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JSC Atomredmetzoloto issued its public annual report for 2014
On June 30, 2015, JSC Atomredmetzoloto posted on the corporate website its public annual report for 2014 (hereinafter - the Report), which is the seventh report of ARMZ Uranium Holding Co.
The report presents integrated financial, industrial and non-financial indicators which give a comprehensive picture of the Company's activities, including sustainable development.
The year of 2014 marked an important stage in the history of ARMZ Uranium Holding Co.
The main efforts of the Company were aimed at achievements of the objectives set by Rosatom State Nuclear Energy Corporation, including supplying the needs of Rosatom in Russian uranium at a competitive price, focusing on break-even operation of the Company and its assets. In 2014, despite the difficult financial and economic environment, positive trends towards achievement of the planned targets by the Company begun to take shape.
In this connection, the priority topic was "Improving business efficiency of ARMZ Uranium Holding Co. as a key part of the strategy."
For the second year in a row, the report is being prepared according to the latest international reporting standards - International Integrated Reporting Standard (IIRS), Version 1.0 and main version of G4 Sustainability Reporting Guidelines under Global Reporting Initiative.
The main difference of the Report is the special sections highlighting the activities of the main uranium assets of the Company - PJSC PIMCU, JSC Khiagda and JSC Dalur.
An important result of our operations in 2014 was the decrease in the cost of uranium production by 6% at PJSC PIMCU.
JSC Dalur and JSC Khiagda, where an advanced production method of underground leaching has been implemented, have been developing steadily. Modern yellowcake drying technology has been tested at JSC Dalur, which allows reducing the final product moisture content to 1.5%, thereby improving the quality and ensuring compliance with the basic specifications of the customer, TVEL Fuel Company.
In 2014, JSC Khiagda completed construction of start-up facilities of the first phase of the main building; comprehensive equipment testing has been performed. All this will enable the company to reach the capacity of 1,000 tons of uranium per year in the near future. It should also be noted that JSC Khiagda has significant resource potential for long-term development, revealed as a result of prospecting operations in Vitimsky Uranium Ore District in the Republic of Buryatia.
JSC Atomredmetzoloto seeks to provide a high level of openness and transparency of its operations, maintaining active communications with all stakeholders, implemented through public reports.
ARMZ traditionally has prepared the annual report in close cooperation with its stakeholders. In accordance with Stakeholder Engagement Standard AA1000SES, four discussions were held during preparation of the Report to discuss its concept, priority topic and draft annual report itself. Stakeholders were also involved in the procedure of highlighting material aspects and public assurances of the Report.
For the first time in 2015, we decided to put quotes of the Company’s employees in the annual report. This is done in the form of "stakeholder question posed during discussion - answer of the Company’s representative". This form reveals the close relationship between the process of annual report preparation and consideration of the views of all stakeholders.