All posts by : Kristina

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

A global initiative launched by the European investor in Bucim and Borov Dol is looking for young talents keen to participate in an international music performance.

January 07, 2022. Radovish, North Macedonia. The initiative is aimed at providing young people with tools to help them find better employment or establish private enterprises in the future. It is run as a part of Solway Group’s partnership with the world renowned Salzburg Festival. 

Now approaching its sixth year, @creative.fellowship is thrilled to announce calls for applications to its seven-month long talent showcase, #espyme. Young people from North Macedonia aged 14 -17 with the interests in drawing, photography, filmmaking, fashion design, acrobatics, dancing, acting, playing instruments and singing are invited to fill in the form with a link to their open social network profiles and/or share a 90-second presentation video demonstrating their respective talents. Applications are open at www.creativefellowship.org.

The @creative.fellowship program consists of two selection stages and three participatory modules aimed at improving the participants’ English language skills, introducing them to the basics of Art History, meeting international artists, and learning to collaboratively create artistic projects in cooperation with candidates from other countries. 

In January 2022, after the first selection round, fifteen candidates from North Macedonia will be admitted into the final selection round. Two winning finalists — continuously and actively engaged in all the program’s activities, displaying a visible improvement in their academic and creative achievements — will be awarded the opportunity to go to Salzburg in July 2022 and participate in staging a musical performance at the Salzburg Festival’s opera camp. This international artistic collaboration will result in a public performance that will premier within the Festival’s Jung&Jed*er program. The @creative.fellowship finalists are not expected to have previous experience in playing an instrument or singing.  During the preparation stage of the program, all participants will create their own artistic portfolios which can be used for advancing their creative careers.  Participation in the @creative.fellowship program and two trips to Salzburg for the winning finalists are free of charge. 

On the eve of the New Year and Christmas holidays, the Borov Dol and Bucim mines donated New Year’s gifts and food packages, in order to contribute to the beautification of the upcoming holidays, to bring joy to the children and local residents of nearby communities.

By donating 100 packages of food products to the Municipal Organization Red Cross – Radovish, intended for socially disadvantaged families from the municipality of Radovish and the municipality of Konce, the mines Borov Dol and Bucim started the traditional Christmas donations. Over the past two weeks, the managers of Bucim and Borov Dol visited the kindergartens in Radovish and Konce, the users of the Daily Center for People with Intellectual Disabilities Poraka, the youngest members of the wrestling club Bucim and made them happy with New Year’s gifts. 

The distribution of New Year’s packages for the children of the employees is a long-standing tradition. The mines also donated Christmas packages to the Municipal Red Cross – Radovish for the youngest members of socially vulnerable families in Radovish, to the Association of Turkish Humanitarian and Cultural Activities, the Association of Persons with Physical Disabilities from Radovish and Konce “Mobility”, as well as the children of socially vulnerable families in Konce.

“Every child’s smile is a great joy. During the holiday period, we tried to make the children happy, to create beautiful holiday moments and to help socially vulnerable families. The holidays are a moment for new hope and new faith that a better and more successful year is ahead for all of us,” explained Ivica Karapetrov, acting General Manager of Borov Dol.

Bucim and Borov Dol traditionally, on the eve of the New Year’s and Christmas holidays, give New Year’s packages to the youngest members of their local communities. This year, more than 1,000 Christmas packages were distributed, in order to bring many children smiles and add to beautiful holiday moments and memories.

“The holidays are a time when we wish each other a lot of health, a lot of joy and a lot of happiness for the coming year. The greatest and most important is the joy and happiness of children. With the desire to beautify their holidays by giving them New Year’s gifts, we tried to contribute to the festive atmosphere”, added Oleg Chusovitin, General Manager of Bucim.

The mines as before, and in the future, will continue with the realization of humanitarian and socially responsible activities, to improve and enhance the life of local communities. This year, the New Year’s donations were completed with the allocation of funds in the amount of €5,000 to the Daily Center for Persons with Intellectual Disabilities Poraka, for improving the building. 

Radovish, 28 December 2021 – With an understanding that all facts must be presented before any direct accusations are made targeted at DPTU Borov Dol DOOEL Radovish with regard to pollution of the artificial lake-accumulation Mantovo in the Municipality of Konce, we hereby inform the public of the following:

Information was published in the public domain on 27 December 2021 about potential contamination from the operation of the Borov Dol mine. On 28 December 2021, at the indicated locations, in the presence of the Mayor of Konce, Acting General Manager of Borov Dol, an employee of AD Vodostopanstvo Radovishko  Pole, the mine’s expert teams, together with the competent bodies from the State Inspectorate of Environment (SEI), performed field inspection. Samples of water and soil were also collected in order to assess the presence of potentially harmful chemicals, as well as to determine their type.

Water and soil samples were submitted for further detailed laboratory tests in accredited laboratories and will be processed as soon as possible. The results of the analysis will be submitted to the competent authorities, and they will be publicly announced. 

Additionally, on 29 December 2021, the State Environmental Inspectorate (SEI) conducted an additional field inspection to check the state of the environment in the indicated places, as well as to collect samples for further analysis and determination of the actual situation on the ground.

The Borov Dol copper mine operates in accordance with the established norms and standards of the environmental protection system according to its A-Integrated environmental permit, which includes working conditions, duties, measures and activities to be taken into account for environmental protection. At the same time, the mine regularly monitors its environmental impacts and submits frequent reports to the competent institutions responsible for oversight.

DPTU Borov Dol DOOEL Radovish prioritizes operating transparently and responsibly. The mine provides transparent, open access to information and field inspections performed by all institutions to civil society organizations, as well as the local population and the media, for further clarification or response to any inquiries from the public or stakeholders.

