Posts in category: news

The Borov Dol mine proudly announces the donation of a state-of-the-art playground for the children of Shtip. This initiative underscores the company’s dedication to community enhancement and its commitment to fostering better living conditions.The newly constructed children’s playground, furnished with modern equipment for both individual and group activities, was officially opened on October 27, with the presence of Shtip citizens, local government representatives, and members of the Borov Dol mine team. The estimated value of this donation is approximately 22,000 euro.

“We firmly believe that this contribution will significantly enrich the playful experiences of the youngest residents of Shtip. The playground was established in collaboration with the Municipality of Shtip, which identified Borov Dol Mine as a crucial partner for supporting socially impactful projects such as this children’s playground,” stated Ivica Karapetrov, Deputy General Manager of Bucim and Borov Dol.

The Mayor of the Municipality of Shtip, Ivan Jordanov, expressed his gratitude for the donation, emphasizing that it fulfills a crucial need for the city, providing essential resources for the proper development and socialization of children. “Borov Dol’s decision to donate such a facility for our young ones is a testament to their social responsibility. I am confident that the children will make good use of and cherish this space. I extend my heartfelt appreciation to the Borov Dol мine for responding our call and contributing to the enhancement of the Senjak neighborhood, providing a delightful corner for the younger generation to enjoy and relax.“

The Borov Dol Mine maintains consistent engagement with communities and prioritizes its growth and development through continual collaboration with residents, regardless of the project’s scale, be it local or national. “Only through responsible action we can effectively foster tangible changes within communities. Our efforts are geared towards establishing enduring values and ensuring sustainable opportunities for growth and societal development,” remarked Alexandr Rakov, General Manager  of Bucim and Borov Dol.

Bucim made its debut at the Wizz Air Skopje Marathon, with over 20 employees joining the 5 km team race held on October 1, 2023, during the country’s most significant sports event.

Driven by the spirit of recreation and camaraderie, Bucim sponsored its employees’ participation in the 19th edition of the Skopje Marathon, providing them with necessary running gear. Committed to the well-being of its workforce, Bucim supports initiatives that enhance both physical and mental health while fostering unity within the team.

The employees successfully completed the marathon, crossing the finish line with commendable achievements. With over 11,000 participants, the event proved to be instrumental in strengthening team cohesion and provided an enriching experience for the Bucim team.

“The participation of our employees in this athletic endeavor exemplifies the collective energy and enthusiasm within our company. I anticipate this marathon becoming a cherished tradition, promoting the values of a healthy lifestyle and teamwork among our employees.” – Alexandr Rakov manager Bucim and Borov Dol

Bucim and Borov Dol backed the “Superior Runs – Get Up and Run!” campaign, demonstrating their dedication to an active lifestyle and the local community. The citizens’ association organized the inaugural race in Shtip, which received the support of the two mines.

The participation of Bucim and Borov Dol’s employees in this initiative signifies a further stride in promoting the importance of a healthy lifestyle, a value cherished by both establishments. In line with this ethos, the employees, alongside the corporate management, joined their first marathon on April 30 in Shtip. 15 employees participated in the “Superior Runs 5k” race, successfully completing it alongside the management team.

Besides endorsing the event, Bucim and Borov Dol actively engaged in the city race to foster enthusiasm for sports and emphasize the impact of physical activity on individual and collective well-being. This involvement not only encourages a healthier lifestyle among the employees but also fosters a stronger sense of community and teamwork. Moving forward, the mines plan to continue supporting initiatives that encourage a healthy and dynamic lifestyle within the community and among their staff.

@creative.fellowship initiative (CFI), an edutaining  activity, run in N.Macedonia in cooperation with DOOEL Bucim Radovish  as a part of the global program for young talents since 2017  will assist Macedonian applicant invited to audition for a training contract at the Jugendkompanie of Ballettakademie der Wiener Staatsoper. 

This one-time assistance will be provided to one applicant, officially invited by the Ballettakademie der Wiener Staatsoper to take part in its in-person audition held on March 12, 2023 in Vienna and will cover an economy class air ticket Skopje – Vienna – Skopje, one night stay at a two star accommodation facility as well as an in-person supervision during the visit that would not include the escort’s presence at the audition. Audition at the Ballettakademie der Wiener Staatsoper is by invitations only. 

