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31.10.2016 10:22:26
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DGAP-UK-Regulatory: Mining and Metallurgical Company NORILSK NICKEL PJSC (spons. ADRs)
EQS-Regulatory: MMC Norilsk Nickel: «NORILSK NICKEL» GROUP ANNOUNCES PRELIMINARY CONSOLIDATED PRODUCTION RESULTS FOR 3d QUARTER AND 9 MONTHS OF 2016
Moscow, October 31, 2016 - PJSC MMC Norilsk Nickel (hereinafter - Nornickel, the Company or the Group), the world's largest nickel and palladium producer, announces preliminary consolidated production results for the third quarter and the nine months of 2016.
Nickel
3Q16 consolidated nickel production amounted to 56 kt decreasing 4% quarter-on-quarter (q-o-q). Nickel output from the Company's own Russian feed reached 45 kt, down 4% q-o-q. The reduction was driven by decommissioning of Nickel Plant as put of ongoing reconfiguration of downstream production facilities and resulting increase of work-in-progress material in transit.
Overall during 9M16, nickel output amounted to 177 kt decreasing 8% year- on-year (y-o-y) driven mostly by larger volumes of nickel concentrate shipped to Norilsk Nickel Harjavalta for processing as result of reconfiguration of downstream production facilities.
Copper
3Q16 consolidated copper production amounted to 87 kt decreasing 4% q-o-q. Copper output from the Company's own Russian feed reached 82 kt, down 5% q- o-q. The decrease was attributed to lower copper content in mined ore and industrial testing of the upgraded Talnakh Concentrator.
Overall during 9M16, copper output amounted to 264 kt decreasing 4% y-o-y driven mostly by industrial testing of upgraded Talnakh Concentrator and lower copper content in mined ore.
Platinum Group Metals
3Q16 consolidated palladium and platinum output amounted to 649 koz (down 6% q-o-q) and 156 koz (down 4% q-o-q), respectively. Palladium output from the Company's own Russian feed reached 616 koz, down 9% q-o-q and platinum output reached 144 koz, down 9% q-o-q. The decrease of palladium and platinum output was attributed to the increase of work-in-progress material in transit as result of reconfiguration of downstream production facilities.
Overall during 9M16, palladium and platinum output amounted to 1,980 koz (down 4% y-o-y) and 489 koz (down 5% y-o-y), respectively. The decline was driven mostly by lower metal content in mined ore..
Russian operations
In 3Q16, the Company's Russian assets produced 41 kt of nickel, down 13% q- o-q. During 9M16, total nickel output by the Pola and Kola divisions decreased 14% y-o-y to 140 kt. The reduction was attributed to the shutdown of Nickel Plant in 3Q 2016 and to the increase of concentrate shipments for further processing at Norilsk Nickel Harjavalta as a part of reconfiguration of downstream assets.
In 3Q16, copper output in Russia amounted to 84 kt, down 5% q-o-q. The decrease was driven by lower copper content in mined ore and industrial testing of upgraded Talnakh Concentrator. In 9M16, copper output amounted to 258 kt, down 2% y-o-y. The reduction was attributed to the pre- commissioning works at upgraded Talnakh Concentrator and lower copper content in mined ore.
In 3Q16, in Russia the output of palladium decreased 7% y-o-y to 631 koz and the production of platinum decreased 6% y-o-y to 150 koz, driven by the change in metal content in mined ore and the increase of work-in-progress material. Overall in 9M16, palladium output in Russia reached 1,941 koz (down 3% y-o-y) and platinum output amounted to 475 koz (down 3% y-o-y). The decrease of PGM production volumes was attributed to lower metal content in mined ore.
Norilsk Nickel Finland
In 3Q16, Norilsk Nickel Harjavalta produced approximately 15 kt of nickel, up 40% q-o-q. Nickel output from the Company's own Russian feed increased almost 7-fold q-o-q to 5 kt. The increase was attributed to higher processing volumes of Russian concentrate as a part of the ongoing assets reconfiguration. In 9M16, nickel output amounted to 37 kt increasing 25% y- o-y. The growth was attributed to the increase in processing of Russian feed and additional processing volumes of concentrate purchased from third parties.
In 3Q16, output of copper increased 60% q-o-q to 3 kt, which was attributed to higher copper content in supplied feed. In 9M16, copper output reached 6 kt down 32% y-o-y. The decrease of output was driven by shipment of copper cake for processing to Kola MMC.
