The successful results of Environmental Compliance Strategy audit prepared by independent auditor
Polymetal in cooperation with international consultants Steffen Robertson and Kristen (SRK Consulting Ltd., UK) completed the Environmental Compliance Strategy audit for the company and all the producing subsidiaries. As a result of this work Polymetal obtained independent auditor«s final report confirming that all Polymetal operations adhered to sound principles of environmental management as defined by the current polices and guidelines of the World Bank Group.
Compliance with World Bank Guidelines was defined as meaning compliance with the documents covering a range of environmental, social and health & safety policy issues and technical requirements.
During the second quarter 2006 SRK Consulting specialists visited each of the four operational sites (Dukat, Lunnoye, Vorontsovskoye and Khakanjinskoye) appraised the compliance of the environmental strategy and practices to the World Bank Group Guidelines.
SRK Consulting made a review of the environmental system focusing on several specific areas such as environmental management, environmental monitoring (the quality control of ambient air, surface water, groundwater and etc.), closure and rehabilitation, health & safety. According to the supervision report the producing mines» environmental impact is in the acceptance limits. Auditors adjudged the high level of Polymetal«s environmental monitoring program which was considered to be the best one among others audited by SRK Consulting.
Polymetal takes the necessary steps to introduce and perfect personnel health & safety training program and other up-to-date international practices for further improvement of the environmental policy.
Commenting on today«s announcement, Vitaly Nesis, Polymetal CEO, said: «We consider obtaining the positive international auditors report, adhered to Western Bank Guidelines as the regular important step in improving of the corporate governance principles. We plan to complete the compliance of all the key corporate governance practices to best international standards till the end of this year».
source: Investor Relations Department