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Full disclosure on tailings storage facilities

20 May 2019

Polymetal has today provided full disclosure on its tailings storage facilities management in response to a request from the Church of England Pensions Board and the Swedish Council on Ethics for the AP Funds. 

As of today, Polymetal operates 9 tailings storage facilities (TSF) at 7 operating mine sites in Russia and Kazakhstan, and 2 dry stack facilities. To date, there have been no environmental accidents involving tailings facilities at the Company’s operations.

All of Polymetal’s TSFs undergo regular audits for compliance with environmental legislation requirements as well as safety examinations to prevent accidents and eliminate causes of dam failure. TSFs are regularly monitored by our on-site environmental and engineering teams. Pipelines, pump stations, water levels and dams are inspected on a daily basis. Polymetal ensures emergency preparedness and response procedures at all stages of TSFs lifespan.

In 2018, the Company improved control and increased the rigour of assessment and management of tailings storage facilities, including emergency response plans.

The Company is increasingly shifting towards safer methods of waste storage, particularly dry stack (filtered cake) tailings.  This technology significantly reduces the probability of dam failure, minimises potential damages in case of an accident, and eliminates tailings run-off. Polymetal plans to use dry stacking at all new projects where it is possible. For the two projects currently in construction, Nezhda and POX-2, tailings will be dry stacked.

Polymetal fully supports the need for greater transparency in the mining sector and discloses full details on each of its TSF and how they are managed. The full TSF management disclosure is available at https://www.polymetalinternational.com/en/sustainability/environment/#waste.

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Polymetal International plc (LSE, MOEX: POLY, AIX: POLY, ADR: AUCOY) (together with its subsidiaries — “Polymetal”, the “Company”, or the “Group”) is a top-20 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.
THIS RELEASE MAY INCLUDE STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, “FORWARD-LOOKING STATEMENTS”. THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS RELEASE. THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS “TARGETS”, “BELIEVES”, “EXPECTS”, “AIMS”, “INTENDS”, “WILL”, “MAY”, “ANTICIPATES”, “WOULD”, “COULD” OR “SHOULD” OR SIMILAR EXPRESSIONS OR, IN EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY DISCUSSION OF STRATEGIES, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS ALL INCLUDE MATTERS THAT ARE NOT HISTORICAL FACTS. BY THEIR NATURE, SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER IMPORTANT FACTORS BEYOND THE COMPANY’S CONTROL THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS REGARDING THE COMPANY’S PRESENT AND FUTURE BUSINESS STRATEGIES AND THE ENVIRONMENT IN WHICH THE COMPANY WILL OPERATE IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE. THERE ARE MANY FACTORS THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS. THE COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ANY CHANGE IN THE COMPANY’S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS ARE BASED.
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