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Polyus recognised for supporting the Extractive Industries Transparency Initiative (EITI) in 2019

17 February 2020
Polyus recognised for supporting the Extractive Industries Transparency Initiative (EITI) in 2019

Polyus has received recognition for its role in supporting the Extractive Industries Transparency Initiative (EITI), as part of its involvement with International Council on Mining and Metals (ICMM), which makes a contribution to the initiative on behalf of all its members. Polyus has been an approved member of the ICMM, the most prestigious international organisation promoting sustainable mining, since 2015, and was the first company in Eastern Europe to join the initiative.

Guided by the belief that a country’s natural resources are the property of its citizens, the EITI has formed a global standard, aimed at promoting the transparent and accountable management of resource extraction. 53 countries are currently participating in the initiative, and their progress is measured as to whether their work towards achieving a good standard of open and accountable management of oil, gas and mineral resources is sufficient.

The 8th Global EITI Conference, held in Paris in June 2019, was centred around the theme of “Open Data, Build Trust,” addressing how the governance of extractives can be harnessed for inclusive development.

Polyus supports the initiative not only through its membership of ICMM, and by upholding the high standards of corporate governance and transparency promoted by the EITI but also in ensuring that all of its taxes, royalties and other payments to governments are publicly disclosed in full in a comprehensible manner.