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29 April 2020
ARMZ and PIMCU Listed as Backbone Enterprises of Russia
This decision was made at a meeting of the Government Commission on Improving the Sustainability and Development of the Russian Economy (Minutes No. 9kv dd. 24.04.2020) in accordance with the Criteria and Procedure for Listing Backbone Enterprises of the Russian Economy (Appendix to Minutes No. 7kv of the meeting of the Government Commission on Improving the Sustainability and Development of the Russian Economy dated 10.04.2020).
In accordance with the explanations of the First Deputy Prime Minister of the Russian Federation, Alexey Belousov, obligations will be imposed on the enterprise included in the List to weekly provide State Information System of Industry (GISP) with information on the dynamics of indicators reflecting changes in its economic status. This data, inter alia, will be verified by banks where the enterprise has its accounts. The backbone enterprise may claim support measures, including preferential loans for business operations.
«First of all, the Government Commission’s decision emphasizes the status of large uranium mining enterprises with continuous production cycle, supplying the Russian nuclear industry with strategic metal. PIMCU is an element of the backbone of Russia, a city-forming enterprise. We have guaranteed and still guarantee the unconditional fulfillment of the production plan in any conditions, the preservation of jobs, and the implementation of investment projects in accordance with the schedule. The economic situation is getting harder every day and, of course, our Mining Division would like to have a certain «rainy-day fund», commented Vladimir Verkhovtsev, Director General, ARMZ Uranium Holding Co.
