Sustainable development

Anticorruption policy

The company was established for efficient implementation of Udokan copper Project that is unique in scale and complexity. The company holds the right to use the subsoil for mining of copper and associated minerals based on License ChIT 14956 TE issued in 2008 by the Federal Agency for Subsoil Use.

Presently the Company is dealing with the challenge of establishing reliable and safe copper production with high and stable rate of return and minimum negative environmental and social impacts while serving the interests of all stakeholders.

Udokan deposit is a strategic project that will enable to provide incentives to the development of M&M sector, motor road and railway infrastructure, power industry, civil construction and other branches of the economy of the Far East and Siberia. Its successful implementation will create opportunities for sustainable development of the resources` potential of Northern Zabaikalye on the basis of the integrated complex of power, transport, social and engineering infrastructure facilities.

The deposit is situated in Kalar District of Zabaikalye Region. It is the largest undeveloped copper deposit in Russia and one of the largest globally. The current plan of Udokan development presupposes construction of an industrial complex with the maximum capacity enabling to process up to 36 mtpa of ore with the production of 474kt of cathode copper and 277 t of associated silver.

Pursuant to the requirements of Federal Law No.273-FZ dated 25.12.2008 “On Combating Corruption”, the company developed “Anti-Corruption Policy ” and adopted it as its local regulations.

The Anti-Corruption Policy is aimed at development and implementation of anti-corruption standards, rules and procedures that prevent and suppress corruption in the company`s activities.

Adherence of the Company to the aims of Anti-Corruption Policy serves to strengthen the company`s image among its contractors and peers; protects the company against corruption offences on the part of dishonest representatives of other companies and public authorities; eliminates the risks of implications relating to corruption; promotes rejection by the company`s employees of corruptive actions of their colleagues or contractors` representatives.

The requirements of Anti-Corruption Policy are binding on all employees of the Company. The obligation of compliance with the requirements of Anti-Corruption Policy and the key provisions of the Policy are recorded in the labour contracts, job descriptions of the company`s employees and internal code of conduct of the Company.