In 3Q16, Norilsk Nickel Harjavalta increased the production of palladium and platinum (in copper cake) by 50% q-o-q to 18 koz and 6 kt respectively. The increase of PGM volumes was attributed to low base effect as there were scheduled capital repairs in 2Q16. In 9M16, output of palladium and platinum reached 39 koz (down 36% y-o-y) and 14 koz (down 42% y-o-y) respectively. The decrease of PGM output was driven by shipment of copper cake for processing to Kola MMC.
2016 Production guidance from Russian feedstock:
Metals Saleable Metals Ni, kt 195-200* Cu, kt 342-352 Pd, koz 2,296-2,392 Pt, koz 542-586
*The decrease of nickel production forecast from prior guidance of 206-212 kt owes to industrial testing of upgraded Talnakh Concentrator.
«NORILSK NICKEL» 3Q 2016 2Q 2016 Q-o-Q, 9M 2016 9M 2015 Y-o-Y, GROUP SALEABLE % % METALS PRODUCTION TOTAL METAL PRODUCTION¹ Nickel, t 55,782 57,943 -4% 177,357 193,754 -8% thereof from own 45,213 46,903 -4% 143,981 161,492 -11% Russian feed Copper, tonnes 86,587 90,222 -4% 264,047 273,990 -4% thereof from own 81,677 86,316 -5% 253,250 261,480 -3% Russian feed Palladium, koz 649 689 -6% 1,980 2,072 -4% thereof from own 616 677 -9% 1,916 1,980 -3% Russian feed Platinum, koz 156 163 -4% 489 513 -5% thereof from own 144 159 -9% 465 477 -3% Russian feed Polar division and Kola MMC (Russia) Nickel, t 41,106 47,456 -13% 140,326 163,230 -14% Polar division 6,510 20,700 -69% 50,860 71,936 -29% Kola division 34,596 26,756 29% 89,466 91,294 -2% thereof from 33,441 25,467 31% 86,600 89,556 -3% Russian feed thereof from 3d 1,115 1,289 -10% 2,866 1,738 65% parties feed Copper, t 83,614 88,364 -5% 257,638 263,857 -2% Polar division 64,356 73,923 -13% 211,042 217,529 -3% Kola division 19,258 14,441 33% 46,596 46,328 1% thereof from 17,321 12,393 40% 42,208 43,951 -4% Russian feed thereof from 3d 1,937 2,048 -5% 4,388 2,377 85% parties feed Palladium, koz 631 677 -7% 1,941 2,006 -3% Polar division 435 495 -12% 1,335 1,502 -11% Kola division 196 182 8% 606 504 20% thereof from 181 182 -1% 581 478 22% Russian feed thereof from 3d 15 0 - 25 26 -4% parties feed Platinum, koz 150 159 -6% 475 488 -3% Polar division 108 125 -14% 352 387 -9% Kola division 42 34 24% 123 101 22% thereof from 36 34 6% 113 90 26% Russian feed thereof from 3d 6 0 - 10 11 -9% parties feed Nickel concentrate (work-in-progress material) for Norilsk Nickel Finland 2 Nickel, t 9,247 4,044 129% 13,290 0 - Copper, t 1,696 598 184% 2,293 0 - Palladium, koz 5 1 400% 6 0 - Platinum, koz 26 6 333% 32 0 - Norilsk Nickel Finland (Finland)3 Nickel, t 14,676 10,487 40% 37,031 29,613 25% thereof from 5,262 736 615% 6,521 0 - Russian feed Copper, t 2,973 1,858 60% 6,409 9,462 -32% Palladium, koz 18 12 50% 39 61 -36% Platinum, koz 6 4 50% 14 24 -42% Norilsk Nickel Africa (South Africa and Botswana Tati Nickel 0 0 - 0 1,822 -100% nickel, t 4 thereof Tati 0 0 - 0 911 -100% Nickel nickel to 3d parties thereof Tati 0 0 - - 911 -100% Nickel nickel processed in the Company Nkomati (50%) 1,529 2,170 -30% 6,599 8,370 -21% nickel processed in the Company, t Tati Nickel 0 0 - 0 1,342 -100% copper, t 4 thereof Tati 0 0 - 0 671 -100% Nickel copper to 3d parties thereof Tati 0 0 - 0 671 -100% Nickel copper processed in the Company Nkomati (50%) 793 1,006 -21% 3,138 3,810 -18% copper processed in the Company, t Tati Nickel 0 0 - 0 10 -100% palladium, koz 4 thereof Tati 0 0 - 0 5 -100% Nickel palladium to 3d parties thereof Tati 0 0 - 0 5 -100% Nickel palladium processed in the Company Nkomati (50%) 8 10 -20% 31 38 -18% palladium processed in the Company, koz Tati Nickel 0 0 - 0 2 -100% platinum, koz 4 thereof Tati 0 0 - 0 1 -100% Nickel platinum to 3d parties thereof Tati 0 0 - 0 1 -100% Nickel platinum processed in the Company Nkomati (50%) 3 4 -25% 12 15 -20% platinum processed in the Company, koz
Notes:
¹Totals may value from sum of numbers as a result of rounding ²Production results are not included in totals as all concentrate is shipped to NN Harjavalta 3 Production results include processing of nickel concentrate from Nkomati and purchased materials 4 The assets was sold in Q2 2015
This announcement contains inside information in accordance with Article 7 of EU Regulation 596/2014 of 16 April 2014.
