Norilsk Nickel reduces palladium production 9%, platinum 10% in Q3

MOSCOW. Oct 23 (Interfax) - MMC Norilsk Nickel produced 617,000 ounces of palladium in Q3 2025, down 9% from 676,000 ounces a year earlier, the company said.

Platinum production came to 149,000 ounces, down 10% from 165,000 ounces in the same period last year.

Palladium and platinum production fell 6% and 7% year-on-year to 2.016 million ounces and 484,000 ounces, respectively, in January-September 2025. As with base metals, this is due to the transition to new mining equipment and changes in the composition of mined ore.

The company reiterated its 2025 platinum-group metals production guidance, adjusted in the middle of the year. Palladium production is expected to be 2.677-2.729 million ounces, down 1% from previous guidance of 2.704-2.756 million ounces, and platinum 645,000-662,000 ounces, down 2.2% from the previous forecast of 662,000-675,000 ounces.