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Investing.com -- Russian mining giant Nornickel has reduced its production forecasts for 2025, the company announced Monday.
Nornickel, one of the world’s largest nickel producers and the leading global producer of palladium, lowered its 2025 nickel production guidance to 196,000-204,000 metric tons from the previous forecast of 204,000-211,000 tons.
The company also cut its palladium output forecast for 2025, now expecting between 2.677 and 2.729 million ounces, down from the earlier projection of 2.704-2.756 million ounces.
In its second-quarter operational results released alongside the revised forecasts, Nornickel reported nickel production of 45,000 metric tons and palladium output of 658,000 ounces.
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