MMC Norilsk Nickel ("Group"), the largest mining company in Russia, produces four main metals - nickel, copper, palladium, and platinum and a variety of by-products, such as cobalt, rhodium, silver, gold, tellurium, selenium, iridium, and ruthenium. The Group is involved in prospecting, exploration, extraction, refining, and metallurgical processing of minerals and production, marketing, and sale of base and precious metals.
A global leader in base and precious metals production (1):
- World's leading producer of Nickel - 20% and Palladium (2) - 45%
- Top 4 producer of Platinum(2) - 11%
- One of the largest Copper producers - 2%
Notes:
(1) Data for 2010
(2) Excluding Stillwater Mining production
Unique mineral resources base with tremendous growth potential (1):
| |
Ore volume ('000 tonnes) |
Metal volume |
| Ni ('000 tonnes) |
Cu ('000 tonnes) |
Pd ('000 ounces) |
Pt ('000 ounces) |
6 PGM ('000 ounces) |
| Proved and provable ore reserves |
473,149 |
5,730 |
8,712 |
55,018 |
13,439 |
71,778 |
| Measured and indicated mineral resources |
1,868,738 |
10,436 |
16,331 |
135,730 |
38,804 |
182,588 |
Notes:
(1) The data on mineral resources and ore reserves as at 31 December 2009 is based on the results of the independent audit performed by Micon International Company Limited. The audit was conducted in accordance with the principles of the Joint Ore Reserves Committee (JORC) Code of the Australasian Institute of Mining and Metallurgy.
Stable production results:
| Metals produced by MMC Norilsk Nickel (1) |
Production volume |
| 2010 |
2009 |
2008 |
2007 |
2006 |
2005 |
2004 |
2003 |
2002 |
| Nickel ('000 tonnes) |
297 |
283 |
300 |
295 |
244 |
243 |
243 |
239 |
218 |
| Copper ('000 tonnes) |
389 |
402 |
419 |
423 |
425 |
452 |
447 |
451 |
450 |
| Palladium ('000 ounces) (2) |
2,861 |
2,805 |
2,821 |
3,113 |
3,164 |
3,133 |
- |
- |
- |
| Platinum ('000 ounces) (2) |
693 |
661 |
659 |
740 |
752 |
751 |
- |
- |
- |
Notes:
(1) Excluding Stillwater Mining Company production results.
(2) Until 2005 the information on the production of PGM by Norilsk Nickel Group in Russia was subject to state secrecy legislation. As a result of changes to the state secrecy laws made in 2005, the Group is now allowed to disclose current information on PGM.
Consolidated IFRS financial highlights of the Group (US dollars million)
| |
2010 |
2009 |
2008 |
2007 |
2006 |
2005 |
2004 |
2003 |
| Metal sales revenue |
12,126 |
8,075 |
11,799 |
15,909 |
11,550 |
7,169 |
6,591 |
5,196 |
| Gross profit on metal sales |
7,903 |
4,409 |
6,354 |
11,237 |
8,420 |
4,175 |
3,653 |
2,326 |
| Gross profit margin, % |
62 |
51 |
54 |
71 |
73 |
58 |
55 |
45 |
| Profit for the year from continuing operations |
5,234 |
2,504 |
(555) |
5,276 |
4,972 |
2,278 |
1,865 |
845 |
| Profit/revenue, % |
41 |
29 |
(5) |
33 |
43 |
32 |
28 |
16 |
| Earnings per share (US Dollars per share) |
18.8 |
14.9 |
(2.4) |
29.2 |
26.5 |
11.3 |
8.9 |
3.5 |
| Dividends per share (1) (US Dollars per share) |
6.4 |
6.8 |
- |
9.3 |
6.7 |
3.5 |
2.5 |
1.4 |
| Weighted average number of shares |
174.3 |
174.6 |
186.1 |
182.4 |
188.8 |
201.2 |
210.6 |
210.6 |
| Cash and cash equivalents |
5,405 |
3,632 |
1,995 |
4,008 |
2,178 |
922 |
1,346 |
954 |
| Investments in securities and other financial assets |
1 518 |
2,016 |
1,839 |
7,455 |
2,719 |
824 |
1,437 |
297 |
| Property, plant and equipment |
9,153 |
11,017 |
10,737 |
14,981 |
8,075 |
7,145 |
7,852 |
7,218 |
| Total assets |
23,909 |
22,76 |
20,823 |
35,696 |
16,279 |
14,730 |
13,632 |
11,253 |
| Short-term borrowings |
1,236 |
2,972 |
885 |
3,973 |
158 |
357 |
552 |
265 |
| Long-term borrowings |
1,561 |
2,345 |
5,609 |
4,103 |
632 |
635 |
657 |
169 |
| Total liabilities |
5,935 |
8,005 |
9,038 |
13,875 |
3,143 |
3,333 |
2,989 |
2,706 |
| Share capital and reserves |
17,974 |
14,755 |
11,785 |
21,821 |
13,136 |
11,397 |
10,643 |
8,547 |
Notes:
(1) At the rate of the Central bank of the Russian Federation at the date of announcement of the Board of Directors' recommendations to the General Meeting of the Company's Shareholders.
Key financial figures
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