The move allows Norilsk?s unit to by-pass banks that have so far carried out precious metals export operations for domestic producers, charging up to 5 percent commission on any sale.
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Russia's Top Gold Maker To Export Gold To Switzerland
Russian metals giant Norilsk Nickel's gold production arm Polyus Company said on Tuesday it would export...
Russian metals giant Norilsk Nickel?s gold production arm Polyus Company said on Tuesday it would export 15 tons of gold in 2005 under its first export contract with Swiss bank Credit Suisse.
Polyus said in a statement it had agreed the sale with Credit Suisse after receiving a licence from the Economy Ministry to start its first direct gold exports.
It did not revealed the value of the deal which it said would be determined by London?s Exchange fixing of gold price.
The move allows Norilsk?s unit to by-pass banks that have so far carried out precious metals export operations for domestic producers, charging up to 5 percent commission on any sale.
The move allows Norilsk?s unit to by-pass banks that have so far carried out precious metals export operations for domestic producers, charging up to 5 percent commission on any sale.
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