He added that direct exporting would help the company cut export costs because the present system involved banks charging up to 5 percent commission on exports.
Polyus produced about 34 tons of gold last year.
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Norilsk Gold Goes To Export
Norilsk Nickel's gold production unit Polyus said Tuesday it was ready to launch direct gold exports
Russian metals giant Norilsk Nickel?s gold production unit Polyus said Tuesday it was ready to launch direct gold exports to international markets.
"Our first export contract has been signed and is ready. We have not got the licence (from Russian authorities) but once we get it our first export contract will be launched," Yevgeny Ivanov, president of Norilsk Nickel's Polyus gold unit, told a metals conference in Moscow.
According to Mr Ivanov, the company plans to produce 1.09 million ounces of gold in 2005, roughly the same as last year.
He added that direct exporting would help the company cut export costs because the present system involved banks charging up to 5 percent commission on exports.
Polyus produced about 34 tons of gold last year.
He added that direct exporting would help the company cut export costs because the present system involved banks charging up to 5 percent commission on exports.
Polyus produced about 34 tons of gold last year.
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