News // Metal market
Government Monopoly On Export of Platinum Group Metals is Over
08 December 2008 , 06:44940
The palladium and platinum reserves of Norilsk Nickel were classified as a state secret until 2005. The company did not have permits to export platinum, used in jewelry, for four months last year.
"We're happy with the further liberalization of the platinum market," Norilsk spokeswoman Maria Uvarova said by phone. "Platinum fits into our overall metal sales strategy and we don't foresee any issues arising from the changes."
Norilsk, whose biggest shareholder is billionaire Vladimir Potanin, is the also the world's biggest producer of nickel and the country's largest producer of copper.
In 2009, Norilsk expects to produce 73,992 to 74,417 kilograms of palladium, it said in a presentation on its web site.
The company warned last month that it would axe its dividend this year and cut its foreign output, warning that its net profit in 2009 might only be a quarter of this year's level.
17:20 18.03.2019PGNiG: increase in financial results in 2018 despite sudden fluctuations in energy markets
12:09 13.03.2019Gazprom stops transit of gas to Turkey through Bulgaria
10:11 12.02.2019Estonia's Paet: By supporting Nord Stream 2, Germany ignores energy independence principle
12:12 07.02.2019Gazprom maintaining effective cost optimization efforts