TIDMRSG
RNS Number : 8390L
Resolute Mining Limited
15 January 2021
Report on Payments to Government
Year Ended 31 December 2019
Report on Payments to Government for the Year Ended 31 December
2019
Resolute and its subsidiaries (together, "Resolute") are
engaging in extractive operations as gold mining concession holders
in several locations across the world. This Report provides a
consolidated overview of the payments to governments made by
Resolute for the year ended 31 December 2019 as required under the
UK Financial Conduct Authority's ("FCA") "Disclosure Guidance and
Transparency Rules" ("DTR").
This Report has been prepared in accordance with the rules
enacted by DTR 4.3A that require oil, gas, mining and logging
companies that have securities listed on UK-regulated markets to
annually and publicly disclose any payments made to governments on
a country-by-country and/or project-by-project basis. These rules
apply to Resolute by virtue of its listing on the London Stock
Exchange and Listing Rule 14.3.22R.
This Report has been filed and submitted to the FCA's National
Storage Mechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) and is
also available for download from [Resolute website link to be
included].
Basis of preparation
This Report has been prepared in accordance with The Reports on
Payments to Governments Regulations 2014 as enacted in the UK in
December 2014, as amended in December 2015 and Chapter 10 of EU
Accounting Directive 2013/34/EU.
Payments to governments made by Resolute have been included in
this Report. However, payments made by entities where Resolute has
joint control have been excluded. Government includes any national,
regional or local authority of a country, and includes a
department, agency or entity that is a subsidiary of a
government.
Payments to governments are required to be reported in the
following categories:
-- production entitlements;
-- taxes levied on the income, production or profits of
companies, excluding taxes levied on consumption such as value
added taxes, personal income taxes or sales taxes;
-- royalties;
-- dividends, other than dividends paid to a government as an
ordinary shareholder unless they are paid in
lieu of a production entitlement or royalty;
-- signature, discovery and production bonuses;
-- licence fees, rental fees, entry fees and other
considerations for licences and/or concessions; and
-- payments for infrastructure improvements.
Payments included in the Report are amounts paid, whether in
money or in kind, for relevant activities. Where a payment or a
series of related payments do not exceed GBP86,000 they do not need
to be disclosed. When preparing this Report, a threshold of
US$110,000 (approx. GBP86,000) was applied.
Payments made in currencies other than US Dollars are translated
for this Report based on the foreign exchange rate at the relevant
monthly average rate.
REPORT ON PAYMENTS TO GOVERNMENTS
Table 1 Summary table showing payments to governments for the period ended 31 December 2019
GOVERNMENT REPORT (IN USD)
Taxes Royalties Fees Infrastructure Total
Improvement
----------- ----------- -------- --------------- -----------
Countries
----------- ----------- -------- --------------- -----------
Australia (523,996) 3,958,866 665,915 - 4,100,784
----------- ----------- -------- --------------- -----------
Mali 21,439,225 20,255,116 50,930 1,342,429 43,087,700
----------- ----------- -------- --------------- -----------
Senegal - 3,705,341 29,768 136,642 3,871,751
----------- ----------- -------- --------------- -----------
Ghana(1) - - - - -
----------- ----------- -------- --------------- -----------
Total(2) 20,915,229 27,919,323 746,613 1,479,071 51,060,235
----------- ----------- -------- --------------- -----------
Notes:
(1) For the year ended 31 December 2019, Resolute did not make
any reportable payments to the government of Ghana.
(2) For the year ended 31 December 2019, Resolute did not make
any reportable production entitlement, dividend or bonus payments
to any government.
REPORT ON PAYMENTS TO GOVERNMENTS
Table 2 Government Payments split by project and payee for the
period ended 31 December 2019
GOVERNMENT REPORT (IN USD)
Country Taxes Royalties Fees Infrastructure Total
/ Project Improvement
-------------------------------- ------------ ----------- -------- --------------- ------------
Payee
-------------------------------- ------------ ----------- -------- --------------- ------------
Mali: Receiver General - State of
Finkolo Mali - 15,081,180 - - 15,081,180
-------------------------------- ------------ ----------- -------- --------------- ------------
Receiver General - District 4,003,812 - - - 4,003,812
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Treasury - Sikasso 1,883,015 - 25,256 2,381 1,910,652
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Mali: Receiver General - State of
Syama Mali - 5,173,936 - - 5,173,936
-------------------------------- ------------ ----------- -------- --------------- ------------
Receiver General - District 10,492,674 - - - 10,492,674
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Treasury - Mali 5,059,724 - - - 5,059,724
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Treasury - Sikasso - - 25,674 1,340,048 1,365,722
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Receiver General of Public
Senegal: Treasury (Ministry
Mako of Finance) - 3,705,341 - - 3,705,341
-------------------------------- ------------ ----------- -------- --------------- ------------
Mining & Geology Department - - 29,768 - 29,768
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Kedougou Departmental & Tomboronkoto
Municipal Administrations - - - 136,642 136,642
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Australia:
Ravenswood(1) Australian Tax Office 5,103,793 - - - 5,103,793
-------------------------------- ------------ ----------- -------- --------------- ------------
Queensland Office of State Revenue 830,126 3,958,865 6,915 - 4,795,906
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Queensland Department of Environment
& Science - - 219,084 - 219,084
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Queensland Department of Natural Resources
& Mines - - 439,916 - 439,916
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Australia:
Corporate(1) Australian Tax Office (7,073,827) - - - (7,073,827)
-------------------------------- ------------ ----------- -------- --------------- ------------
Perth Office of State Revenue 615,912 - - - 615,912
------------------------------------------------- ------------ ----------- -------- --------------- ------------
Total 20,915,229 27,919,322 746,613 1,479,071 51,060,235
------------ ----------- -------- --------------- ------------
Notes:
(1) Resolute sold the Ravenswood Gold Mine to a consortium
comprising a fund managed by specialist resources private equity
manager EMR Capital Management Limited, and Singapore-listed mining
and energy company, Golden Energy and Resources Limited (SGX:AUE)
on 31 March 2020.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
PGRMZGMMRKKGMZG
(END) Dow Jones Newswires
January 15, 2021 03:19 ET (08:19 GMT)
Grafico Azioni Resolute Mining (LSE:RSG)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Resolute Mining (LSE:RSG)
Storico
Da Apr 2023 a Apr 2024