To be eligible for this exciting opportunity, applicants must be between 17 and 20 years old at the time of the audition and have a professional dance education with a focus on classical ballet.  To be invited to the audition candidates must send their CV, photo, and a video link of their barre, middle, jumps, point (ladies), classical and contemporary solo to Mr. Callum Hastie, Ballet Master of the Jugendkompanie at Callum.Hastie@wiener-staatsoper.at by February 24, 2023. 

The Jugendkompanie  of Ballettakademie der Wiener Staatsoper provides a comprehensive training program to its members, granting them a maximum of two seasons to hone their skills and gain valuable stage experience in close cooperation with the Wiener Staatsballett. The dancers receive additional training, individual coaching, and regular opportunities to perform in productions of the Wiener Staatsballett. As a member of the Jugendkompanie, the student will receive a flat-rate reimbursement of EUR 650.00 per month to cover expenses. 

To apply for CFI assistance the selected candidate should send his/her request with  the proof of official invitation to the audition from Ballettakademie der Wiener Staatsoper to info@creativefellowship.org  Applications for assistance will be considered on the first come – first served base only.

Don’t miss this once-in-a-lifetime opportunity to audition for a training contract at one of the world’s leading ballet academies. Showcase your talent, receive top-notch training, and gain valuable stage experience at the Ballettakademie der Wiener Staatsoper. 

In N.Macedonia Creative Fellowship initiative (CFI) is run in cooperation with DOO Buchim Radovish with support of Solway Investment Group.  The program enhances the development of life essential skills and competencies that boost creativity, as well as stimulates quality, innovation, and the recognition of the work of young people. The fellowship supports these young people in pursuing their creative potential, thereby contributing to improvements in the quality of life in underprivileged economies.

Bucim DOOEL Radovish is continuing its commitment to sustainable community development with its latest initiative in Konce. Last year, the company started a similar initiative in the city of Radovish, and this new project is the second of its kind. With a donation of 10,000 m3 of crushed stone buffer, worth approximately 40,000 euros, Bucim is providing vital support to local infrastructure projects.

The crushed stone buffer will be used to improve local streets, enhancing access to homes and improving communication and connectivity between settlements. Bucim’s dedication to sustainable community development is reflected in this donation, which will positively impact the lives of residents in the area.

“At Bucim, we strive to be responsible corporate citizens, and we are proud to make a positive impact on the communities in which we operate,” said Oleg Chusoviton, general manager at Bucim DOOEL Radovish. “Our donation of crushed stone buffer is a tangible expression of our commitment to sustainable community development, and we are thrilled to support the municipality of Konce in their efforts to improve local infrastructure.”

This new initiative from Bucim builds on the company’s ongoing commitment to social responsibility, sustainability, and community development. By donating crushed stone buffer to local infrastructure projects, Bucim is demonstrating its dedication to the growth and development of the community.

After reviewing the videos of the news on TV24, report by the journalists Stojancho Micevski and Aleksandar Todeski entitled “One of the two directors of the Bucim mine on the black list of the USA” released on November 26, 2022 and “Kudryakov is still in the Central Registry of Bucim, the company says that he has been dismissed ” posted on November 28, 2022, please see the below point by point factual corrections. After reviewing this, we respectfully request that this be corrected in the public record. We reserve all rights. 

Claim

One of the two directors of the Bucim mine in Radovish is on the US blacklist – the State Department suspects Dimitry Kudryakov of Russian influence and corrupt schemes in Guatemala. Bucim says that he has been suspended. Officially, Kudryakov still appears as the manager of Bucim.

Response

Dmitry Kudryakov was immediately suspended as of November 18, 2022, the date that Solway learned of the US sanctions. The resolution for his recall from position as Managing Director was delivered to the Bucim for proceeding in the Central Registry of North Macedonia which .official procedure takes up to 5 working days.  All the required suspension procedures were completed accordingly, and on 29^th of November the change was effected in the Central Registry.

