Vladimir Strzhalkovsky, chief executive of Russia’s Norilsk Nickel, said on Friday that the company expects to report net profit of about $2 billion in 2009, which has allowed it to pay down debts of $1.25 billion.
According to the transcript of a meeting between Mr Strzhalkovsky and Russian Prime Minister Vladimir Putin, Norilsk will invest $2 billion into its Russian plants although no timescale has been given. Norilsk increased salaries for its employees by 10 percent from 1 January.
In a separate development Norilsk has forecast increased nickel production of as much as 9 percent with output estimated at between 299,000 and 309,000 metric tonnes compared with 282,900 in 2009.
Copper output in 2010 is expected to fall to 393,000 to 398,000 metric tonnes, down from 402,000 tonnes last year.
Palladium output will be little changed at 2.73 to 2.805 million ounces, and platinum will fall 5 percent to 690,000 to 695,000 ounces.
Norilsk is the world's biggest nickel and palladium producer.
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