Press-release: SPb-Giproshakht First Russian Mining Design Institute to Meet International Standards

November 12

The SPb-Giproshakht Ltd. Institute is the first Russian mining design company to start working in accordance with the international standards, with a cooperation agreement having been signed between SPb-Giproshakht and SRK — the leading international mining consultant company.

Zygmunt Fuginski, SPb-Giproshakht CEO, commented: ‘The main idea behind this agreement is to achieve a synergies from the mutually beneficial relations between one of the leading Russian institutes and the internationally recognized consulting company. It will enable us to offer our clients design services meeting both Russian and international standards.

Z. Fuginski also noted that SRK has a very strong international reputation. So, cooperation with it in design work will take into account the requirements of international financial institutions, which can facilitate investment for clients.

SPb-Giproshakht was founded in 1928 in Saint-Petersburg. It was formerly the Soviet governmental mining consultancy authority. ‘Gipro' relates to its former government affiliation and ‘shakht' to mining. The company was the USSR's only mining institute licensed to work internationally. More than 350 Russian and about 100 overseas mining and oil shale companies were built and reconstructed with a total design output of 300 million tonnes per year. Having become a part of the Russian industrial group SeverStal in 2005, SPb-Giproshakht still has ongoing international cooperation.

SRK has more than 30-years worth of experience of mining companies in various countries. Among SRK's 1500 clients are the world's major and medium-sized metal and mineral mining houses, exploration companies, banks, petroleum exploration companies, construction firms and government departments. Globally employing more than 600 people it provides services in 31 permanent offices on 6 continents.