Friday, April 14 2017 14:01
Emmanuil Mkrtchyan

Polymetal shoots leading position in environmental management

Polymetal shoots leading position in environmental management

ArmInfo. Polymetal Company became one of the leaders of mining companies environmental responsibilities rating list , developed by Global Fund of Wild Nature together with UN Development Project (UNDP). This was shared with ArmInfo by the press office of the Company. 

The rating was published in  late March 2017. During the development of the rating mentioned three main aspect of environmental liability were considered : environmental management, environmental impact and transparency. The roster  comprised 33  large companies. The evaluation was held in respect to 35 criteria, embracing all the segments - from mines design and equipment to  waste recycling. 

Polymetal  took the leading position in the item of Environmental management, within the evaluation of basic principles and environmental management quality. The  criteria were the availability of certified system of environmental management, as well as the requirements set forth  for risks additional  evaluation at environmentally sensitive territories, approaches of reduction of the territories under environmental impact  while implementing land acquisition, as well as the methodology of protection of water areas, liabilities  in respect to wild animals migration paths protection, availability of  underground  water policies. The energy efficiency of the company, the availability of biodiversity programs in the regions of presence were also taken into consideration.  

In total, due to three positions Polymetal entered the top 10 and took the 7th position in the rating.  Following the estimates of the rating developers, the environment management systems operated in the leading companies, do conform the best international practices either from points of either environment negative impact reduction and transparency.

To remind, Polymetal started its in Armenia with purchasing the poly metal  mine of Lichkvaz-Tey. Earlier it was reported that Polymetal International plc announced  the successful completion of an audit of Mineral Resources by CSA  Global Pty Ltd ("CSA Global") for the 100%-owned Lichkvaz project.  Total underground Mineral Resources in accordance with the 2012 JORC  Code confirmed by independent auditors, CSA Global, comprised of 4.3  Mt of ore averaging 4.2 g/t for 0.6 Moz of gold equivalent. In 2016,  Polymetal intended to transport ore mined at Lichkvaz 70 km to the  Kapan concentrator for processing. The acquisition of the Kapan  concentrator together with the underground mine and related infrastructure was completed by Polymetal on 28 April 2016 (details  of the transaction were provided in the press releases dated 2 March  and 28 April 2016).  

The final beneficiary of Polymetal ( approximately 27% of equity capital)  is the Alexander Nesis 's East Group, 13% of company's shares is owned by Pyotr Kellner's Czech PPF Group. Besides, around 1% of statutory capital is controlled by the Company's management and directors, 19% - by  private persons and 40% by individual investors.   


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