| Other Photos |
 |
|
 |
Putin Sanctions to Export Platinum, Diamonds
Russia’s enterprises are authorized to export platinum again. The sanction is given in Putin’s Decree on Improving Government Control of Importing/Exporting to/from the RF the Precious Metal and Stones, Interfax reported.
The five-year quotas of Russia’s biggest precious metal producer, Norilsk Nickel, expired December 31, 2006, forcing the giant to suspend the platinum export.
The recently signed decree of Vladimir Putin authorizes a company to export from Russia natural diamonds, affined platinum and platinum-group metal with no quantity restrictions whatsoever. The only thing needed for this undertaking is the license of the RF Economic Development Ministry.
Of interest is that once the decree took effect on January 11, the middle producers of platinum also got direct access to the export, Vremya Novostey reported. Earlier, ALROSA and Norilsk Nickel called for dropping the benefits.
Norilsk Nickel is the world biggest producer of nickel and palladium and one of the major producers of copper. The company also mines cobalt, rhodium, silver, gold, tellurium, selenium, iridium and ruthenium.
The biggest minor of Russia’s diamonds is ALROSA, which is the world second in terms of the diamond production, covering 23 percent of the global market.
www.kommersant.com
|
|
|
