining Company.
In addition, Tav Morgan informed that expected nickel and copper production for 2006 remains in line with the production plan, calling for an estimated 243-248 thousand metric tons of nickel and 422-427 thousand metric tons of copper.
The Company is raising its 2006 production forecast for palladium to between 3.05-3.10 million ounces (95-96 metric tons) and platinum to 720-730 thousand ounces (22-23 metric tons). Since the third quarter of 2005, Norilsk Nickel has been releasing quarterly nickel and copper production figures of its Polar Division and Kola MMC within 30 days of the end of the quarter. July 21, 2006 The MMC Norilsk Nickel Press Service Tel: (+7) 495 797 8294 Fax (+7) 495 786 8394 E-mail: uosmail@nornik.ru
www.nornik.ru
