Norilsk Nickel reported production results for the first quarter of 2013. The company produced 588,000 oz of palladium in the first quarter of 2013, 9% less than in the same period last year. Output of platinum totaled 140,000 oz, 15% less year-on-year. The decline in PGM output is due to the volume of metal in the unfinished production stage.

The company provided production guidance for the second quarter and full year of 2013. The company plans to make up the production shortfall in the second quarter.

The company plans to produce 2.625 million to 2.64 million oz of palladium in 2013, 3.3% to 4% less than the 2.731 million oz produced in 2012, and 655,000 oz to 670,000 oz of platinum, 2% to 4% less.