The Company Left Its 2022 Production Forecast Unchanged

Russian metals producer Nornickel's first-half nickel and palladium production rose year-on-year, helped by the resumption of production at two mines hit by floods in 2021.

Nornickel, the world's largest producer of palladium and refined nickel, kept its previous 2022 production forecast unchanged despite difficulties caused by Western sanctions against Moscow over Ukraine.

"One of the main risks that could affect our production schedule remains the supply disruption of high-performance equipment and spare parts," Chief Operating Officer Sergei Stepanov said in a statement.

He added that the miner was exploring the ability of domestic companies to supply materials and equipment to meet the needs of Nornickel and other large companies in Russia.

Nornickel's January-June nickel production rose 26 percent from a year earlier to 99,951 tonnes, while copper production rose 18 percent to 203,930 tonnes.