Wednesday, 01 July 2015

Polyus Gold International Limited - First Russian company to join the International Council on Mining and Metals

Polyus Gold International Limited (LSE and MOEX – PGIL) (“PGIL”, “Polyus Gold” or the “Company”), the largest gold producer in Russia, is pleased to announce that the Company has joined the International Council on Mining and Metals (“ICMM” or “the Council”).


Polyus Gold is the first Company from Eastern Europe and the CIS to earned membership in the Council and demonstrates the Company’s commitment to responsible and sustainable development in the mining and metals industry as well as providing an opportunity to interact with all the other member mining companies and improve best practices.


ICMM was established in 2001 to advance the mining and metals industry’s commitment to sustainable development. The Council brings together leading mining and metals companies, including BHP Billiton, Rio Tinto, Barrick, AngloGold Ashanti, Goldcorp Inc. and others. ICMM now includes 23 companies as well as 35 national and regional mining associations and global commodity associations.


Preparation for joining


Polyus Gold’s preparations for joining the ICMM began in 2011. As part of this work, Polyus Gold engaged independent consultants to audit its HSE and Social Engagement policies and to develop a framework for its interaction with all stakeholders and for the sustainable development of local communities at its Krasnoyarsk, Irkutsk, Yakutia and Magadan operations. As a result, the Company developed and implemented new Sustainable Development policies covering Health, Safety and Environment; Human Rights; and Stakeholder Engagement policies.


As part of its commitment to these policies, the Company has, since 2012, published an independently audited annual sustainable development report in compliance with Global Reporting Initiative (“GRI”) requirements. The Sustainability Report for 2014 was prepared in accordance with the GRI G4 Sustainability Reporting Guidelines, which was introduced in May 2013.


The ICMM compliance program was formulated and implemented by the Health, Safety, Environment and Community Committee of the PGIL Board of Directors.


10 key principles:

Polyus Gold has committed to follow the 10 Key Principles of the ICMM which are:

  1. Implement and maintain ethical business practices and sound systems of corporate governance.
  2. Integrate sustainable development considerations within the corporate decision-making process.
  3. Uphold fundamental human rights and respect cultures, customs and values in dealings with employees and others who are affected by the Company’s activities.
  4. Implement risk management strategies based on valid data and sound science.
  5. Seek continual improvement of PGIL’s health and safety performance.
  6. Seek continual improvement of PGIL’s environmental performance.
  7. Contribute to conservation of biodiversity and integrated approaches to land use planning.
  8. Facilitate and encourage responsible product design, use, re-use, recycling and disposal of PGIL’s products.
  9. Contribute to the social, economic and institutional development of the communities in which the Company operates.
  10. Implement effective and transparent engagement, communication and independently verified reporting arrangements with all PGIL’s stakeholders.

Cooperation with the ICMM


Upon joining the ICMM, Polyus Gold’s, Board, management and employees will be able to participate in working group sessions with and learn from the global leaders in sustainable development, and participate in the development of global industry-specific best practices in this area.


Pavel Grachev, Chief Executive Officer of Polyus Gold, commented:


“We are pleased to join the International Council on Mining and Metals. ICMM membership provides us with access to the industry’s best practices in sustainable development, as well as enabling us to pass on our expertise and experience to other members. The work undertaken to gain membership underlines our commitment to responsible mining.”


Pavel Grachev, Chief Executive Officer of Polyus Gold, commented:


“The membership of Polyus Gold will bring new perspectives to ICMM, and sends a positive signal of progress towards responsible practice in the Russian mining industry.”



About us

Polyus Gold is the largest gold producer in Russia and one of the top 10 gold miners globally by ounces produced and mineral resources base. The key operations and projects are located in the Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia).

In 2014, Polyus Gold produced 1,696 thousand ounces (52.75 tonnes) of gold. In 2012, the company obtained a premium listing on the London Stock Exchange. In December 2014, Polyus Gold received a secondary listing for its shares on the Moscow Exchange.