Udokan Copper, one of the companies owned by USM, the holding company of Russian billionaire Alisher Usmanov (Alisher Usmanov), has announced that it has joined the United Nations Global Compact.
Joining the initiative means that the company voluntarily agrees that its business strategy and operations should be consistent with the 10 United Nations principles on human rights, labour, the environment and anti-corruption, as well as the United Nations Sustainable Development goal (SDG).
Normally, participants in the UN Global Compact are established operators, but Udokan Copper, which is developing the Udokan copper mine in the post-Baikal region of Russia's far East, has decided to join the UN initiative during the construction phase.
According to the miner, the reason for this is that it has followed ESG's global best practices, minimized its carbon footprint and implemented a large-scale social investment program that has spent more than $24 million on social initiatives.
Udokan Copper was established to develop a deposit of the same name, which has a resource of more than 26 million tons and is considered to be the largest new copper deposit in Russia.
According to JORC, the deposit has a resource of 26.7 million tons of copper with a copper grade of 1.05%. The deposit is located in Karal City, post-Baikal border region, 30 kilometers away from the Sinkara station on the Baikal-Amour trunk line.
The project includes the commissioning of a mining and metallurgical plant, with the final product being cathode copper and sulphide concentrates. Production is estimated at 135000 tons of copper per year.
