The gold unit of Russian metals giant Norilsk Nickel has received a licence from the Economy Ministry allowing it to start its first direct gold exports, a source in the company said on Monday. The move would allow Russia's top gold producer to bypass banks that have so far carried out precious metals export operations for domestic producers, charging up to five percent commission on any sale.
The source declined to say how much Polyus wanted to sell and when exports were expected to start.