Russia's Polyus Gold to sell gold on Shanghai Exchange

MOSCOW, Feb 10 (PRIME) -- Russia's leading gold producer Polyus Gold International plans to start gold sales on the Shanghai Gold Exchange though precious metals refiner Krastsvetmet, Sergei Belov, deputy CEO for refining at Krastsvetmet told reporters Tuesday.

He said that the company may receive a Good Delivery certificate from the exchange within a half a year. "Polyus Gold, as our customer, will be able to sell its gold bars under the Krastsvetmet brand at the Shanghai Exchange," Belov also said.

Polyus Gold refines all produced metal at Krastsvetmet.

Gulidov Krasnoyarsk Non-Ferrous Metals Plant, or Krastsvetmet, is wholly owned by the Krasnoyarsk Region government, refines more than 50% of all of Russia’s gold, 60% of the country’s silver and over 90% of platinum group metals.

End