Social Responsibility

Many of the regions in which Polymetal International plc operates are considered socially and economically undeveloped areas of the Russian Federation and Kazakhstan. The Company pursues a responsible social strategy in those regions and views the implementation of long-term social programmes as a key factor in the sustainability of the Group’s operations.

Polymetal maintains positive working relationships with local authorities and communities where its subsidiaries operate. We recognise that future business growth will be underpinned by such relationships with regional governments and communities in areas where we are planning new mining and processing facilities.

Our community engagement priorities are education and healthcare, the development of local infrastructure, sports and healthy lifestyles, local culture and creativity and the welfare of Indigenous Minorities of the North (IMN). The standard of behaviour expected of our subsidiaries and employees in relation to these priorities is set out in our Corporate Governance Code and Policy on Social and Charitable Investments.

Supporting the Indigenous Minorities of the North (IMN)

Maintaining long-term supportive relationships with IMN communities is a priority for Polymetal. We work with such communities in Chukotka, Magadan Region and Khabarovsk Territory, providing nomadic reindeer herding teams with materials, fuel, transport, healthcare and food.

We also work with younger people in the IMN communities to explore and promote their own traditions and culture, including sponsorship of celebrations involving music, art and ethnography. In 2011, we funded the publication of a book about the Negidals, the smallest of the IMN communities whose future is under threat. In the same year, we began a long term programme of support for reindeer herders in Okhotsk District, Khabarovsk Territory. This involves the purchase of materials, veterinary medicines and transport, repairs to equipment and grants to assist in building up of reindeer herds.

All of this work is done with the full co-operation of IMN representatives. Regular meetings provide us with opportunities to identify their needs and assess the success of our funding programmes. Accordingly, the Association of IMN in Khabarovsk Territory described Polymetal as "the best business providing assistance in preserving and developing ethnic cultures".

Download Sustainability report 2008 – 2010 to see examples of group social projects

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