N e w s

As it became known to Kommersant, the double storage certificate of Gokhran (DSS) N1 was acquired by a closed JSC Koryakgeoldobycha, the second Russian platinum producer. The agreement details are kept secret by both parties, as has been the tradition since the Soviet times. However, the agreement is confirmed. Yesterday the information was verified in Gokhran and the Moscow office of Koryakgeoldobycha. Vice president of the company Nikolay Kozin said that the amount of platinum submitted to Gokhran is comparable with half of the annual output of the company. Last year Koryakgeoldobycha mined 4 tons of platinum, which means that Gokhran will receive 2 tons. The Gokhran commercial papers have been long expected by banks. But the bankers are slightly disappointed by the fact that the first DSS of Gokhran will be secured by platinum currently illiquid in Russia. "If we were talking gold or silver, the market would react to such papers instantaneously. Things are different with platinum", said managing director for precious metal operation of Nickoil A. Kulikov.