International Cooperation for Integration of the Russian Mining Industry into the World Mining Sector

A cooperation agreement between the OJSC "Rosgeology" and SRK Consulting has been signed with a formal ceremony.

OJSC "Rosgeology" was established in 2011 by the Decree of the President of the Russian Federation. The Rosgeology holding unites the assets of 38 specialised geological enterprises located in 30 regions of Russia. One of the key objectives of Rosgeology is the comprehensive investigation of the Russian mineral resources for the purpose of development of the Russia’s mineral resource base. The company focuses on an intensive cooperation and partnership relations with the leading Russian and international organisations in the mining sector. As a result of negotiations conducted with a number of expert companies, Rosgeology has selected SRK Consulting, an independent international consultancy which has an extensive experience and expertise in the minerals exploration and development, including the mining and processing techniques and the relevant environmental aspects. Andrey Tretyakov, an Acting General Director of OJSC "Rosgeology", has stated that during negotiations the companies have reached a “mutual understanding of the common problems faced by the Russian mineral exploration sector”.

The parties will cooperate in the field of audit of a wide range of exploration activities, audit of laboratories and estimation of resources and reserves in accordance with international codes. The companies are planning to develop the methodologies and programmes in the field of geotechnical studies. An essential element of the joint work will be environmental studies, including an assessment of investment risks.

While signing the agreement, both parties have expressed hope that cooperation between Rosgeology and SRK Consulting will contribute to the integration of the Russian mining industry into the world mining sector, including through the alignment of the Russian and international standards and approaches to environmental impact assessment. According to Andrey Melnikov, a Board Chairman of SRK Consulting, cooperation between the two companies “will promote the development of the mining industry which is a fundamental industry from both the economic and social viewpoint and will also contribute to the education of the next generation of mining professionals”.

Russian version of the interview with Andrey Tretyakov, an Acting General Director of OJSC "Rosgeology" and Andrey Melnikov, a Board Chairman of SRK Consulting can be found here http://www.youtube.com/watch?v=BRtAp6f9liQ. The interview has been recorded by a MINEX TV crew (project of the Annual Mining and Exploration Forum, “MINEX”).