PJSC Polyus (LSE, MOEX: PLZL) (“Polyus”, the “Company”), the largest gold producer in Russia, announces it will donate 45 medical ventilators to hospitals in the regions where the Company operates, to help treat COVID-19 patients suffering from severe pneumonia.
So far, 13 ventilators have been procured and installed, 19 more are on their way to designated hospitals and Polyus is in the process of procuring a further 13 devices.
The initiative is part of Polyus’ efforts to help prevent the spread of the global COVID-19 pandemic. The Company has already established a RUB 1 billion fund with the Far East Development Fund (FEDF) to finance activities aimed at preventing the spread of the virus. The initial RUB 250 million tranche invested by Polyus and FEDF will finance initiatives including the procurement of personal protective devices and medical equipment for local hospitals in the Magadan and Yakutia regions.
The Company has also provided funding for the same purposes to designated regional healthcare agencies and foundations in the Krasnoyarsk and Irkutsk regions.
Pavel Grachev, Chief Executive Officer of PJSC Polyus, commented:
In this global crisis, governments and businesses unite their efforts to beat the COVID-19 pandemic, and Polyus has a vital role to play in this regard. We are providing systematic support to healthcare facilities in the regions where the Company operates, and where we already have a number of initiatives in place to help prevent the spread of COVID-19. Procurement of ventilators is another step in this direction, proving that health and safety of our employees and communities in the regions where we operate is Polyus’ number one priority.
Polyus is the largest gold producer in Russia and one of the top five gold miners globally with the lowest cost position. Based on its 2018 Ore Reserves and Mineral Resources, the Polyus group ranks the third by attributable gold reserves and gold resources among the world’s largest gold mining companies.
The Polyus group’s principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
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This announcement may contain forward-looking statements concerning Polyus and/or Polyus group. Generally, the words will, may, should, could, would, can, continue, opportunity, believes, expects, intends, anticipates, estimates or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus’ and/or Polyus group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus group’s ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.