Norilsk Nickel said today (January 30th) that fourth quarter platinum and palladium production increased compared to a year ago.

Platinum output in Q4 was 162,000 oz, up from 161,000 oz the same period in 2010, while palladium production rose from 645,000 oz to 702,000 oz over the same time span.

Total platinum output for the year hit 695,000 oz, which the firm expects to match in 2012 with between 650,000 oz and 660,000 oz in Russia and around 20,000-25,000 oz from its international divisions.

Palladium output for 2011 was 2.81 million ounces in total, down two per cent from 2010, according to Reuters.

The world's largest palladium producer forecasts output of the metal to stay broadly flat this year, at between 2.6 million and 2.65 million ounces from its Russian divisions and 95,000-100,000 oz from abroad.

Sources:

Norilsk sees '12 nickel, palladium output flat (30/01/12)

DJ Norilsk Nickel 4Q Nickel Output Rises 3% To 79,616 Tons (30/01/12)

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