UGC Released 360,000 Grower Fish into the Krasnoyarsk Reservoir under the Program for the Artificial Reproduction of Fish Resources
LLC AS Priisk Drazhny, a gold-mining facility operating in the Krasnoyarsk Region, a subsidiary of the Joint Stock Company Uzhuralzoloto Group of Companies (‘UGC’, ‘the Group’), has released more than 360,000 peled (Coregonus peled) into the Krasnoyarsk reservoir under a corporate programme for the protection of water and biological resources. The total cost of compensation measures amounts to RUB12 million. In Q1 of 2020, UGC allocated a total of RUB 200 million for environmental protection.
Vladimir Kovalsky, Managing Director of LLC AS Priisk Drazhny comments: ‘Reducing the impact of the Group’s activities on the environment is a critical priority within all UGC’s operations and activities. The Group has implemented a large-scale environmental safety programme across the business and at all stages of production – from geological exploration to refining’.
UGC production fully complies with Russian environmental legislation, as well as international environmental protection requirements. The Group pays particular attention to the protection of surface and ground water sources. UGC completely excludes the discharge of untreated surface waste water into the natural water bodies and the production cycle uses closed water circulation system, which makes it possible to reuse 100% of water resources.
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UGC is one of Russia's largest gold mining companies, with a track record of growth over many years. It produced 450,000 oz of gold in 2019, generating revenue of over US$600m and significant cash flow. It has doubled production in the five years since 2014, and has mined 150 tonnes of gold over the last 22 years. UGC has a low cash cost per ounce, has built a portfolio of assets representing the third largest gold reserves in Russia, and constructed the largest processing plant in Russia (Svetlinskaya at Chelyabinsk). UGC is run by experienced mining professionals, with the current management team having been in place since 1997. It aims to maintain the best industry ESG standards, and has a long record of cost-efficient production and successful investment in its business.