The LBMA Bullion Market Forum - Moscow

3-4 June 2004

The Baltschug Kempinski Hotel - Moscow

Opening Session

Session 1 - all speeches (493k)

Opening Remarks - Simon Weeks, LBMA Chairman (67k)

Perspectives on Gold: A View from the Central Bank Oleg V. Mozhaiskov, Deputy Chairman, Bank of Russia (77k)

The Russian Precious Metals Market: New Challenges and Perspectives Alexander V.Zakharov, Deputy Chairman of the Board, Sberbank (241k)

Bullion Market Overview and Outlook Alan Williamson, HSBC Bank USA, London Branch (249k)

Questions and Answers (58k)

Session 2: Challenges in Banking and Trading

Session 2 - all speeches (159k)

Introduction by the Session Chairman Mark Rachovides, Principal Banker - Natural Resources, EBRD (52k)

The Official View Konstantin Mikhaltchuk, Deputy Chief of Administration, GOKhRAN of Russia (59k)

The Evolution of Bullion Banking in Russia Dmitri Smirnov, Deputy Head of Precious Metals, Bank of Foreign Trade Vneshtorgbank (73k)

The Taxation of Bullion Business: Viewpoint of a Commercial Bank Andrey V. Pikanovskiy, Head of Section, Precious Metals, Treasury, ROSBANK (81k)

Taxation: The Present Situation Tatiana Safonova, Ministry of Taxation (67k)

Questions and Answers (68k)

Session 3A: Local Perceptions: Production

Sessions 3A + 3B - all speeches (881k)

Introduction by the Session Chairman Mikhail Leskov, General Director, NBL Gold (54k)

A Large Producer's Viewpoint Yevgeny Ivanov, CEO, Polyus (125k)

Considerations in Financing Konstantin Chernavin, Deputy Chairman of the Board, ExpoBank (225k)

Russian Gold: Investor's Considerations Nikolai Kolesnikov, Head of Metals & Mining, United Financial Group (77k)

Session 3B: Refining and Fabrication Perspectives in the CIS

Refining and Manufacturing Perspectives in the CIS: The View from Kazakhstan Zhassulan Nakupov, Vice-President, JSC "Kazzinc (86k)

Prospects for the Production and Processing of Gold in Russia Viktor Korolenko, Technical Director, OAO "Krasnoyarsk Non-Ferrous Metal Plant" (413k)

A Review of the Ukrainian Bullion Market Oleg Matling, Director, Precious Metals Department, Pravex Bank (142k)

Questions and Answers (52k)

Session 4: Market Challenges - Outsiders' Perspectives

Session 4 - all speeches (343k)

Introduction by the Session Chairman Michael Vujnovich, Senior Representative, Placer Dome (59k)

Regulations and Requirements for Foreign Banks Robert Scott, Head of Syndications - Resource Banking, Standard Bank (88k)

Opportunities and Pitfalls: Getting into Russian Gold Jocelyn Waller, Managing Director, Trans-Siberian Gold (261k)

The Impact of Changes in Legislation on the Precious Metals Sector Yuri Kravchenko, Senior Associate, MacLeod Dixon (65k)

Taxation and Accounting Considerations Marcello Gerashvili, Ernst & Young (64k)

Session 5: The London Market's Products and Services

Session 5 - all speeches (162k)

The Development of Documentation Martin Stokes, Vice President, JP Morgan Chase (73k)

The LBMA and the London Gold and Silver Markets Stewart Murray, Chief Executive,
The London Bullion Market Association (88k)

Gold Mining Project Finance in Russia David Quarmby, Associate Director, Barclays Capital (70k)

Loco London Clearing Will Deighton, Head of London Treasury Operations, UBS AG (82k)

Closing Remarks Simon Weeks, LBMA Chairman (53k)