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          +44 20 3727  Polymetal ir@polymetalinternational.com 
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                                    +7 812 334 3666 (Russia) 
 
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Joint Corporate Brokers 
 
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Internationa 
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Foster 
 
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Brown 
 
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Gordon 
 
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Stearns      +44 20 7886 
             2500 
 
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 
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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 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

August 19, 2020 02:00 ET (06:00 GMT)

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