Operational performance

Sergey Dyachenko First Vice-President – Chief Operating Officer

In 2019, the Company increased the output of all key metals as a result of improved operating efficiency, optimization of production flow and ongoing ramp-up of Bystrinsky project. Total nickel output increased 5% year-on-year to 229 kt owing to the ramp-up of the refining shop operating new chlorine leaching technology and expansion of carbonyl nickel production capacity at Kola MMC. Total copper output increased 5% year-on-year to a record of 499 kt driven by improved operating efficiency, increased mined ore volumes and higher copper grades at Talnakh mines as well as the ramp-up of Bystrinsky (Chita) project that was fully commissioned in September 2019. Palladium and platinum output increased 7% and 8% year-on-year to 2.9 moz and 0.7 moz, respectively, owing primarily to the release of work-in-progress inventory.