Norilsk Nickel makes loss of $916.4 mln in 1Q08
Norilsk Nickel made a net loss of $916.4 million calculated to Russian Accounting Standards (RAS) in the first quarter of 2008, the world’s largest nickel and palladium company has said in a statement.
Norilsk Nickel posted on Wednesday a preliminary output report saying its nickel production increased 22% to 74,572 metric tons in the first quarter of 2008 year-on-year.
Norilsk Nickel accounts for over 20% of global nickel output. It also produces more than 10% of the world’s cobalt and 3% of global cooper. The company produces around 96% of Russian nickel, 55% of the country’s copper and 95% of its cobalt.
