OREANDA-NEWS. In 2007 MMC “Norilsk Nickel” informed that nickel production is expected at 240 to 245 thousand metric tons. Forecasted 2007 production of copper from own sources is estimated at 404-409 thousand metric tons.

According to the press service of Norilsk Nickel, Tav Morgan, Deputy General Director of MMC Norilsk Nickel informed about it.

Palladium production is expected in the range of 3.00-3.05 million ounces (93-95 metric tons), and platinum production in the range of 700-710 thousand ounces (around 22 metric tons).

Lower 2007 expected production volumes, in comparison with 2006 actual production figures, result from large-scale reconstruction work in accordance with the Company production strategy approved in June 2006. It includes: Changing skip hoists at Komsomolsky mine; Reconstruction of the Norilsk Beneficiation Plant in order to increase processing of disseminated ores and stockpiled pyrrhotine concentrate.

2006 actual production figures and expected nickel, copper, palladium and platinum production volumes are related only to the production results of the Polar Division and Kola MMC.

On 20 November 2006 MMC Norilsk Nickel announced that is had entered into a definitive agreement to purchase the nickel business of OM Group, Inc. The transaction is expected to close in the first quarter of 2007. As a result of the transaction, the Norilsk Nickel Group will extend its product line to include nickel salts and briquettes and increase its yearly production of attributable nickel by approximately 35,000 to 40,000 tons.