OREANDA-NEWS. Palladium sales by OJSC “Norilsk Nickel” and its subsidiaries increased by 38% from USD 914 million in 2005 to USD 1,265 million in 2006, the consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”) goes.

Palladium sales excluding sales of Stillwater Mining Company have increased by 56% from USD 661 million in 2005 to USD 1,033 million in 2006.

In physical terms, sales of palladium produced by the Group in Russia amounted to 3,220,000 ounces in 2006, which is practically the same as sales for 2005, which amounted to 3,231,000 ounces.

The palladium sales by Stillwater Mining Company have decreased by 8% from USD 253 million in 2005 to USD 232 million in 2006.

The decrease in revenue is explained by a 31% decrease in physical volumes of sales, which was due to the sales in the previous periods of metal received by the company from the Group as part payment for the purchase of Stillwater Mining Company shares, and an increase in the sales of palladium received from processing scrap.

In 2006, Stillwater Mining Company sold 648,000 ounces of palladium, including 63,000 ounces of palladium received from the Group in 2003 (as compared to 933,000 ounces in 2005, including 439,000 ounces received from the Group in 2003). The decrease in the physical volume of sales was offset by the increase in the sales price.