RIA Novosti reports that in 2003 MMC Norilsk Nickel increased its sales profit by 68% as compared to 2002 up to $5196 mln. The main reasons for this growth are the increase of sales volumes, the growing prices of metals and Stillwater Mining Company finance results consolidation.

The net profit of MMC Norilsk Nickel in 2003 amounted to $861 mln – 47% growth as compared to 2002 ($584 mln). The total cost of metals sold grew up by 64% last year and was $2 870 mln.

MMC Norilsk Nickel is Russian largest producer of non-ferrous and precious metals. Its share in the world’s nickel production is 20%, cobalt – over 10% and copper – 3%.