Thursday, 28th April 2005 (3120 views)

Polyus has announced it has started exporting its first set of gold assets as part of an agreement with Credit Suisse.

Under the agreement Polyus will deliver 15 tonnes of gold to Switzerland, which will go directly to the buyer's vault in Zurich.

The first set of 500 kilograms of gold has now been set under direct export, according to Interfax.

Each payment or export is based on gold prices in London.

The gold exports are covered under a license received from the Russian Economic Development and Trade Ministry in March this year.

Polyus manages the gold production assets of Russian mining giant Norilsk Nickel.

 

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