RIA Novosti reported that Russia's largest nickel maker Norilsk Nickel plans to raise production by 50% and copper output by 150% by 2025.

Mr Vladimir Strzhalkovsky general director of Norilsk Nickel said that the company plans to participate in new foreign projects to reach the goal and diversify its products line up in next 15 years. Norilsk has already has assets in Botswana, South Africa, Finland and Australia.

He added that "This is why we are examining several projects in South America, Africa, Indonesia and Southeast Asia which will allow us to raise copper production by 2.5 times and nickel production by 1.5 times by 2025."

He said that Norilsk Nickel also wants to increase production of platinum group metals by 90% in the next 15 years as prices will grow in future. He added that "Market prices on palladium, which has the same qualities as platinum but costs less, will also go up."

The Russian company signed a memorandum of understanding with Indonesia's PT Nusantara Smelting Corporation in May 2011 to build a copper plant with up to 400,000 tonnes in capacity and infrastructure to develop nickel and copper ore deposits in the Southeast Asian country.

In October 2011, Mr Strzhalkovsky said that the company had planned large investments in Indonesian projects.

(Sourced from www.ria.ru)