Full name and position of person making the announcement - Vladimir Zhukov, Vice - president, Investor Relations
ABOUT THE COMPANY
PJSC 'MMC NORILSK NICKEL' is a diversified mining and metallurgical company, the world's largest producer of refined nickel and palladium and a leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, selenium, ruthenium and tellurium.
The production units of 'NORILSK NICKEL' Group include Polar Division, located at the Norilsk Industrial District on Taimyr Peninsula, and Kola Mining and Metallurgical Company located on the Kola Peninsula in Russia as well as Harjavalta nickel refinery in Finland.
PJSC 'MMC 'NORILSK NICKEL' shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges. PJSC 'MMC 'NORILSK NICKEL' ADRs trade over the counter in the US and on the London and Berlin Stock Exchanges.
Media Relations: Investor Relations:
Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20
Email: pr@nornik.ru Email: ir@nornik.ru
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The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg
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Language: English Company: MMC Norilsk Nickel 1 st Krasnogvardeysky av., 15 123100 Moscow Russia Internet: www.nornik.ru ISIN: US55315J1025 WKN: A140M9 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt ; London, Nasdaq Category Code: QRT TIDM: MNOD Sequence Number: 3538 Time of Receipt: 31-Oct-2016 / 10:22 CET/CEST End of Announcement EquityStory.RS, LLC News Service ---------------------------------------------------------------------------
515837 31-Oct-2016
MMC Norilsk Nickel / 3rd Quarter Results
MMC Norilsk Nickel: «NORILSK NICKEL» GROUP ANNOUNCES PRELIMINARY
CONSOLIDATED PRODUCTION RESULTS FOR 3d QUARTER AND 9 MONTHS OF 2016
31-Oct-2016 / 10:22 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS,
LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
«NORILSK NICKEL» GROUP ANNOUNCES PRELIMINARY CONSOLIDATED PRODUCTION
RESULTS FOR 3d QUARTER AND 9 MONTHS OF 2016
Moscow, October 31, 2016 - PJSC MMC Norilsk Nickel (hereinafter - Nornickel, the Company or the Group), the world's largest nickel and palladium producer, announces preliminary consolidated production results for the third quarter and the nine months of 2016.
Nickel
3Q16 consolidated nickel production amounted to 56 kt decreasing 4% quarter-on-quarter (q-o-q). Nickel output from the Company's own Russian feed reached 45 kt, down 4% q-o-q. The reduction was driven by decommissioning of Nickel Plant as put of ongoing reconfiguration of downstream production facilities and resulting increase of work-in-progress material in transit.
Overall during 9M16, nickel output amounted to 177 kt decreasing 8% year- on-year (y-o-y) driven mostly by larger volumes of nickel concentrate shipped to Norilsk Nickel Harjavalta for processing as result of reconfiguration of downstream production facilities.
Copper
3Q16 consolidated copper production amounted to 87 kt decreasing 4% q-o-q. Copper output from the Company's own Russian feed reached 82 kt, down 5% q- o-q. The decrease was attributed to lower copper content in mined ore and industrial testing of the upgraded Talnakh Concentrator.
Overall during 9M16, copper output amounted to 264 kt decreasing 4% y-o-y driven mostly by industrial testing of upgraded Talnakh Concentrator and lower copper content in mined ore.
Platinum Group Metals
3Q16 consolidated palladium and platinum output amounted to 649 koz (down 6% q-o-q) and 156 koz (down 4% q-o-q), respectively. Palladium output from the Company's own Russian feed reached 616 koz, down 9% q-o-q and platinum output reached 144 koz, down 9% q-o-q. The decrease of palladium and platinum output was attributed to the increase of work-in-progress material in transit as result of reconfiguration of downstream production facilities.
