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Nornickel's palladium fund to buy up to 500,000 oz in 2019 - CFO

Kitco News

MOSCOW, Aug 21 (Reuters) - Norilsk Nickel , the world's largest palladium producer, expects its Global Palladium Fund to purchase between 300,000 and 500,000 troy ounces of palladium in 2019, Sergey Malyshev, Nornickel chief financial officer, said on Wednesday.

Nornickel expects the fund's reserves to be at no less than 100,000 oz at the end of 2019, Malyshev told reporters in Moscow.

Nornickel's Global Palladium Fund buys the metal from existing stockpiles of other holders and then sells it to Nornickel's industrial consumers.

(Reporting by Anastasia Lyrchikova; writing by Polina Devitt. Editing by Jane Merriman)

Messaging: polina.devitt.reuters.com@reuters.net))

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