A senior executive at Norilsk Nickel has revealed that the mining company is seeing a continued escalation in the demand for its precious metals.

According to Norilsk's deputy general director for production, Tav Morgan, the firm is selling almost all the precious metals it produces as it tries to keep up with demand.

Speaking to Reuters, Mr Morgan explained that the Asian jewellery industry is continuing to be a strong market for its precious metals.

"There is a demand supply squeeze going on and we see other producers struggling to keep supply stable," he explained.

Looking at the palladium market in particular, Mr Morgan added that the sustained demand from Asian jewellers "will continue to challenge us in production".

However, he insisted: "Norilsk is ready to supply the market and is working to improve its operations and the recoveries of pgms."

Ÿ Adfero Ltd