Overall during 9M16, palladium and platinum output amounted to 1,980 koz (down 4% y-o-y) and 489 koz (down 5% y-o-y), respectively. The decline was driven mostly by lower metal content in mined ore..
Russian operations
In 3Q16, the Company's Russian assets produced 41 kt of nickel, down 13% q- o-q. During 9M16, total nickel output by the Pola and Kola divisions decreased 14% y-o-y to 140 kt. The reduction was attributed to the shutdown of Nickel Plant in 3Q 2016 and to the increase of concentrate shipments for further processing at Norilsk Nickel Harjavalta as a part of reconfiguration of downstream assets.
In 3Q16, copper output in Russia amounted to 84 kt, down 5% q-o-q. The decrease was driven by lower copper content in mined ore and industrial testing of upgraded Talnakh Concentrator. In 9M16, copper output amounted to 258 kt, down 2% y-o-y. The reduction was attributed to the pre- commissioning works at upgraded Talnakh Concentrator and lower copper content in mined ore.
In 3Q16, in Russia the output of palladium decreased 7% y-o-y to 631 koz and the production of platinum decreased 6% y-o-y to 150 koz, driven by the change in metal content in mined ore and the increase of work-in-progress material. Overall in 9M16, palladium output in Russia reached 1,941 koz (down 3% y-o-y) and platinum output amounted to 475 koz (down 3% y-o-y). The decrease of PGM production volumes was attributed to lower metal content in mined ore.
Norilsk Nickel Finland
In 3Q16, Norilsk Nickel Harjavalta produced approximately 15 kt of nickel, up 40% q-o-q. Nickel output from the Company's own Russian feed increased almost 7-fold q-o-q to 5 kt. The increase was attributed to higher processing volumes of Russian concentrate as a part of the ongoing assets reconfiguration. In 9M16, nickel output amounted to 37 kt increasing 25% y- o-y. The growth was attributed to the increase in processing of Russian feed and additional processing volumes of concentrate purchased from third parties.
In 3Q16, output of copper increased 60% q-o-q to 3 kt, which was attributed to higher copper content in supplied feed. In 9M16, copper output reached 6 kt down 32% y-o-y. The decrease of output was driven by shipment of copper cake for processing to Kola MMC.
In 3Q16, Norilsk Nickel Harjavalta increased the production of palladium and platinum (in copper cake) by 50% q-o-q to 18 koz and 6 kt respectively. The increase of PGM volumes was attributed to low base effect as there were scheduled capital repairs in 2Q16. In 9M16, output of palladium and platinum reached 39 koz (down 36% y-o-y) and 14 koz (down 42% y-o-y) respectively. The decrease of PGM output was driven by shipment of copper cake for processing to Kola MMC.
2016 Production guidance from Russian feedstock:
Metals Saleable Metals Ni, kt 195-200* Cu, kt 342-352 Pd, koz 2,296-2,392 Pt, koz 542-586
*The decrease of nickel production forecast from prior guidance of 206-212 kt owes to industrial testing of upgraded Talnakh Concentrator.
«NORILSK NICKEL» 3Q 2016 2Q 2016 Q-o-Q, 9M 2016 9M 2015 Y-o-Y, GROUP SALEABLE % % METALS PRODUCTION TOTAL METAL PRODUCTION¹ Nickel, t 55,782 57,943 -4% 177,357 193,754 -8% thereof from own 45,213 46,903 -4% 143,981 161,492 -11% Russian feed Copper, tonnes 86,587 90,222 -4% 264,047 273,990 -4% thereof from own 81,677 86,316 -5% 253,250 261,480 -3% Russian feed Palladium, koz 649 689 -6% 1,980 2,072 -4% thereof from own 616 677 -9% 1,916 1,980 -3% Russian feed Platinum, koz 156 163 -4% 489 513 -5% thereof from own 144 159 -9% 465 477 -3% Russian feed Polar division and Kola MMC (Russia) Nickel, t 41,106 47,456 -13% 140,326 163,230 -14% Polar division 6,510 20,700 -69% 50,860 71,936 -29% Kola division 34,596 26,756 29% 89,466 91,294 -2% thereof from 33,441 25,467 31% 86,600 89,556 -3% Russian feed thereof from 3d 1,115 1,289 -10% 2,866 1,738 65% parties feed Copper, t 83,614 88,364 -5% 257,638 263,857 -2% Polar division 64,356 73,923 -13% 211,042 217,529 -3% Kola division 19,258 14,441 33% 46,596 46,328 1% thereof from 17,321 12,393 40% 42,208 43,951 -4% Russian feed thereof from 