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Polymetal International plc (POLY)

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Wednesday 19 August, 2020

Polymetal International plc

Polymetal: Underground EV development partnership with SMT

Polymetal International plc (POLY)
Polymetal: Underground EV development partnership with SMT

19-Aug-2020 / 09:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


Release time

IMMEDIATE  LSE, MOEX, AIX: POLY / ADR: AUCOY

Date

19 August 2020

 

 

Polymetal International plc

Underground EV development partnership with SMT

Polymetal is pleased to announce the signing of Memorandum of Understanding ("MoU") with SMT Scharf AG ("SMT") for a potential strategic cooperation in underground electric vehicles (EV) development in line with its climate strategy.

Highlights

  • Polymetal and SMT agreed to cooperate in development, implementation and testing of zero-emission battery EVs.
  • Initially, collaboration is to be focused on mid-ranged LHDs and trucks, with potential involvement of drill rigs and utility vehicles in the future.
  • Two pairs of units (LHD+Truck) are going to be tested at Polymetal's operations during the one-year trial with further collaborative re-design, signing of distribution agreement and establishment of after-sales support centre.
  • The strategic cooperation is set to last for 10 years with an opportunity for further extension.

"The partnership with SMT grants us an easy access to customisable battery electric vehicles which could positively contribute to our operating costs dynamics, GHG emissions and personnel safety at underground mines", said Vitaly Savchenko, COO of Polymetal. "It fits well into our strategy to gradually involve EVs across the Group's operations and marks another step towards cutting carbon emissions by 5% in 2023".

Polymetal's GHG emissions from mining fleet and mobile machinery at the hubs with underground mines for 2019 were 334 Kt of CO2 eq. which is 12% of Groups total emissions (Scope 1+ Scope 2).

About SMT 

The SMT Scharf Group develops, manufactures and services transportation equipment for underground mining as well as for tunnel construction. The company's production facilities are located in Hamm, Germany, with sales braches in 8 countries including Russia. Shares of the company are listed on the Frankfurt Stock Exchange. As a part of the further diversification of the business, the product range has been successfully expanded since 2019 to include electronic components and control systems for mining and other industries.

About Polymetal 

Polymetal International plc (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-10 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.

Enquiries

Media

 

Investor Relations

FTI Consulting

Leonid Fink

Viktor Pomichal

+44 20 3727 1000

Polymetal

Evgeny Monakhov

Timofey Kulakov

Kirill Kuznetsov

[email protected]

+44 20 7887 1475 (UK)

 

+7 812 334 3666 (Russia)

Joint Corporate Brokers

 

Morgan Stanley & Co. International plc

Andrew Foster

Richard Brown


Panmure Gordon

James Stearns

+44 20 7425 8000

 

 

 

 

 

+44 20 7886 2500

RBC Europe Limited

Marcus Jackson

Jamil Miah

+44 20 7653 4000

Forward-looking statements

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.

 

 



ISIN: JE00B6T5S470
Category Code: MSCM
TIDM: POLY
Sequence No.: 82380
EQS News ID: 1120173

 
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