We use cookie files and similar technologies to ensure that users are as comfortable as possible
OK

CORUM GROUP PRESENTED THE COMPANY’S 2030 DEVELOPMENT STRATEGY

CORUM GROUP PRESENTED THE COMPANY’S 2030 DEVELOPMENT STRATEGY

Corum Group CEO Mikhail Potapov presented the Company's long-term development strategy until 2030. The Company undertook to transform and adapt the business to enhance the compliance with the relevant challenges put forward by the clients and society, as well as to become their eco-friendly, technological and efficient partner.

The new Corum Group’s strategy assumes both the specific modernisation of the existing production ensuring its maximum efficiency, as well as the development of essentially new products and services not connected with the underground coal mining. Such decision on diversification of business has been made after the detailed analysis of branch trends in the existing markets of the Сompany and the forecast considerable decrease in electricity generated by the coal TPPs under the influence of a decarbonisation trend.

In addition, the Company plans to develop the sales of the mining equipment to those countries which are expected to increase the power generating coal production during the next decade. The Company’s task is to promote the effective underground mining operations in these countries to reduce the volume of the open-pit production, which is the less eco-friendly production method.

Another important direction of development of the Company till 2030 is the expansion of volume and diversification of the mine construction services. By 2025, being focused in the mines extracting the coked coal grades, iron ore, non-ferrous metals and potassium salts "Corum Shakhtspetsbud" is going to increase the sales almost by 3.5 times. This strategy started successfully in 2020 with the beginning of construction of the Southern Air shaft No. 2 for the Zaporizhzhia Iron Ore Plant.

"For Corum Group, business transformation is not something new – we have been continuously changing and enhancing since the Group’s consolidation in 2011 – noted Mikhail Potapov, the CEO of the Company. – But modern economic realities create the difficult conditions and challenges – to keep the leader positions, business processes need to be reconstructed quickly and effectively. Already by the end of 2021 we are going to receive the first results on some directions. The task is more than ambitious, but I am convinced that our team will cope with it".

All process of implementation of Strategy and work in each of the directions will be based on the Company’s values and the principles of sustainable development of ESG (Environmental, Social, Governance) – with care of the environment, employees and partners of Corum Group.

#