China’s SGE gives Russia’s Krastsvetmet access to trade

MOSCOW, Sep 8 (PRIME) -- The Shanghai Gold Exchange has given Russia’s Gulidov Krasnoyarsk Non-Ferrous Metals Plant, or Krastsvetmet, the status of a certified gold ingot supplier, a representative of the Russian gold makers’ trade union Sergei Kashuba told reporters on Thursday.

“We are glad that the first Russian refinery has received the status of a certified gold ingot supplier for sales on the SGE. This way, the green light is set for any Russian producer, any Russian bank to sell ingots made at Krastsvetmet to Shanghai directly,” Kashuba said.

Krastsvetmet has an about 63% share of the Russian gold processing market. Production from the Russian raw materials amounted to185 tonnes in 2015.

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