Mining Sector

Prizma’s engagement in the mining sector range from specialized environmental and social risk assessments, supporting Independent Engineers and Independent Monitoring Groups, to international arbitration and sustainability reporting. Examples are highlighted below.

Kumtor is a high altitude open-pit gold mine located in the Kyrgyz Republic in Central Asia. Kumtor is the largest gold mine operated in Central Asia by a Western-based company. It was originally project financed by the EBRD and IFC.

In recent years, the Kumtor operation contributed over 10 percent of the GNP, over 25 percent of the total industrial output and nearly 40 percent of the total national exports for the Kyrgyz Republic.

Prizma was initially engaged to provide independent assessments of a series of reports by Kyrgyz commissions relating to the environmental performance of the Kumtor gold mine. Subsequently, Prizma was invited to conduct a series of other environmental and sustainability interventions, including the following:

  • Developing a cyanide-wildlife risk study
  • Developing the company’s first GRI-based sustainability report
  • Developing a carbon footprint
  • Training community relations, environment and communication teams
  • Developing a biodiversity management strategy and plan
Prizma has also supported Independent Engineers with their review of mining projects and developments on behalf of investors, and conducted sustainability reporting-related assurance engagements.

Photo credit: Kumtor