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Pavel Grachev

Pavel Grachev

Chief Executive Officer, Polyus
Quotes
04.09.2019
EEF 2019
Solid Minerals Mining: How Can the Investment Potential of the Industry Be Utilized Most Effectively?
The abovementioned initiative on expanding the principle of declarative order for receiving subsoil for geological exploration on P1 and P2 categories <…> today is not fully used due to the existing restrictions on the size of available plots: no more than three plots of 100 square kilometres. Given current circumstances and the scale of the Far East, it is clearly not enough. <…> At the stage of geological exploration, area may be and should be much larger
04.09.2019
EEF 2019
Solid Minerals Mining: How Can the Investment Potential of the Industry Be Utilized Most Effectively?
If we compare legislation for liquid and for solid minerals, we see that our colleagues from the ‘liquid’ legislation and those who lobbied for it, have solved many issues. Working at the Federation Council, in our committee we tried to transfer these novelties that make the life easier for those working in oil and gas to solid minerals, but we never succeeded. <…> It would be really groundbreaking and democratic to give us equal rights
04.09.2019
EEF 2019
Solid Minerals Mining: How Can the Investment Potential of the Industry Be Utilized Most Effectively?
We can actually feel not just liberalization, but legislation becoming more grounded, more satisfying, practical, more applicable. Undoubtedly, it is the key factor for the industry development
04.09.2019
EEF 2019
High-Tech Business: Identifying What Is Needed to Achieve Fast Growth
What makes a technologically advanced company different from its competitors? It is the ability to manage a complex business – from geological survey to gold production – through a digital model, starting with a digital geological model that embraces all stages of production and can remotely react to the ever changing factors without human interference
04.09.2019
EEF 2019
High-Tech Business: Identifying What Is Needed to Achieve Fast Growth
The progress and the development dictated by the environment and the changing conditions push us towards participating in the digitalization and the technological breakthrough we have been witnessing over the last five years
06.06.2019
SPIEF 2019
The ESG Race for USD 30 Trillion of Investment is on
Given current trends and the speed at which they become embedded, not only is acquiring new investors at stake, but more importantly, the is the risk of losing existing investors
06.06.2019
SPIEF 2019
An Innovation Economy: Opportunities for Smart Specialization in the Regions
Digitalization has become an essential need for us. Taking into account the volume of mining operations that Polyus currently performs, which is 300 million cubic metres of ore per year, it is simply impossible to process such volumes without appropriate IT support
06.06.2019
SPIEF 2019
Digital Subsoil Use
The bond between the three elements – IT, production business and managerial potential – is the guarantee for applicability of any digital initiative
06.06.2019
SPIEF 2019
Digital Subsoil Use
Any innovation should be driven by an economic need. <…> On one hand, we belong to the most active participants [of the digitalization] – our IT budget – or the digital transformation budget, so to speak – is something between USD 70 and 100 million annually. On the other side, we are always very cautious and urge to avoid the so-called digital romanticism, which means digital transformation for the sake of digital transformation. It is not just about the budget to implement, but more about where it will take the business that basically runs and about the risks it creates
24.05.2018
SPIEF 2018
Breakthrough in the Far East: How to Become a Leader for Growth in Private Investment
Last year a very important concession was provided: discounted electricity rates in the Far East <…> Yet the goal that has been set, namely to attract new investors in my opinion hasn’t been reached
24.05.2018
SPIEF 2018
Breakthrough in the Far East: How to Become a Leader for Growth in Private Investment
In terms of taxes I believe everyone would agree that in the past few years the Ministry of Finance and the Ministry for the Development of the Russian Far East worked together relentlessly that resulted in sustained supporting elements that have been passed on to the regions