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Procurement Policy

GV Gold is aimed at establishment of long term mutually beneficial cooperation with its partners and suppliers. Selection of counterparties is carried out in a centralized way on the tendering basis on the web site.

The Company’s approach to relations with the counterparties allows to:

  • Ensure the maximum economic feasibility, efficiency and transparency of the procurement;
  • Achieve the optimum competition among the potential tender participants;
  • Ensure the legitimate and impartial tender award decision.

The counterparties are selected based on the following criteria: optimum balance of the price, quality, delivery time or work performance time, solvency, availability of required technical and human resources, availability of references and knowledge of the gold mining industry specifics. One of the key counterparty selection criteria is a compliance of the counterparty with the EHS standards adopted by the Company.