Claim

Dmitry Kudryakov is represented as the leader of the Russian operations of Solway in Guatemala, who, together with the Belarussian citizen Iryna Litviniuk, for years led schemes for bribery, support for corruption, misuse of state funds, in which judges, government representatives were involved.

Response

We reiterate that Solway Investment Group is not a Russian company, is not owned by Russian citizens and does not have any business relations with Russia. As early as 3 March 2022, Solway clearly stated its position against the war in Ukraine and announced and ultimately completed its withdrawal from its only two investments and operational projects in Russia at the time which represented less than 10% of the global operations of Solway 

Solway’s subsidiaries in Guatemala Compania Guatemalteca de Niquel SA (CGN), Compania Procesadora de Niquel de Isabal SA (Pronico), are not and have never been owned or controlled in whole or in part by either of the two individuals mentioned as sanctioned. These entities and Solway are not owned, associated or affiliated with the Russian state government. 

Only one out of the two managers sanctioned by the US was employed in North Macedonia and he is suspended as of November 18, 2022, as referenced above. Importantly, the US sanction deals with Guatemala and does not reference any activity in Macedonia. Solway has engaged lawyers and investigators to investigate the allegations in the sanctions and is doing a top to bottom and bottom to top independent review of its anti-corruption compliance systems. Solway has zero tolerance for bribery, corruption or any manner of breaking the laws of the countries where Solway operates. 

Employees, officers and directors of Bucim and Borov Dol take this matter very seriously and believe in strict compliance with all government laws in the conduct of our businesses. Through the U.S. law firm Seiden Law Group LLP we are fully cooperating with the US government. It is actively investigating the facts and circumstances that gave rise to the alleged conduct by the now-suspended employee related to their sanctions and is instituting measures to ensure full compliance with the sanctions and investigation of any of the alleged conduct referenced in the sanctions. 

Claim

It is noted that Solway through the subsidiary Bucim stated that Dmitriy was suspended immediately on 18.11.2022 and is no longer employed by the Group and its subsidiaries.

Response

We note that Solway is not sanctioned and is in the process of working with the US to have a transparent and amicable resolution to this matter as soon as legally possible. By resolution of Bucim’s shareholders Dmitriy Kudryakov was officially revoked from any connection with Bucim, including his previous position of manager of Bucim. The official changes in current standing were effected on 29^th of Novemebr.

Claim

It was stated that no answer was provided to the question whether Kudryakov operated from Macedonia. (Is Kudryakov on some position in your companies in Guatemala, or was he operating from Macedonia, according to the US Department of the Treasury)

Response

Dmitry Kudryakov has been working in North Macedonia only since June 2021. And he was permanently in Guatemala and began to periodically stay in North Macedonia only from August 2021. His stay in Macedonia was less than 180 days during the year.

Claim

The recent meeting with the President of the Chamber of Commerce and the President of the Macedonian Mining Association is mentioned, in connection with the energy crisis. In the narrative it mentions that Dmitry Kudryakov was leading the negotiation in the name of Bucim and Borov Dol.

Response

No evidence has been presented raising suspicion at this time. Solway will investigate any matter brought to its attention that involves improper conduct. High price of electricity is the main issue for all production capacities in Macedonia. Finding a solution for acceptable price range for electricity at this time is the main task for every company. In this way Bucim, as the main consumer of electricity in production process Bucim and Borov Dol, together with President of Chamber of Commerce as leading Chamber in Macedonia and Macedonia Mining Association are seeking all possible solutions for electricity price reduction which is common practice of cooperation worldwide. 

Claim

Mining secrets publications and allegations related to bank transfers of 1,9 bln USD with Estonian banks

Response

The report prepared by Clifford Chance law firm indicates that at first Clifford Chance started investigating all accounts assigned to non-Estonian residents and off-shore companies. Companies mentioned in the articles could have been indicated as high-risk companies by the initial investigation according to these criteria. As far as we know none of these companies or the shareholders were included in the final Clifford Chance report.

Claim

Kudraykov is not unknown in the mining sector in Macedonia, he was the general director of the SASA mine since 2006 when the owner of the mine was the company Solway Investment Group, the current owner of Bucim. He returned to the country last year, as the economic director of Bucim, after he was previously delegated to Guatemala, where he is suspected of conducting several schemes for Russian influence with the Belarusian citizen Irina Litvinyuk, in which, according to the State Department, politicians, judges and government officials were involved.

