Udokan Copper has joined the United Nations Global Compact Network (UNGC), demonstrating the company's commitment to a sustainable development strategy.
"Communication with the members of the Global Compact Network is particularly important now, in order to consistently exchange expertise and best practices, to explore alternatives to the various ESG tools that have become unavailable and to achieve sustainable development goals," said Yulia Shabala, Deputy CEO of Udokan Copper.
The UNGC Association in Russia aims to unite Russian business in the search for the best approaches to sustainable development, but also in its readiness to participate intellectually, organisationally and informationally in the development of UN global initiatives in this area.
Joining the UNGC demonstrates that the company is making a voluntary commitment to shape its business strategy and conduct its operations according to the ten UN principles in the fields of human rights, labour, environment and anti-corruption, as well as the UN Sustainable Development Goals (SDGs).
It is worth reminding that back in November 2021, Udokan Copper joined the UNGC and was among the few organisations that focused on global best practices in sustainable development during the construction phase, minimising its environmental impact and implemented an ambitious corporate social responsibility programme. Udokan Copper’s social investments have already totalled around RUB 2 billion, and the company has published its sustainability reports in the public domain for the third year in a row.
Udokan Copper was established in 2008 to develop the Udokan copper deposit project. It is part of the diversified USM holding company. With copper resources exceeding 26 million tons, Udokan is Russia’s largest copper deposit and one of the biggest in the world. The copper grade in accordance with the JORC Code is 1.05%.
The deposit is located in the Kalar District of the Zabaikalye region in Russia’s Far East, 30 km from the Novaya Chara station of the Baikal–Amur railway line. The project will commission a mining and metallurgical plant, with the final products being cathode copper and sulfide concentrate. The production volume will amount to 135,000 tons of copper per year.
Udokan Copper aims to ensure that its products meet top quality and sustainability standards throughout their life cycle.