Finnish multi-metal producer Terrafame’s nickel production in 2020 increased by 4.6pc to 28,740mt compared to 2019 and zinc output trended flat at 55,100mt compared to 55,222mt during the same period.
The company expects metal price uncertainties to prevail throughout 2021. It plans to invest more in improving its safety culture, production, and cost-effectiveness through the year, Terrafame said in a statement.
Terrafame’s 2020 nickel production was down from its annual full capacity levels of 30,000mt and its zinc output was also lower than its capacity of 60,000mt per year.
Its net sales increased by 9pc last year to €338.2mn ($396.2mn) compared to €310.4mn in 2019. The company’s EBITDA dropped €23.8mn last year compared to €32mn in 2019.
(€1=$1.18)