Response

Dmitriy Kudryakov was appointed as Managing Director of Bucim in June, 2021.  His area of responsibility included only technological issues of the mine, and he has never been economic director of Bucim.  His responsibility as Managing director of company is stated in articles of Trade Companies Law of Macedonia and describe in the Foundation Statement of Bucim which is public document and is available in Central Registry of North Macedonia.

In response to the recent statement by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) on sanctions targeting alleged Russian involvement in Guatemala’s mining sector, on behalf of Solway Investment Group we would like to declare the following:

Solway Investment Group (“Solway”), a Swiss family-owned company, and all of its subsidiaries, employees, officers and directors take this matter very seriously and believe in strict compliance with all government laws in the conduct of our businesses. Solway is fully cooperating with the US government through our U.S. law firm Seiden Law Group LLP. It is actively investigating the facts and circumstances that gave rise to the alleged conduct by two now-suspended employees related to their sanctions. We note that Solway is not sanctioned and plans to have a transparent and amicable resolution to this matter as soon as legally possible. We further note that the sanctioned entity Mayaniquel is not and has never been a part of Solway Investment Group.

Solway’s subsidiaries Compania Guatemalteca de Niquel SA (CGN), Compania Procesadora de Niquel de Isabal SA (Pronico), are not and have never been controlled by the individuals mentioned as sanctioned. These entities and Solway are not owned, associated or affiliated with Russian state government figures. Both sanctioned individuals Dmitry Kudryakov and Iryna Litviniuk had held management positions in the subsidiaries for many years; both have been immediately suspended from their positions pending the results of the investigation by outside legal counsel.

We emphasize that Solway Investment Group is not a subject of the recent decision by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) on sanctions targeting Russian involvement in Guatemala’s mining sector and does not fall under sanctions.

We reiterate that Solway is not a Russian company and does not have any business relations with Russia. As early as 3 March 2022, Solway clearly stated its position against the war in Ukraine and announced its withdrawal from its only two investments and operational projects in Russia which represented less than 10% of the global operations of the Group and did legally complete this process. Please do not hesitate to contact us for any statement, comment, question or clarification.

Link to the publication: https://solwaygroup.com/2022/11/18/in-response-to-the-recent-statement-by-the-us-department-of-the-treasury/

Bucim reaffirms its commitment to promoting the sustainable development of the local community by supporting the municipality in investments for reconstruction and construction of local road infrastructure.

On June 22, 2022, recognizing the needs of the community DPTU “Bucim” DOO Radovish and the Municipality of Radovish signed an agreement for donation of 10,000 m3 of crushed stone buffer to support infrastructure projects in Radovish, worth about 40,000 euros.

During the upcoming period, the Bucim mine will provide the Municipality of Radovish with a crushed stone buffer intended for the implementation of infrastructure projects in the municipality, which will enable the construction and arrangement of local streets to provide better conditions and allow residents easier access to their homes. It will also contribute to improved communication between the settlements, as well as the surrounding settlements in the region, which is of special importance to the inhabitants and the development of the municipality.

“As partners of the local community, we are focused on providing value to society and are committed to supporting and implementing projects aimed at improving the quality of life of residents of local communities. We believe that through our social responsibility we can contribute to the improvement, advancement and development of the community in which we operate. By supporting the reconstruction and construction of local road infrastructure it will enable the connection of the settlements in Radovish, and thus provide a higher and better standard of living for the residents, which in essence means a constant improvement of living conditions,” said Oleg Chusovitin, General Manager of Bucim.

Radovish, 04 March 2022 – Regarding a text published on the website www.pari.com.mk, entitled “Top 10 companies with Russian capital in Macedonia – annually generate revenue of over 200 million Euros”, which published misinformation, DPTU “Bucim” DOO Radovish denies any allegations that the company is Russian owned.  

