Nornickel Reports Q3 Output Up 9%, Announces Investment

Russia’s Norilsk Nickel (Nornickel) said on Wednesday its consolidated nickel production was at 53,739 tonnes in the third quarter of 2018, up 9 percent quarter-on-quarter, reported.

Nornickel, one of the world’s largest nickel and palladium producers, also said its palladium production totalled 699,000 troy ounces, down 14 percent quarter-on-quarter. Platinum output fell 10 percent to 178,000 troy ounces, the company said.

Nornickel also announced that an investment project on installation of fuel recording and consumption control systems on vessels of the Yenisei Shipping Company will require about 43 million rubles ($655,100).

“The project is intended for 2017-2019; about 88 vessels of the shipping company are planned to be outfitted with systems. The project budget is about 43 mlnrubles ($655,100),” the press service said.

The project is implemented by Norilsk Nickel, the majority shareholder of the Yenisei Shipping Company. Such systems were mounted on 12 vessels in 2017 and 36 more are planned to be outfitted this year.

The new system makes it possible to monitor the quantity of received and fed fuel, its temperature and level in day tanks, and engine operating time. This enables “carrying technically and financially sophisticated policy in the area of efficient fuel use on board of vessels,” the shipping company said.

The Yenisei Shipping Company is the largest carrier of freight on waterways of the Yenisei basin. The company has the largest bulk carrier and tanker fleet.