In the light of recent developments, and in the interests of preserving shareholder value, the Board and the Special Committee have decided to consider all possible options available for divestment of JSC Polymetal and its subsidiaries.
19 June 2019
The Voro plant has become the second Polymetal gold production operation to be certified as being in full compliance with the International Cyanide Management Code (Cyanide Code) as both a gold mining company and separately as a cyanide transporter by the International Cyanide Management Institute (ICMI).
Polymetal became a signatory to the Cyanide Code as a mining company in 2016 and as a cyanide transporter in 2018, and an independent third-party auditor has recently completed an audit of the Voro Operation and Supply Chain which confirmed that the operation maintains full compliance with the Cyanide Code's Principles and Practices.
Earlier in May 2019, the Amursk POX plant, another Polymetal production, became the second gold production operation in Russia and FSU which has been certified ICMI.
The Summary Audit Report and Auditor Credentials Form are available in Polymetal’s Mining and Transportation Signatory Page on the ICMI website at https://www.cyanidecode.org/signatory-company-categories/polymetal-international-plc-cyprus and https://www.cyanidecode.org/signatory-company-categories/polymetal-international-cyprus.
The Cyanide Code is a voluntary industry program for companies involved in the production of gold and/or silver using cyanide and companies producing and transporting this cyanide. It was developed under the aegis of the United Nations Environment Programme by a multi-stakeholder Steering Committee. The Cyanide Code is intended to complement an operation's existing obligation to comply with the applicable laws and regulations of the political jurisdictions in which the operation is located.
Code signatories commit to follow the Code's Principles and implement its Standards of Practice, and to have verification audits of their operations conducted by independent third-party auditors within three years of their initial application, and every three years thereafter to evaluate continuing compliance with the Cyanide Code. Operations will be certified if found in compliance with the Code, and may be de-certified if determined to be out of compliance with the Code.