In the interest of the truth, DPTU “Bucim” DOO Radovish has a duty to properly inform the public. Since 2005, the Bucim copper mine has been owned by Solway Investment Group – a privately owned Swiss-based international mining and metals company. Solway does not have any Russian capital. It is fully owned and managed by EU citizens. As an international mining and metals company, Solway is active in many jurisdictions including Guatemala, Ukraine, Indonesia, Argentina and North Macedonia employing professionals from all over the world, including staff from FSU countries. Namely, the managers of DPTU “Bucim” DOO Radovish are citizens with citizenship of the Russian Federation, but DPTU “Bucim” DOO Radovish has no Russian shareholders. At the same time, despite the fact that Solway had limited investment and operational activities in Russia, the Group today exited all its projects in Russia. Solway Investment Group strongly condemns the actions taken by the Russian government against the people of Ukraine.

Our public relations service has not been contacted at all, neither by phone nor at the official e-mail address where anyone may reach us. By publishing such inaccurate information, a false image of the company is deliberately created. We ask you to contact the available company representatives in the future.

Radovish, 28 January 2022 – With regard to specific accusations which have been made publicly and more general allegations of pollution at the artificial lake Mantovo as a result of the activities of the Borov Dol mine, the company would like to make the following statement: 

On December 28, 2021, expert teams from the mine, together with the competent authorities from the SEI and professors from UGD-Shtip, collected samples from the soil and water from the artificial lake Mantovo. They submitted these samples to an accredited laboratory for detailed examinations. During the field inspection, no water leakage was found from the mine in the artificial lake Mantovo, nor was any dust found in the air.

The air quality in the vicinity of the Borov Dol mine is monitored at two measuring stations through 24-hour indicative measurements of PM10 particles, at the measuring location Mantovo and measuring location Damjan. So far, the limit for air quality values has not been exceeded. Real-time air quality monitoring data are publicly available at the following link: http://coppermine.ugd.edu.mk/Station.aspx?Station=18.

On December 29, 2021, by an accredited environmental laboratory, in the presence of competent authorities from the SEI, samples were collected again from the waters of the artificial lake Mantovo and submitted to a laboratory to determine the water quality. At the same time, a sample of stone deposited with blue and green particles was taken and submitted for examination by the Institute of Biology at the Faculty of Natural Sciences and Mathematics-UKIM.

From the performed examinations of the submitted samples of the water in Mantovo, the analyses showed the samples collected did not exceed the limit values. There is no presence of potentially harmful chemicals from the activities of the Borov Dol mine in the water of the artificial lake Mantovo. The intense change to the color of the water and the subsequent accumulation and coloring of the shore of the Mantovo dam are both due to the massive development of cyanobacteria. More precisely, a type of blue-green algae named Aphanizomenon klebahnii.

The expert opinion of the Institute of Biology is that this phenomenon poses a threat to the entire ecosystem, as well as to people who use the Mantovo Reservoir for various purposes. Further detailed studies are needed to identify the causes of these algae. The Borov Dol mine will provide detailed studies in order to determine the cause, as well as provide support to the Municipality of Konce in solving its current, most pressing environmental problems. At the same time, in cooperation with the Municipality of Konce, an environmental action will be organized to clean the shore of the artificial lake Mantovo , as well as the weekend settlement at lake Mantovo, for waste disposal and to improve the environmental condition of the surrounding area.

“We strive to ensure social, environmental and economic development in the interest of current generations that preserve values ​​for future generations.We behave responsibly towards the environment and the society in which we work. The mine is built in accordance with modern best technologies and in our current activities we use the best available techniques and practices. We have established a system that enables us to constantly monitor the impacts on the environment and we operate in full compliance with all legal norms and regulations for environmental protection in North Macedonia, ” added Ivica Karapetrov, acting General Manager of Borov Dol.

In addition, we submit the opinions of the State Inspectorate for the Environment:

Link to the published minutes from the SEI from the first performed inspection :

https://m.facebook.com/story.php?story_fbid=338996311402072&id=105140678120971

Link to the published minutes from the SEI from the second performed inspection:

https://m.facebook.com/story.php?story_fbid=339562208012149&id=105140678120971

Link to the published conclusion of the SEI from the results of the performed analyses:

https://m.facebook.com/story.php?story_fbid=223557949967884&id=100069410400559