off-the-wire

Russian miner Nornickel says 2022 EBITDA down 17% to $8.7 bln

Kitco Media
By Reuters
Published:
Updated:
Reuters



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This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine


MOSCOW, Feb 10 (Reuters) - Russian mining giant Nornickel said on Friday that its earnings before interest, tax, depreciation and amortisation (EBITDA) fell 17% year-on-year in 2022 to $8.7 billion, as it grappled with a drop in sales and higher operating costs. Nornickel is the world's largest producer of palladium and refined nickel. While it has not been directly targeted by Western sanctions over the conflict in Ukraine, it has faced problems importing equipment and transporting goods abroad. (Reporting by Reuters)

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