Supplies of platinoids at Russia's pgm company Norilsk Nickel will cease to be a state secret according to the latest reports.

Taymyrskiy Telegraf reports that after months of wrangling the government has finally approved amendments to the law governing state secrets prepared by the ministry of finance.

The proposed bill will see precious metals such as platinum excluded from data that must be kept secret.

Russia's ministry of finance said the move was in line with the interests of precious metals and gemstones market liberalisation.

Moreover, it will have a positive impact on Russia's participation in the Kimberley process and the country's entry to the World Trade Organisation.

Analysts say they hope the news will mean the market becomes more transparent, more predictable and more attractive for foreign investments.

The ministry of finance has also reassured investors and backers that the move won't negatively influence Russia's economic situation and its security.

The bill will now go before the State Duma for further consideration, before becoming part of the country's law.