INSUBCONTINENT EXCLUSIVE:
decline to lower market prices for nickel and platinum group metals
The cost of sales rose to 580.3 billion rubles ($6 billion) in 2024 versus 543.65 billion rubles ($5.6 billion) in 2023, putting pressure on
Debt financing costs also increased to 83.4 billion rubles ($869 million).As expected, the management will not recommend to the board of
website that the company will not be paying dividends in the foreseeable future.The dividends will not be paid until Nornickel moves to
positive free cash flow (FCF), as Nornickel has no intention to borrow under record-high financing costs to pay the dividends, Potanin said
At the same time, copper output increased by 2% y/y to 0.43 million tons
Palladium and platinum production increased by 3% and 1% y/y to 2,762 and 667,000 ounces respectively.Nornickel also slightly raised its
production forecast for 2025, now expecting the output to be virtually flat as compared to 2024.This article first appeared in bne
