A General has been signed Cooperation Agreement between Polymetal Inter-Regional Research and Production Association and the government of Khanty-Mansiysk autonomous district.
On 18 January 2002, during the visit of Khanty-Mansiysk autonomous district governor Alexander Philipenko to St Petersburg a General Cooperation Agreement was signed between Khanty-Mansiysk autonomous district government and Polymetal Inter-Regional Research and Production Association.
Upon arrival to St Petersburg, Alexander Philipenko visited Polymetal headquarters. The delegation became acquainted with the activity of one of the largest gold mining companies in Russia. Members of the delegation examined Polymetal"s Computer Control center. The application of ultra-modern computer technologies and the satellite connection system "Belcom-Vsat-2" allows the company"s management in St Petersburg simultaneously to supervise the whole production process at 8 production sites, and the construction of 4 large facilities, efficiently taking all necessary decisions. Polymetal"s specialized Scientific Research Center was also highly appreciated by the guests. It provides essential data to all divisions of the association.
"It"s the first mining company in Russia I"ve seen which created a closed technological cycle with this unique equipment," said Valery Karasev, deputy chairman of Khanty-Mansiysk autonomous district government. At the end of the excursion and after the final round of negotiations, an agreement was signed between Polymetal Inter-Regional Research and Production Association administration and Khanty-Mansiysky autonomous district government. In accordance with this agreement, the sides state their intention to cooperate in conducting prospecting and evaluation of ore gold and other minerals on the territories of Khanty-Mansiysk autonomous district.
For these reasons Polymetal is going to create a separate enterprise registered in the district. Should industrially significant gold deposits be discovered, this enterprise will be in charge of the evaluation of their scale. It will also conduct research of technological characteristics of the ore and prepare preliminary feasibility studies of the development sites. Polymetal also has to prepare a detailed program of development of promising district territories within 3 months. After the program"s ratification, Polymetal will be given the right to utilize the mineral resources with the purpose of ore gold and other minerals prospecting and evaluation on Khanty-Mansiysk autonomous district perspective territories (www.admhmao.ru)
During the same meeting an agreement with Khanty-Mansiysky Bank was also signed. This agreement concerns the bank"s participation in investment projects for construction and operation of gold and silver mining enterprises on the territory of the Ural Federal district.
source: Polymetal press release, 18.01.2002