REG-Polymetal International plc Polymetal: Underground EV development partnership with SMT

Polymetal International PKAnnouncement

19/08/2020 07:00

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   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.

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   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
                                  Polymetal
                                              1 ir@polymetalinternational.com
   FTI Consulting                 Evgeny
                          +44 20  Monakhov   +44 20 7887 1475 (UK)
   Leonid Fink            3727
                          1000    Timofey     
   Viktor Pomichal                Kulakov
                                             +7 812 334 3666 (Russia)
                                  Kirill
                                  Kuznetsov
       Joint Corporate Brokers         
                          +44 20
                          7425
                          8000
   Morgan Stanley & Co.
   International plc       
                                  RBC Europe
   Andrew Foster                  Limited

   Richard Brown                  Marcus     +44 20 7653 4000
                                  Jackson
   Panmure Gordon          
                                  Jamil Miah
   James 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  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.

    

    

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


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:ir@polymetalinternational.com


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