Russia is considering the introduction of a new tax on precious metals that would see levies indexed to world prices.

The plan for metals such as platinum would see the existing tax, which is based on domestic prices, replaced with a more globally aware structure.

According to reports in the Vedomosti newspaper, Andrei Fyodorov, head of the Tax Ministry's department for payments from resource companies, is keen for the move to go ahead.

The new metals tax would run along similar lines to taxes on crude oil extraction, where rates are based on the average quarterly price for Russia's main export blend, Urals crude.

It is thought that such a change would enable the ministry to boost revenue from metals producers, at a time when prices continue to change.

At present a flat tax of eight per cent is placed on metals, based on prices provided by the companies that extract them.