Norilsk Nickel increased its revenue from sales figure by 39 percent in the first three quarters under Russian accounting standards. The revenue totaled RUR 214.371 billion, according to the company’s performance statements.

The revenue from sales of metals rose by a whole 40 percent to end at RUR 209 607 million. One of the reasons for the increase in revenue is the surge in the price of metal products on global markets. Also, the cost of metal production decreased by 1.7 percent to RUR 59 563 billion.  

In the three quarters of the year, nickel accounted for 41.33 percent of the company’s revenue, or RUR 88.59 billion. By comparison, in the first three quarters of 2009, nickel accounted for 42.88 percent of the revenue. The share of copper in the company’s overall sales was 26.6 percent. Total copper sales stood at USD 57.024 billion. Platinum and platinum alloys accounted for 10.75 percent, with total sales of RUR 23.04 billion. Palladium sales reached RUR 28.919 billion and comprised 13.49 percent of the total revenue. 

In all, the company’s net profit under Russian accounting standards was RUR 114.159 billion in the first three quarters. By way of comparison, in the first quarter of 2009, the profit was only RUR 65.640 billion. 

The financial statistics presented above are non-consolidated, as they include only the performance breakdown of Norilsk Nickel Arctic. The results of the Russia-based Kola Mining Company, as well as the results of Norilsk Nickel’s assets in Australia and Finland, the performance results for the U.S.-based Stillwater Mining and Canadian LionOre are not factored into this analysis.

Overall, the largest Russian nickel-mining company and its subsidiaries – exclusive of the U.S.-based assets – increased the production of nickel by 6 percent to 220 000 tons during the first three quarters. Copper production was held at 295 000 tons. The output of palladium increased 8 percent to reach 2.215 million ounces. Platinum production rose by 9 percent to 531 000 ounces.