Adam Smith Conferences would like to thank all the participants of the 4th International CIS Precious Metals Summit for their contribution to the success of the event.

The summit gathered a highly representative audience and the most highly-respected industry players who analysed Russia’s place in the global precious metals industry and the future outlook for the sector. It was encouraging to hear from the CEOs of the top two Russian precious metals companies, Evgeny Ivanov of Polyus Gold and Vitaly Nesis from Polymetal, that despite the current economic and financial gloom, the Russian precious metals sector is enjoying buoyant times and is benefiting rather than suffering from the current economic crisis. Russian companies are profiting from rouble devaluation against stability in the gold price, which is keeping operating costs at low levels.

Another important focus at the event was on the regulatory framework for foreign investment, currently restricting the participation of foreign capital in Russia’s precious metals industry. The Deputy Head of the Antimonopoly Service of the Russian Federation, Andrey Tsyganov, presented an overview of the latest applications received from investors under the new regulation and outlined the existent procedure for examination of such applications. While recognising the expediency of a law on strategic sectors, international players in the precious metals industry called for an improvement in the legal procedures for foreign investors. Lou Naumovsky of Kinross expressed international players’ hope that the Russian authorities will establish a balance between national interests and the country’s need to attract investment. This issue was also raised by representatives of the junior mining companies who expressed their concern for future exploration activities as a result of the restrictions on foreign investment.

Representatives of the financing institutions presented an overall positive assessment of investment into the precious metals industry, while leading Russian and international precious metals consultants outlined their recommendations on how to identify the best investment assets.

Here are just a few comments from participants at the CIS Precious Metals Summit 2009:

“Excellent mix of insightful speakers”
Van Krikorian, Chairman and CEO, Global Gold Corporation

“This is a representative platform for establishing new contacts and receiving the latest industry information”
Vadim Kotikov, Senior Specialist, NBL Gold

“A highly informative, well organised gathering of the leading industry players”
Svetlana Radchenko, Financial Advisor, Ovoca Gold

“Lots of experience gained, thought-provoking”
Natalia Andreeva, CFO, GV Gold

“The relevance of the topics raised at the Summit is a good motivation for me to come back next year.”
Elena Kramarova, Director, Serena Technology

“Well-organised and designed to answer very hot questions.”
Katia Falzon, Trade Advisor, British Embassy