* Norilsk sees ’12 nickel output at least 295,000 tonnes
* Palladium output seen above 2.6 million ounces
* Analysts says no major growth catalysts in short term
* Shares off 1.7 pct in Moscow, underperforming MICEX
(Adds analyst comments, share price)
By Alfred Kueppers
MOSCOW, Jan 30 (Reuters) – Russia’s Norilsk Nickel
said on Monday its nickel output could recover
slightly this year, although analysts said the world’s largest
producer of nickel and palladium could delay ramp-ups of its
international operations on cost concerns.
For 2012, Norilsk forecast nickel output at 235,000 to
240,000 tonnes at its Russian divisions and 60,000 to 65,000 at
the international operations.
That adds up to as much or more than its total nickel output
in 2011 at 295,000 tonnes, which was down 0.8 percent from the
previous year, including contributions from operations in
Australia, Finland, Botswana and South Africa.
The Russian metals giant, which takes its name from a mining
town above the Arctic circle, is expected to keep Russian output
high, given that its Kola and Polar units have a negative
production cost thanks to their output of copper, platinum and
palladium as by-products.
Continued…
