Udokan Copper, a company of Russian billionaire Alisher Usmanov’s holding company USM, has confirmed its participation in the UN Global Compact.
When a corporation joins the effort, it voluntarily pledges to match its corporate strategy and operations with the UN Ten Principles on human rights, labor, the environment, and anti-corruption, as well as the UN Sustainable Development Goals (SDGs).
Normally, UN Global Compact participants are fully operational firms, however Udokan Copper, which is developing the Udokan copper deposit in Russia’s Far East’s Zabaikalye Territory, chose to join the UN project while still in the planning stages.
Joining the UN Global Compact entails greater accountability, as well as access to the UN’s and other international participants’ skills, as well as advice from top global experts. This step will help the company improve its reputation, make new business relationships around the world, and participate in global events and UN global initiatives more easily.
Udokan Copper was founded to explore the deposit that bears its name, which has resources of over 26 million tonnes and is Russia’s largest new copper deposit.
With a copper grade of 1.05 percent, the deposit’s resources are estimated to be 26.7 million tonnes of copper. The deposit is located in the Kalar Municipal District of the Zabaikalye Territory, 30 kilometers from the Baikal-Amur Mainline station Novaya Chara.
The project includes the commissioning of a mining and metallurgical facility, with cathode copper and sulphide concentrate as the end products. Copper production is expected to reach around 135,000 tonnes per year.