Norilsk Nickel has reported a sharp rise in its output of palladium and platinum in the second quarter of 2011.

The miner produced 744,000 troy ounces of palladium in Q2, up 63,000 oz or 9.3 per cent from the first quarter of 2011.

Total half-year output of palladium amounted to 1.425 million troy ounces.

Overall platinum output in the reporting period was 190,000 oz, an increase of 20,000 oz or 11.7 per cent on the first quarter of the year, taking the half-year production figures to 360,000 oz.

Norilsk Nickel's Kola and Polar Divisions in Russia accounted for the bulk of the palladium output at 711,000 oz for the quarter and 1.363 million ounces for the first six months of 2011.

The firm's Russian assets also produced the majority of platinum, 183,000 oz between April and June and 347,000 for H1, slightly surpassing the results of the first half of 2010.

In addition to the main Polar and Kola Divisions in Russia, Norilsk has assets in Finland, Botswana and South Africa.

The miner is the world's largest producer of nickel and palladium, and also has interests in copper.

Sources:

MMC NORILSK NICKEL ANNOUNCES PRELIMINARY CONSOLIDATED PRODUCTION RESULTS FOR 2ND QUARTER OF 2011 AND 1ST HALF OF 2011 (28/07/11)


Norilsk Nickel Q2 nickel output down 8.5 pct to 65,000 T (28.07/11) 

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