Sustainable development

The policy of social responsibility and sustainable development

The Project is executed in compliance with the requirements of Russian Law and International Finance Corporation`s Performance Standards.

Company has the following priorities throughout the whole life cycle of the Project:

•      mitigation of potential negative environmental and social impacts;

•      safeguarding the interests of all the stakeholders, including indigenous Arctic ethnic groups;

•      support of the regional social and economic development projects.

Preliminary Environment and Social Impact Assessment and continuous environmental monitoring within the deposit have proven that there are no significant environmental impacts that could have a detrimental effect.

In 2018 materials for comprehensive Environment Impact Assessment of Udokan Mining and Metallurgical Plant were prepared and submitted for public hearings and for state environmental expert review. The above materials included the following:

•      analysis of the current state of environmental components;

•      assessment of the potential impact on the environment;

•      assessment of environmental safety of the proposed project solutions;

•   drawing up a list of environment-related works, creation of environment monitoring system and industrial environment monitoring  at all Project execution stages.

On October 5, 2018  the state environmental expert committee approved design documentation “Udokan Mining and Metallurgical Plant. Construction Stage 1 for the capacity of 12 mtpa of ore”.

The Udokan copper`s shareholders allocated more than RUR 1 bln for social projects and top-priority activities in Zabaikalye Region and Kalar District, including, among other things:

•      renovation of educational establishments and health care facilities, co-financing of programs related to overhauls of residential buildings and move from dilapidated and dangerous buildings;

•      development of children`s and youth mass sports and professional sports, organization of sports events, participation in competitions, procurement of sports equipment;

•      support of significant cultural initiatives; activities of indigenous Arctic ethnic groups; holding of international Zabaikalye film and arts festivals; publication of books with the support of the Russian Geographic Society;

•      establishment of fire prevention and fire fighting system.