Polymetal: Underground EV development partnership with SMT (1120173)
19 Agosto 2020 - 01:00AM
UK Regulatory
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
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ISIN: JE00B6T5S470
Category Code: MSCM
TIDM: POLY
Sequence No.: 82380
EQS News ID: 1120173
End of Announcement EQS News Service
(END) Dow Jones Newswires
August 19, 2020 02:00 ET (06:00 GMT)
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