The Russian president Vladimir Putin has announced the declassification of information concerning the country's platinum group metals resources.

In a decree issued by Putin, details concerning the volume of reserves, the transfer and consumption of the precious metal will all be made available.

In addition, greater transparency will also be implemented regarding natural diamonds in Russia.

The announcement from the Kremlin will cover all information except details on those reserves of held in the State Depository of Precious Metals and Precious Stones.

The announcement follows years of promise for the declassification, with the boundaries and details of the plan under lengthy review.

Originally the plans to declassify the data came into law back in February 2004 after a vote in the Duma, but they needed the backing from President Putin before they are officially enacted.