19th Aug 2020 08:12
(Alliance News) - Polymetal International PLC on Wednesday said it has signed a memorandum of understanding with SMT Scharf AG for a potential 10-year collaboration in the development of electric vehicles.
The precious metals mining company said that initially the collaboration will be focused on mid-ranged load, haul and dump machines and trucks, with potential involvement of drill rigs and utility vehicles in the future.
Two pairs of units will be tested at Polymetal's operations over a one year trial after which there will be a collaborative re-design, signing of distribution agreement, and establishment of an after-sales support centre.
Polymetal Chief Operations Officer Vitaly Savchenko said: "The partnership with SMT grants us an easy access to customisable battery electric vehicles which could positively contribute to our operating costs dynamics, GHG emissions and personnel safety at underground mines.
"It fits well into our strategy to gradually involve electric vehicles across the group's operations and marks another step towards cutting carbon emissions by 5% in 2023."
Polymetal shares were down 0.8% at 1,994.34 pence on Wednesday morning in London.
By Greg Roxburgh; [email protected]
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