PJSC Polyus (LSE, MOEX: PLZL) (“Polyus”, the “Company”), the world’s fourth-largest gold mining company by production, today announces the publication of its inaugural Water Report, prepared in compliance with the ICMM’s Practical Guide to Consistent Water Reporting.
Polyus is the first major company in Russia to publish a report of this kind.
Pavel Grachev, Chief Executive Officer of PJSC Polyus, commented:
By publishing its first Water Report, Polyus is setting a new standard for water reporting in Russia. Like other miners, we require water for our production processes. As a sustainable company we must ensure that we use our resources responsibly and efficiently to minimize our impact on the environment. Maximum transparency is a central aspect of our work in this area.
The Report, which provides detailed information on the Company’s comprehensive approach to water management across all of its key assets, is now available for download on Polyus’ website
The Report details the Company’s approach to responsible management of water resources and related risks. Polyus’ water strategy includes water protection measures based on scientific research, collaboration and proactive engagement with industry peers and local stakeholders, as well as an emphasis on transparency and disclosure.
Highlights from the Water Report:
- Polyus’ closed water circulation scheme at ore production assets has progressively reduced freshwater consumption. 93% of water used in Polyus’ operations now originates from its closed water recycling system.
- About half of the Company’s total water demand is covered by pit water inflow as well as meltwater and rainwater. Withdrawal of water from natural sources per tonne of ore processed declined by 28% between 2016 and 2020.
- In 2019 Polyus launched the Water Campaign, a set of managerial and technical initiatives to reduce the withdrawal of freshwater through the prevention of leaks in the water supply systems and the efficient reuse of water. The Water Campaign helped to decrease the amount of water spent per ton of gold produced by 18% in 2020 compared to 2019.
- Any water that is released into the environment is treated using advanced technologies. Polyus monitors water quality before and after its usage in the production cycle.
- The Company supports local biodiversity levels and runs programs to support populations of local aquatic species.
- Polyus intends to further reduce the volume of water intake, increase the efficiency of wastewater treatment, and increase the share of quarry water in its consumption.
Publication of the Water Report reflects Polyus’ commitment to demonstrating industry-leading standards in sustainability disclosure. In 2019 the Company published its report on the safe management of tailings, and has subsequently worked with the ICMM on the development of the Global Standard on Tailings Management. In March 2021 the Company has also published its Climate Position Statement.
Polyus is the world’s fourth-largest gold mining company by production volumes and one of two gold miners with the largest attributable gold reserves. The company demonstrates the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
Investor and Media contact
Victor Drozdov, Director
Communications & Investor Relations (CIR) Department
+7 (495) 641 33 77
Forward looking statement
This announcement may contain forward-looking statements concerning Polyus and/or Polyus group. Generally, the words will, may, should, could, would, can, continue, opportunity, believes, expects, intends, anticipates, estimates or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus’ and/or Polyus group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus group’s ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.