Norilsk Nickel said on Thursday that soaring metal prices and the sale of palladium stockpiles left over from 2020 had led to a 37 per cent jump in core earnings in 2021 from a year earlier.
The company is the world's largest producer of palladium and high-grade nickel. Earnings before interest, tax, depreciation and amortisation hit $10.5bn in fiscal 2021, up from $7.7bn the year before.
The company's performance was hurt last year when flooding halted production at two Arctic mines for several months. An accident at a processing plant last February also hampered production. The Oktyabrsky mine resumed full production in mid-May last year, but the Taimyrsky mine and the Norilsk concentrator only resumed production in December last year.
Nono's net profit for 2021 was $6.97 billion, up 92 percent from 2020.