In order to contribute to the preservation of the cultural heritage in North Macedonia, which celebrates the cultural identity of the Macedonian people, the Borov Dol mine donated goods and services valued at approximately €14,000 during the second half of 2021. 

For the development of the economy of the Monastery “St. Gavril Lesnovski” in the village Lesnovo, Probistip, which is based on the production of cow and sheep milk, Borov Dol helped the newly built monastery’s modern farm and barn for breeding and milking cows, and donated a generator for electricity production and power supply to the farm for the organic production of milk. This facilitates the whole process of the monastery fraternity of the Lesnovo Monastery, consisting of three monks who independently maintain and renovate the monastery complex, which has an important place in Macedonian cultural history and is key to the development of rural tourism in the region.

Over the past few months, the Borov Dol mine, in line with its commitment to supporting the traditions of the people and cultural heritage, procured copper sheet metal in August for the needs of the Monastery “Holy Mother of God” in Kichevo. It was used to complete the construction of the monastery fountain by covering the roof with copper. In November, the road connecting the village of Injevo with the Monastery “St. Archangel Michael” in Radovish was paved, providing access to the monastery for the celebration in honor of the patron saint of the monastery, the Feast of St. Archangel Michael. This feast is one of the biggest Christian holidays when locals celebrate their protector.

“Our country has a rich cultural heritage which is of immeasurable importance. It should be protected, preserved and maintained as a lasting pledge for future generations. We recognize the importance of protecting and preserving our shared cultural heritage and its significance. For these reasons, we will continue with such support, which is essential, because they contribute to the preservation of the cultural heritage in the country, as well as to the sustainable development of communities. Investing in cultural heritage has a reciprocal effect on overall development. Apart from the spiritual significance and cultural importance, the cultural heritage is also an important resource for encouraging the economic and tourist development of rural communities,” said Ivica Karapetrov, acting General Manager of Borov Dol.

DPTU Borov Dol DOOEL Radovish is committed to promoting environmentally sustainable development in its operational processes and activities. Within its competencies, and in accordance with its program of activities in the field of environmental protection, the mine carried out afforestation on the territory of its concession area.

In cooperation with PE National Forests’ subsidiary Plachkovica in Radovish, the copper mine Borov Dol, implemented afforestation this year of the bare area near the dam located in the area of the technological water treatment plant. 500 seedlings were planted on an area of ​​817 m², of which 200 black pine seedlings and 300 acacia. The expert team from Plachkovica made the selection of afforestation seedlings and played an active role, particularly in field preparation and providing professional assistance, in order to obtain optimal results.

The greening of this area, in addition to contributing to the preservation of biodiversity, will help mitigate the erosive processes, as well as prevent further occurrence of torrents in the catchment area of ​​Penliv Dol and Kriva Lakavica River. The seedlings will also protect against water erosion, which is particularly pronounced in rainy seasons.

“Reasonable use of natural resources and proper management – that is our motto. We carry out our activities through proactive participation and constant communication regarding the environment with all partners, institutions, and civil associations. Our operational plans include preventive measures and activities that provide protection for and improvement of the surrounding environment. This is a continuation our pledge to care for the environment. With the implementation of the afforestation program, we are greening bare lands, which will improve the local ecosystem, as well as reduce or stop erosive processes,” explained Pavlo Krivinsky, General Manager of Borov Dol.

Moving forward, in cooperation with PE National Forests, the Municipality of Radovish, and civil associations, other locations in the immediate vicinity of the mine will also be afforested, in order to renew the burned green areas in the village of Damjan, Radovish which were affected by the recent forest fires.

The Borov Dol mine, in cooperation with the Macedonian NGO “Youth Can” and the German foundation “Schuler Helfen Leben”, supported the global initiative Solidarity Action Day – Social Day, which was held for the first time this year in North Macedonia.

A total of 26 high school students had the opportunity for one day be a part of the Borov Dol team and experience the work dynamics in the mine, by performing the duties of a geologist, environmental engineer, head of finance and accounting, accounting officer, head of human resources, chief energy officer, head of commerce, operator in dispatch center, OSH engineer, head of production technical department, chief mechanical engineer, secretary, and archivist.

Students from the high school “Slavcho Stojmenski” in Stip and from the high school “Kosta Susinov” in Radovish, in addition to having the opportunity to learn something more about the tasks and responsibilities at work, also had the opportunity to experience potential areas for future employment and further education. The one-day work engagement enabled the teens to become acquainted with jobs they may wish to pursue in the future, learn something more about the chosen profession, gain work experience in real conditions, connect acquired theoretical knowledge with practical skills, and at the same time gain an expanded opportunity for choosing professions and perceiving opportunities for professional and career development through the sharing of expertise, knowledge and experiences by the employees of Borov Dol. In addition to performing their duties, the students had the opportunity to explore the mine and get acquainted with the overall work process at Borov Dol.

“We are open for cooperation which contributes to the support and development of youth initiatives. We were honored to take part in the first Social Day in North Macedonia, which promotes solidarity and activism among young people. Borov Dol “hired” 26 high school students, who were all given the opportunity through their appointed mentors to become better acquainted with the real work that goes on inside the mine. We hope we have been able to broaden students’ horizons in the context of their future professional aspirations, and have encouraged them to start thinking about their career paths. We are especially glad the daily wage they received for working on this day will be donated to a youth fund that supports a range of youth initiatives,” said Pavlo Krivinsky, General Manager of Borov Dol.

Solidarity Action Day is a day in which high school students replace a school day with a work day, with students donating their per diem to a fund to support the implementation of youth projects. On this day, students are given the opportunity to work at a job of heir choice instead of going to school. The purpose of Social Day is to establish solidarity among young people during their school days, to inspire active citizenship, and sustainable social development led by young people.