3d 1,937 2,048 -5% 4,388 2,377 85% parties feed Palladium, koz 631 677 -7% 1,941 2,006 -3% Polar division 435 495 -12% 1,335 1,502 -11% Kola division 196 182 8% 606 504 20% thereof from 181 182 -1% 581 478 22% Russian feed thereof from 3d 15 0 - 25 26 -4% parties feed Platinum, koz 150 159 -6% 475 488 -3% Polar division 108 125 -14% 352 387 -9% Kola division 42 34 24% 123 101 22% thereof from 36 34 6% 113 90 26% Russian feed thereof from 3d 6 0 - 10 11 -9% parties feed Nickel concentrate (work-in-progress material) for Norilsk Nickel Finland 2 Nickel, t 9,247 4,044 129% 13,290 0 - Copper, t 1,696 598 184% 2,293 0 - Palladium, koz 5 1 400% 6 0 - Platinum, koz 26 6 333% 32 0 - Norilsk Nickel Finland (Finland)3 Nickel, t 14,676 10,487 40% 37,031 29,613 25% thereof from 5,262 736 615% 6,521 0 - Russian feed Copper, t 2,973 1,858 60% 6,409 9,462 -32% Palladium, koz 18 12 50% 39 61 -36% Platinum, koz 6 4 50% 14 24 -42% Norilsk Nickel Africa (South Africa and Botswana Tati Nickel 0 0 - 0 1,822 -100% nickel, t 4 thereof Tati 0 0 - 0 911 -100% Nickel nickel to 3d parties thereof Tati 0 0 - - 911 -100% Nickel nickel processed in the Company Nkomati (50%) 1,529 2,170 -30% 6,599 8,370 -21% nickel processed in the Company, t Tati Nickel 0 0 - 0 1,342 -100% copper, t 4 thereof Tati 0 0 - 0 671 -100% Nickel copper to 3d parties thereof Tati 0 0 - 0 671 -100% Nickel copper processed in the Company Nkomati (50%) 793 1,006 -21% 3,138 3,810 -18% copper processed in the Company, t Tati Nickel 0 0 - 0 10 -100% palladium, koz 4 thereof Tati 0 0 - 0 5 -100% Nickel palladium to 3d parties thereof Tati 0 0 - 0 5 -100% Nickel palladium processed in the Company Nkomati (50%) 8 10 -20% 31 38 -18% palladium processed in the Company, koz Tati Nickel 0 0 - 0 2 -100% platinum, koz 4 thereof Tati 0 0 - 0 1 -100% Nickel platinum to 3d parties thereof Tati 0 0 - 0 1 -100% Nickel platinum processed in the Company Nkomati (50%) 3 4 -25% 12 15 -20% platinum processed in the Company, koz
Notes:
¹Totals may value from sum of numbers as a result of rounding ²Production results are not included in totals as all concentrate is shipped to NN Harjavalta 3 Production results include processing of nickel concentrate from Nkomati and purchased materials 4 The assets was sold in Q2 2015
This announcement contains inside information in accordance with Article 7 of EU Regulation 596/2014 of 16 April 2014.
Full name and position of person making the announcement - Vladimir Zhukov, Vice - president, Investor Relations
ABOUT THE COMPANY
PJSC 'MMC NORILSK NICKEL' is a diversified mining and metallurgical company, the world's largest producer of refined nickel and palladium and a leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, selenium, ruthenium and tellurium.
The production units of 'NORILSK NICKEL' Group include Polar Division, located at the Norilsk Industrial District on Taimyr Peninsula, and Kola Mining and Metallurgical Company located on the Kola Peninsula in Russia as well as Harjavalta nickel refinery in Finland.
PJSC 'MMC 'NORILSK NICKEL' shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges. PJSC 'MMC 'NORILSK NICKEL' ADRs trade over the counter in the US and on the London and Berlin Stock Exchanges.
Media Relations: Investor Relations:
Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20
Email: pr@nornik.ru Email: ir@nornik.ru
---------------------------------------------------------------------------
The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg
---------------------------------------------------------------------------
Language: English Company: MMC Norilsk Nickel 1 st Krasnogvardeysky av., 15 123100 Moscow Russia Internet: www.nornik.ru ISIN: US55315J1025 WKN: A140M9 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt ; London, Nasdaq Category Code: QRT TIDM: MNOD Sequence Number: 3538 Time of Receipt: 31-Oct-2016 / 10:22 CET/CEST End of Announcement EquityStory.RS, LLC News Service ---------------------------------------------------------------------------
515837 31-Oct-2016
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