The year 2018 was marked by a favourable macro environment and a strong operating performance. The markets of almost all our core commodities except for platinum posted strong price gains, cost inflation was subdued as domestic inflation in Russia was low. Nornickel increased copper and palladium sales volumes by approximately 20% as well a realized tangible results from operating cost savings due to the implementation of a long-term efficiency program, including digitalization projects. Nornickel also generated maiden EBITDA of almost USD 100 million from its newly commissioned Bystrinskoye copper project.
Medium-term production outlook is available in the 2018 strategy update presentation (slide 28) disclosed on Nornickel’s website.
Sustainable PERFORMANCE HIGHLIGHTS
Nornickel has started the second phase of its environmental programme and launched infrastructure upgrades, digitalisation of data and other initiatives which comply and support with the long term national strategic priorities set by the Russian Federal Government.