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
moves to positive free cash flow (FCF), as Nornickel has no intention to borrow under record-high financing costs to pay the dividends,
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
