29 Apr 2016 12:45
MMC Norilsk Nickel / Miscellaneous - High PriorityMMC Norilsk Nickel: NORILSK NICKEL ANNOUNCES 1Q 2016 CONSOLIDATED PRODUCTIONRESULTS 29-Apr-2016 / 12:45 CET/CESTDissemination 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. --------------------------------------------------------------------------- NORILSK NICKEL ANNOUNCES 1Q 2016 CONSOLIDATED PRODUCTION RESULTS Moscow, April 29, 2016 - PJSC MMC Norilsk Nickel (hereinafter - «NorilskNickel» or «the Company»), the world's largest nickel and palladiumproducer, announces preliminary consolidated production results for thefirst quarter of 2016. Nickel 1Q16 consolidated nickel production amounted to 64 kt decreasing 6%year-on-year (y-o-y). Nickel output from the Company's own Russian feedreached 52 kt, down 5% y-o-y. The decrease was driven mostly by the ongoingreconfiguration of downstream production facilities at Polar division,increase of work-in-progress materials in transit and reduction oflow-margin tolling operations at Kola MMC. Copper 1Q16 consolidated copper production amounted to 87 kt decreasing 3% y-o-y.Copper output from the Company's own Russian feed reached 85 kt, down 1%y-o-y. The reduction was mainly attributed to lower copper content in minedore. Platinum Group Metals 1Q16 consolidated palladium and platinum output amounted to 642 koz (up 1%y-o-y) and 171 koz (up 4% y-o-y), respectively. Palladium output from theCompany's own Russian feed reached 626 koz (up 5% y-o-y), platinum outputamounted to 164 koz increasing 9% y-o-y. The increase was attributed to theprocessing of the work-in-progress materials. Russian operations In 1Q16, Polar and Kola divisions combined nickel output decreased 6% y-o-yto 52 kt. Nickel production in Russia decreased due to several reasons: - the increase of work-in-progress materials in transit due to downstream reconfiguration at Polar division; - lower nickel content in mined ore at Polar division; - reduction of low-margin tolling operations at Kola MMC; In 1Q16, copper output in Russia stayed almost flat y-o-y at approximately86 kt. The reduction of the production volumes from the Company's ownRussian feed at Kola MMC and minor increase of production from third-partyfeed was attributed to lower copper content in nickel matte delivered fromPolar division. In 1Q16, in Russia the output of palladium increased 4% y-o-y to 633 kozand the production of platinum increased 7% y-o-y to 167 koz, driven by theprocessing of work-in-progress materials. The output increase at Kola MMCfrom the Company's own Russian feed was attributed to processing of coppercake containing PGMs received from Norilsk Nickel Harjavalta. Norilsk Nickel Finland In 1Q16, Norilsk Nickel Harjavalta produced approximately 12 kt of nickel,up 4% y-o-y. The increase was driven by concentrate from third parties andtrial processing of Russian feed. In 1Q16, copper output amounted to approximately 2 kt, down 37% y-o-y. Thereduction was attributed to scheduled shipment of copper cake forprocessing to Kola MMC. In 1Q16, Norilsk Nickel Harjavalta decreased the production of saleablepalladium by 51% y-o-y to 9 koz and saleable platinum by 46% y-o-y to 4koz, due to scheduled shipment of copper cake containing PGMs to Kola MMC. Norilsk Nickel Nkomati In 1Q16, the production of nickel in concentrate (reported on a 50%-basis)increased 14% y-o-y to 3 kt owing to higher nickel content in processedore. Norilsk Nickel confirms that it is on track to meet its 2016 metalproduction guidance from Russian feed: 2016 Production Guidance (from Russian feed) METALS SALEABLE METALS