Operator of Fedorova Tundra Registered in Lovozero Village

01.09.2021
Press release

Fedorovo Resources, the operator of Fedorova Tundra, has changed its registered office with account for the location of the PGM deposit. The Company will still have an office in Apatity as well. The new place of registration is the village of Lovozero, the administrative centre of the Lovozero District in the Murmansk Region. The Company was previously registered in Apatity.

Ensuring economic and social benefits for the region of our presence is among the Company’s key priorities. Amid the ongoing project development, registration in the Lovozero village will improve the municipality’s fiscal capacity and provide additional resources for bolstering support initiatives that target local communities.
Valery Borisov
CEO of Fedorovo Resources

Social and economic impact of Fedorova Tundra covers several municipalities of the Murmansk Region: the Lovozero District, Kirovsk and Apatity, with a total population of over 91,000 people. The project will give a new impetus for the development of the region’s core mining and metals industry, boost municipal budget revenues, and will generate additional resources needed to go ahead with social programmes in healthcare, education, and utility services in the cities and towns of the Kola Peninsula. More information is available in the Report on Preliminary Environmental and Social Impact Assessment of the project, which was published on the Company’s website in August 2021.

The Fedorova Tundra project is currently at the stage of selecting key technological and design solutions. In June 2021, Fedorovo Resources began the Environmental and Social Impact Assessment (ESIA) of the project in compliance with the requirements of international lending agencies. The Company is committed to ensuring full compliance with the Russian laws and follows the world’s best practices and standards for sustainable management of natural resources and stakeholder engagement.

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