What is effectively a State ban on exports of platinum and rhodium from Russia has now entered a fourth month. 

New legislation came into effect in January and did away with the quota system that had previously governed local platinum companies' exports. It is thought that this was intended to maintain state control of the industry's key companies, in particular Norilsk Nickel.

Control of platinum and rhodium exports is in the hands of a state-controlled body called Almazjuvelirexport (Almaz), which acts as the sole agent through which all trading of these metals must be conducted and which is perceived to be retaining a higher rate of commission.

Exports of palladium, however, remain unaffected by the ban since Norilsk Nickel are in possession of a licence issued by Almaz which allows it to continue exports for the next two years.

The head of Almaz Sergei Gorny, meanwhile, remains unavailable for comment.

Source:

Russian bar on platinum and rhodium exports still in place, 24/04/07
http://www.mineweb.net/mineweb/view/mineweb/en/page35?oid=20024&sn=Detail

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