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Norilsk profits slump

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Norilsk profits slump

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Russia’s Norilsk has announced sharply lower profits for the last six months, but the world’s largest miner of nickel and palladium performed better than industry analysts has expected.

According to its website, net profit was 294 million euros; that is 84 percent down from the same period a year earlier, due to low metals prices. Norilsk also suffered from the appreciation of the dollar against the rouble.