Headquarters
Cyprus
Stock Exchange Listings
LSE: POLY - MOEX: POLY - AIX: POLY
Workforce
Employees: 12,679 (31/12/2020)
Contract workers: 5,277 (31/12/2020)
Total: 17,956 (31/12/2020)
Geographic Footprint
Producing countries: 2
Known tax jurisdictions: 4
Revenues (in BUSD)
Total Revenue: 2.865 (31/12/2020)
Net Income: 1.086 (31/12/2020)
State Ownership
No State ownership
2019 Fatalities
Total worker fatalities: 3
  • Employees: 2
  • Contract workers: 1
Others: Not Specified
2020 Fatalities
Total worker fatalities: 0
  • Employees: 0
  • Contract workers: 0
Others: Not Specified
Home countries, where the company is headquartered
Producing countries, where the company has mining operations
Mine sites selected for mine-site-level assessment

Summary of Results

Economic DevelopmentBusiness ConductLifecycle ManagementCommunity WellbeingWorking ConditionsEnvironmental Responsibility0%20%40%60%80%100%
  • Polymetal
  • RMI average
  • Collective Best Score

While absolute results are low overall, Polymetal shows one of the four stronger results in Working Conditions. In addition to its formal commitment to ensure safe and healthy working conditions, Polymetal shows a relatively stronger result on the issue of ensuring its operations actively respect the rights of workers to organise, collective bargaining and freedom of association, as well as ensuring its operations address the health and safety needs of women workers. In addition, the company shows one of the stronger results on the disclosure of information on fatalities and serious injuries and safety incidents.

Polymetal is associated with several leading practices including disclosing mine-site-level data on the functioning of its worker grievance mechanisms and detailed public disclosure of areas at potential risk in the case of a failure of a tailings storage facility.

Polymetal’s results are above average in two other of the six thematic areas: Business Conduct and Environmental Responsibility. Polymetal’s overall results are limited by a lack of evidence of action on a number of key issues. For example, there is no evidence that the company has systems in place to support local entrepreneurship and local business development. In addition, the company shows no evidence of reviewing its performance on respecting the rights and aspirations of Indigenous Peoples, or of tracking its performance in reducing adverse impacts on water quality. Additionally, Polymetal shows no evidence of identifying and addressing how climate change can exacerbate the impacts of its operations on its workforce, affected communities, and the environment.

Polymetal ranks 1st among the 40 companies on its mine-site-level results, though with an average score of only 24%. In the mine-site assessment, Polymetal demonstrates an unusually high level of consistency in the results achieved by its seven assessed mine sites (with scores all within the range 21-30%). However, none of the relevant mine sites show any relevant evidence on three issues: local employment, women workers, and living wage.

Overall results

Economic Development

15.50 / 100.002022
8.00 / 100.002020

Business Conduct

36.40 / 100.002022
31.00 / 100.002020

Lifecycle Management

16.70 / 100.002022
11.00 / 100.002020

Community Wellbeing

15.20 / 100.002022
16.00 / 100.002020

Working Conditions

44.20 / 100.002022
40.00 / 100.002020

Environmental Responsibility

34.50 / 100.002022
29.00 / 100.002020

Average Mine-Site Score

24%2022
2022
16
%
2020
8
%

Economic Development

2022
36
%
2020
31
%

Business Conduct

2022
17
%
2020
11
%

Lifecycle Management

2022
15
%
2020
16
%

Community Wellbeing

2022
44
%
2020
40
%

Working Conditions

2022
35
%
2020
29
%

Environmental Responsibility

2022
24
%

Average Mine-Site Score

Results per measurement area

Commitment

(9 indicators)

Action

(42 indicators)

Effectiveness

(20 indicators)

Results per indicator

Economic Development

Mine-site Results

Mine sites selected for individual assessment (but not included in the overall company score)

Click on a mine site name to open its individual result page
Albazino-AmurskDukatKyzylMayskoyeOmolonVarvaraVoro
Local Employment
(score /4)
0.00.00.0--0.00.0
Local Procurement
(score /4)
1.01.01.01.01.01.01.0
Air Quality
(score /4)
1.01.01.02.02.01.01.0
Water Quality
(score /4)
1.01.01.02.02.01.01.0
Water Quantity
(score /4)
0.50.50.50.50.50.50.5
Rehabilitation and Post-Closure
(score /4)
0.50.50.5--0.50.5
Tailings Management
(score /4)
2.02.02.02.02.02.02.0
Safety of Communities
(score /4)
0.00.00.5--0.00.5
Community Grievances
(score /4)
1.51.51.5--1.51.5
Safety and Health of Workers
(score /4)
1.01.01.01.01.01.01.0
Women Workers
(score /4)
0.00.00.00.00.00.00.0
Workplace Deaths and Injuries
(score /4)
0.50.50.50.51.01.01.0
Training of Workers
(score /4)
1.51.51.51.51.51.51.5
Decent Living Wage
(score /4)
0.00.00.00.00.00.00.0
Worker Grievances
(score /4)
2.02.02.02.02.02.02.0
Mine Site Score
(%)
21.021.022.028.030.022.023.0

Operational mine sites

Mine Site NameAliases/Other namesCountryCompany's share (%)ProductsMining types
Albazino-AmurskEkaterina-2, Amursk POX HubRussian Federation100Gold, SilverOpen-pit, Underground
DukatLunnoye, Omsukchan, Goltsovoye, ArylakhRussian Federation100Silver, GoldOpen-pit, Underground
KyzylBakyrchik, BolshevikKazakhstan100GoldOpen-pit
Mayskoye-Russian Federation100GoldOpen-pit, Underground
OmolonBirkachan, Tsokol, Oroch, Sopka, Olcha, KubakaRussian Federation100Gold, SilverOpen-pit, Underground
Svetloye-Russian Federation100GoldOpen-pit
VarvaraVarvara Hub, Komar, TarutinKazakhstan100Gold, CopperOpen-pit
Voro-Russian Federation100GoldOpen-pit

Tax Jurisdictions (known)

Cyprus

Kazakhstan

Russian Federation

UK