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30

Norilsk Nickel Notes Revenue Increase

Norilsk Nickel has released its financial results for 2004, announcing a 31 percent increase

Russia?s metals giant Norilsk Nickel has released its financial results for 2004, announcing a 31 percent increase in its platinum sales revenue.

The company may not legally reveal data on the amount of precious metals produced in Russia, although it can share information by its US subsidiary Stillwater Mining.

Additional figures show that palladium sales revenue increased by 57 per cent to $1 billion, with platinum sales revenue reaching $706 million during the period ending December 31st 2004.

In total, Norilsk sold 202,000 ounces of platinum through Stillwater and 850,000 ounces of palladium.