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Tuesday July 31, 10:51 PMNorilsk raises 2007 nickel output forecastMOSCOW, July 31 (Reuters) - Russian metals giant Norilsk Nickel said on Tuesday it had increased its 2007 nickel output forecast to 295,000-300,000 tonnes from the earlier 270,000-275,000 tonnes due to acquisition of new assets.It said in a statement that the increase came on the back of the acquisition of Harjavalta nickel refinery in Finland from the U.S.-based OM Group in March and winning control of the world's 10th nickel producer LionOre in July 2007. The firm kept its output forecast for copper, palladium and platinum unchanged. It has said it will produce 404,000-409,000 tonnes of copper, 3.00-3.05 million ounces of palladium and 700,000-710,000 ounces of platinum this year. The world's No.1 nickel and palladium producer said the acquisitions allowed it to raise its nickel output to 71,000 tonnes in the second quarter of this year from 61,000 tonnes in the second quarter of 2006 and first quarter of 2007. Copper output was 100,000 tonnes in March-June 2007, down from 109,000 tonnes in the same period of 2006 and from 101,000 tonnes in the first three months of 2007. Palladium output declined to 806,000 ounces in the second quarter of this year from 881,000 ounces a year ago and rose from 716,000 ounces in the first quarter of 2007. Platinum output was 195,000 ounces, compared to 215,000 ounces a year ago and 169,000 ounces in the first quarter of this year. The palladium and platinum figures did not include output by Norilsk's U.S. subsidiary Stillwater Mining Co . |
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