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64NORILSK NICKEL • ANNUAL REPORT •200565••• Review of sales performance8.7In 2005, the Group sold its base metal through its own distributionnetwork in the external markets:Sales of metals produced by the Group(not including gold mining assets (Polus)('000 tonnes or as noted)Products 2005 2004 2003Nickel 244 250 308Copper 450 451 467Palladium ('000 ounces) 3,231 (1) – –Platinum ('000 ounces) 758 (1) – –<strong>Gold</strong> ('000 ounces) 162 135 147Note:(1) Until 2005 the information on the sales of PGM produced by Norilsk NickelGroup in Russia was subject to state secrecy laws. As a result of changes tothe law on state secrecy made in 2005, the Norilsk Nickel Group is now allowedto disclose both current information on PGM and information on past periodsbeginning from 18 February 2004. Information on the periods before that dateremains secret.NickelIn 2005, the Group sold 244,000 tonnes of nickel, an insignificantdecrease of sales volumes as compared to 2004 isexplained by the change in the current inventory in accordancewith the geographical structure of sales.CopperIn 2005, copper sales amounted to 450,000 tonnes, whichnearly corresponds to the level of sales in 2004.Palladium and platinumDespite a difficult market situation and a considerable surplusin the palladium market, sales policy enabled the Group tosell the volume of PGMs produced during 2005. Sales of palladiumand platinum produced by the Group in Russia amountedto 3,231 thousand and 758,000 ounces respectively.<strong>Gold</strong>The Group sold all the gold produced to commercial banksin Russia. Sales of gold produced by the Group (not includingPolus) increased in physical terms from 135,000 ouncesin 2004 to 162,000 ounces in 2005.Sales of Stillwater Mining CompanyIn 2005, Stillwater Mining Company sold a record 1.2 millionounces of PGMs from mine production and other PGMsactivities.MMC NORILSK NICKEL NOT INCLUDINGGOLD MINING ASSETS (POLUS)8Sales of metals produced byStillwater Mining Company('000 ounces)Products 2005 2004 2003Palladium 933 (1) 850 (1) 223Platinum 216 202 64Note:(1) Sales in 2005 include about 439 thousand ounces of palladium (2004: 375thousand ounces) delivered out of the inventory received in the 2003 NorilskNickel transaction. In the first quarter of 2006, Stillwater Mining Company completedthe sale of palladium received in the 2003 transaction.
66NORILSK NICKEL • ANNUAL REPORT •200567••• Commitment to environmental protection8.8In 2005, the Group performed the following activities in accordancewith the key provisions of the Group's EnvironmentalPolicy related to:• gradual reduction of pollutant emissions into the atmosphere;• consistent reduction of polluted wastewater discharge towater bodies; and• improvement of waste disposal sites in order to decreaseenvironmental impact.Taimyr PeninsulaIn 2005, the Group completed a number of major investmentprojects aimed at reducing atmospheric emission of pollutants,as part of the long-term production upgrade program.The key environmental result of the reconstruction and launchof the start-up complexes of the production lines of flashsmelters No. 1 and 2 at Nadezhda Metallurgical Plant, in additionto the increased efficiency of the gas purification equipment,is the creation of the ability for closing down the obsoletepyrometallurgic facilities at the Nickel Plant, which werea source of lean sulfur containing gases that were notreclaimable.In order to increase the productivity of the Copper Plant, theGroup completed reconstruction of production line No. 1 forthe production of elemental sulfur from rich gases from theVanyukov furnaces – a waste heat boiler and a catalyst wereinstalled. When the line reaches design capacity, they willreclaim additional amounts of gases and will reduce dioxideemission by 100 thousand tonnes per year.In 2005, the Gipronickel Institute completed the design workfor the reconstruction of production line No. 2 for sulfur productionat the Copper Plant; the implementation of this projectwithin the next several years will reduce sulfur dioxideemission in the atmosphere by the Copper Plant by 40% ascompared to the emission in 2005.In 2005, the Group increased the rate of reclamation fromwaste gases of the metallurgical facilities by 4.1% (by 7.2%at the Copper plant) as compared to the previous year. Sulfurdioxide emission per tonne of base metal produced decreasedby 3.8%. Total atmospheric emissions of pollutants werereduced by 2.9% as compared to 2004 (with the total emissionsof sulfur dioxide down by 2.8% and hard elements by5.0%). The efficiency of the operation of the gas and dustpurification facilities for the overall Taimyr Peninsula increasedto 98.96% (as compared to 98.95% in 2004).MMC NORILSK NICKEL NOT INCLUDINGGOLD MINING ASSETS (POLUS)8
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