Russia's largest nickel maker, Norilsk Nickel, plans to raise production by 50 percent and copper output by 150 percent by 2025, General Director Vladimir Strzhalkovsky said late on Thursday.
The company plans to participate in new foreign projects to reach the goal and diversify its products line-up in next 15 years. Norilsk has already has assets in Botswana, South Africa, Finland and Australia.
"This is why we are examining several projects in South America, Africa, Indonesia and Southeast Asia which will allow us to raise copper production by ... 2.5 times and nickel production by 1.5 times by 2025," Strzhalkovsky told Rossiya 24 TV channel.
Norilsk Nickel also wants to increase production of platinum-group metals by 90 percent in the next 15 years as prices will grow in future.
"Market prices on palladium, which has the same qualities as platinum but costs less, will also go up," he added.
The Russian company signed a memorandum of understanding with Indonesia's PT Nusantara Smelting Corp. in May 2011 to build a copper plant with up to 400,000 tons in capacity and infrastructure to develop nickel and copper ore deposits in the Southeast Asian country.
Last October, Strzhalkovsky said the company had planned large investments in Indonesian projects.