Norilsk Nickel Group revenue witnesses 6-time reduction, first half 2009
As per results of consolidated preliminary report, in the first six months 2009 Group and its affiliates reported revenue decreased by 6 times (down to $439 million) as compared to the corresponding period figures of previous year.
Group profit decreased by 51% ($4 billion 078 million) within the reporting period as compared to the corresponding period of 2008. Within first six months of EBITDA corrected figure 2009 decreased from $4 billion 327 million to 1 billion 398 million.
Norilsk Nickel GMK OJSC is the world’s largest producer of nickel and palladium and one of the leading producers of platinum and copper. It also produces various by-products, such as cobalt, chromium, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium and sulfur. The Group is involved in prospecting, exploration, extraction, refining and metallurgical processing of minerals, as well as in production, marketing and sale of base and precious metals.
The main Russian production units are vertically integrated and include the Polar Division (“the Taimyr Peninsula”) and the Kola Mining and Metallurgical Company (“Kola MMC” or “the Kola Peninsula”).