ARMZ Uranium Holding Co. released annual report for 2016
2016 became the most successful over 10 years’ history of the Mining Division despite unfavourable macroeconomic conditions and falling of the market quotations for the company’s production lasting for the recent years. The key challenge of the Holding remains to be stable provision of The State Corporation Rosatom with strategic raw materials preserving competitiveness of the Russian uranium. In this regard «Ensuring competitiveness of the Russian uranium: results and prospects» became the priority theme.
The report was prepared for the first time using up-to-date Standard in the sphere of sustainable development GRI Sustainability Reporting Standards. Moreover, a section dedicated to the strategy in the sphere of sustainable development appeared for the first time in the report. Marina Liborakina Deputy Director General for strategy and business development noted: «Corporate social responsibility and sustainable development are the essential parts of ARMZ Uranium Holding’s strategy. This year we have tried to analyse the interconnection of the United Nation’s sustainable development goals and activity of the Holding in our report.»
The Holding has succeeded in further reduction of uranium production cost in 2016 (by 2% in comparison with 2015). Moreover, PJSC PIMCU has reached breakeven point thanks to hard work on enhancement of the efficiency, which has become the most significant achievement of the whole team lately.
Works on mineral recourses base absorption forming the image of the Russian uranium mining throughout the whole XXI century are in active process. Project for Mine No. 6 construction by PJSC PIMCU has successfully passed expert review. General construction work has been completed on the site of JSC Khiahda, infrastructure development aiming to start some new uranium deposits and to reach design capacity production of the enterprise is continued.
Business diversification projects have substantially developed what is one of the priorities of the State Corporation Rosatom. JSC AtomRedMetZoloto is actively evolving projects for production of the strategic metals. The fist of them, the project Scandium (JSC Dalur) is the start of commercial procurements of the products scheduled for 2017. Development of other projects for the benefit of effective raw material supply for the Russian high technologies is conducted in cooperation with the Russian companies.