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MINEX 2008 AWARD WINNERS

MINEX Awards are being presented in seven different categories. They recognise and promote best corporate and personal achievements in the Russian Mining and reward industry leaders for forward looking business strategies.

Category 1 PROSPECTOR OF THE YEAR


Winner: Fedorovo Resources

Awarded to the company that has made the most progress in discovering, reinterpreting or upgrading a deposit into a large or world-class deposit.

Company/Project Justification
Fedorovo Resources New PGM hard rock deposit/province: Significantly expanded the resource estimate through exploration
«Amur Minerals» New Cu-Ni Far East province: Awarded Discovery status for its exploration of the Kunmanie nickel deposits
«Peter Hambro Mining» Extensive exploration program of assets in Yamal with substantial production potential
«Norilisk Nikel» Expanded the resource base of two new deposits in the Chita region
«Kola Mining» Souker deposit: Expanded the resource base from around 179 Mt to 364 Mt through additional drilling, geological reinterpretation and economic reassessment

Category 2 DEVELOPER OF THE YEAR


Winner: Peter Hambro Mining - Pioneer

Awarded to the company that has overcome significant technical and logistical challenges to either prove a deposit can be developed or actually commissioned one.


Company/Project Justification
Polymetal - Albazino Development of a high quality asset with innovative technologies (Pressure Oxidation)
Peter Hambro Mining - Pioneer Successful exploration, development and launch of the major deposit
High River Gold - Berezitovoye Successful exploration, development and launch of a major deposit
Alrosa Successfully managed the transition from open pit operations to underground mining

Category 3 TECHNOLOGICAL INNOVATOR OF THE YEAR


Winner: Olimpiada Bio Leaching - Polyus Gold

Awarded to the company that has researched new concepts / technologies or implemented new approaches to achieve significant gains in productivity, environmental performance or safety.

BMZ Ni ore heap Leaching Development of a large nickel heap leaching project
Olimpiada Bio Leaching Significant expansion and successful switch from processing oxide ores to sulphide ores using innovative bacterial oxidation technology
Seligdar/Nizhne Yakokit Au Launch of a large heap leaching project located in cold climate

Category 4 MINING PERSON OF THE YEAR


Winner: Vitaly Nesis (Polymetal)

Awarded to the individual who has, through their own ideas and efforts, led a company to success, has implemented concepts which are respected by their peers, or worked to improve the effectiveness of the mining industry.

Person Justification
Jim Sullivan (Kinross) For his efforts to develop the biggest gold mining project Kupol discovered in recent years
Peter Hambro (Peter Hambro Mining) Has demonstrated how international companies can successfully work in Russia
Vitaly Nesis (Polymetal) Has lead Polymetal into being one of the most respected mining companies in Russia
Gennady Kazavoy (Raspadskaya) CEO of Raspadskaya - for his efforts in setting professional standards and making Raspadskaya one of Russia's most efficient coal miners.
Aman Tuleev Governor of Kuzbass - for his efforts to improve the management of methane gas to improve safety and to use the gas as a resource. Also his efforts to get mines to develop social partnership agreements

Category 5 RESPONSIBLE MINER OF THE YEAR


Winner: Evraz

Awarded to the company that has implemented, or committed to implement actions which have significantly improved safety standards, environmental performance or the ability of the community to prosper both during the mines life and afterwards.

Company Justification
SMR For their commitment to reduce SO2 emissions by 90%
Evraz For implementing a safety audit and changing the safety management systems at the Yuzhkuzbassugol operations
Intaugol For their efforts to prepare the community for life after mining

Category 6 MINING COMPANY OF THE YEAR


Winner: Atomredmedzoloto

Awarded to the company that has achieved the most significant gains in value or reputation.

Company Justification
ARMZ For their efforts in modernizing a state mining company and making it attractive to investors
Evraz For their aggressive acquisition of projects in China, Australia, South Africa and elsewhere
Norilsk Nikel For their acquisition of LionOre and other companies to become a global mining company

Category 7REGIONAL GOVERNMENT OF THE YEAR


Winner: Yakutia

Awarded to the regional government that has been the most successful in encouraging responsible minerals development in their region.

Authority Justification
«Yakutia» For their efforts in attracting companies to develop the region: the Kuranakh region, Elga
«Karelnedra» For making it easier for investors to evaluate licences by making the information available on-line
«Chita» For pushing the federal government to enable projects to be developed
«Kemerovo» For their efforts in attracting companies (including international companies) to develop the region and encouraging mining companies to consider environmental and social issues
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