INCREASE OF WORK-IN-PROGRESS MATERIALS IN TRANSITNi, kt 206-212 15-19Cu, kt 342-352 4-6Pd, koz 2,296-2,392 231-243Pt, koz 542-586 55-59 NORILSK NICKEL SALEABLE METALS PRODUCTION 1Q 2016 1Q 2015 Q-o-QTOTAL METAL PRODUCTION¹Nickel, tonnes 63,631 67,437 -6%from own Russian feed 51,873 54,358 -5%Copper, tonnes 87,255 89,532 -3%from own Russian feed 85,257 86,054 -1%Palladium, koz 642 633 1%from own Russian feed 626 596 5%Platinum, koz 171 164 4%from own Russian feed 164 151 9%NORILSK NICKEL POLAR AND KOLA DIVISIONS(RUSSIA)Nickel, tonnes 51,764 55,078 -6%Polar division 23,650 24,889 -5%Kola division 28,114 30,189 -7%from Russian feed 27,692 29,469 -6%from 3d parties feed 422 720 -41%Copper, tonnes 85,660 86 346 -1%Polar division 72,763 71,873 1%Kola division 12,897 14,473 -11%from Russian feed 12,494 14,181 -12%from 3d parties feed 403 292 38%Palladium, koz 633 610 4%Polar division 405 461 -12%Kola division 229 149 53%from Russian feed 222 135 65%from 3d parties feed 7 15 -54%Platinum, koz 167 156 7%Polar division 119 124 -4%Kola division 48 32 48%from Russian feed 45 26 72%from 3d parties feed 3 6 -56%Norilsk Nickel Finland²Nickel, tonnes 11,867 11,448 4%from Russian feed 531 0 -Copper, tonnes 1,595 2,515 -37%Palladium, koz 9 18 -51%Platinum, koz 4 7 -46%Norilsk Nickel AfricaTati Nickel, tonnes 0 1,822 -thereof nickel to 3d parties 0 911 -thereof nickel processed in the Company 0 911 -Nkomati (50%) nickel processed in theCompany, tonnes 2,900 2,539 14%Tati Nickel copper, tonnes 0 1,342 -thereof copper to 3d parties 0 671 -thereof copper processed in the Company 0 671 -Nkomati (50%) copper processed in theCompany, tonnes 1,339 1,260 6%Tati Nickel palladium, koz 0 10 -thereof palladium to 3d parties 0 5 -thereof palladium processed in the Company 0 5 -Nkomati (50%) palladium processed in theCompany, koz 13 13 0%Tati Nickel platinum, koz 0 2 -thereof platinum to 3d parties 0 1 -thereof platinum processed in the Company 0 1 -Nkomati (50%) platinum, processed in theCompany, koz 5 5 0% Notes: ¹Totals may vary from the sum of numbers due to arithmetical rounding ²Production results include processing of nickel concentrate from Nkomatiand purchased materials For further information, please, contact: Media Relations: Investor Relations: Phone: +7 (495) 797 82 94 Phone: +7 (495) 786 83 20 Email: pr@nornik.ru Email: ir@nornik.ru ABOUT NORILSK NICKEL: Public Joint-Stock Company Mining and Metallurgical Company Norilsk Nickelis a diversified mining and metallurgical company, the world's largestproducer of nickel and palladium and a leading producer of platinum,cobalt, copper and rhodium. In addition, the Company produces gold, silver,iridium, selenium, ruthenium and tellurium. The production units of Norilsk Nickel are located in Russia at the NorilskIndustrial District and on the Kola Peninsula, as well as in Finland. Norilsk Nickel's shares are listed on the Moscow and on theSaint-Petersburg Stock Exchanges. Norilsk Nickel ADRs trade over thecounter in the US and on the London and Berlin Stock Exchanges. --------------------------------------------------------------------------- 29-Apr-2016 The EquityStory.RS, LLC Distribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.Media 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: MSCH TIDM: MNOD Sequence Number: 3128 Time of Receipt: 29-Apr-2016 / 12:45 CET/CEST End of Announcement EquityStory.RS, LLC News Service --------------------------------------------------------------------------- 459249 29-Apr-2016UK-Regulatory-announcement transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.