Norilsk Mining has announced that it expects to increase its output of platinum group metals (pgms) over the coming months.

The company has stated that it now forecasts its palladium output for 2005 to be 3.08 million ounces, up from 3.0 million ounces, while it expects its platinum production to increase by 30,000 ounces compared to its previous estimate.

That will take the company's platinum output up to 730,000 ounces and Norilsk's figures have been boosted by 198,000 ounces of platinum and 840,000 ounces of palladium being produced during the third quarter of this year.

Figures for previous years are not available, as they were guarded as a state secret, but in September this year the company said it was on target to meet its previous forecast, as it looked to "improve its disclosure and transparency standards".

News of the improved forecast for pgm production comes as the company's deputy general director, Denis Morozov, told Reuters that the group is planning a major new production strategy.

He commented: "Our production people are working on a plan now, but they have to take into consideration many different factors."


Ÿ Adfero Ltd