TIDMRSG
RNS Number : 5981U
Resolute Mining Limited
29 March 2023
Report on Payments to Governments
Year ended 31 December 2022
Resolute and its subsidiaries (together, "Resolute") are engaged
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
2022
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
https://www.rml.com.au/corporate-governance .
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.
Unless otherwise stated, all dollar figures are United States
dollars ($).
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
$105,000 (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 2022
GOVERNMENT REPORT
============================================================================================
Infrastructure
Dividend Taxes Royalties Fees Improvement Total
=========== ========== =========== ============== ======== =============== ===========
Countries
=========== ========== =========== ============== ======== =============== ===========
Australia - 2,677,316 - - - 2,677,316
Mali - 42,224,202 25,057,143(2) 140,643 1,618,808 69,040,796
Senegal 4,643,422 4,417,200 12,204,607 104,842 813,988 22,184,059
----------- ---------- ----------- -------------- -------- --------------- -----------
Total(1) 4,643,422 49,318,718 37,261,750 245,485 2,432,796 93,902,171
=========== ========== =========== ============== ======== =============== ===========
Notes:
(1) For the year ended 31 December 2022, Resolute did not make
any reportable production entitlement or bonus payments to any
government.
(2) During the year Resolute's subsidiary SOMISY, offset
royalties payable against VAT receivables of $19.5 million, the
balance of the royalties above was settled in cash.
Report on payments to Governments
Table 2
Government Payments split by project and payee for the period
ended 31 December 2022
GOVERNMENT REPORT
Country Payee Dividend Taxes Royalties Fees Infrastructure
/ Project Improvement Total
============ ================= ============ ============= ============= ========== =============== =============
Receiver General
Mali: - State of
Finkolo Mali - - 3,854,722 - - 3,854,722
============
Receiver General
- District - 275,020 - - - 275,020
Treasury -
Sikasso - 218,328 - 59,711 39,797 317,836
============================== ============ ============= ============= ========== =============== =============
Receiver General
- State of
Mali - - 21,202,421 - - 21,202,421
Receiver General
- District - 20,888,753 - - - 20,888,753
Treasury -
Mali - 20,842,101 - - - 20,842,101
Mali: Treasury -
Syama Sikasso - - - 80,932 1,579,011 1,659,943
============ ================= ============ ============= ============= ========== =============== =============
Receiver General
of Public
Treasury
(Ministry
of Finance) 4,643,422 4,417,200 12,204,607 - - 21,265,229
Mining and
Geology Department - - - 100,689 - 100,689
Kedougou
Departmental
and
Tomboronkoto
Senegal: Municipal
Mako Administrations - - - 4,153 813,988 818,141
============ ================= ============ ============= ============= ========== =============== =============
Australian
Tax Office - 2,677,316 - - - 2,677,316
Perth Office
Australia: of State
Corporate Revenue - 419,539 - - - 419,539
============ ================= ============ ============= ============= ========== =============== =============
Total 4,643,422 49,318,718 37,261,750 245,485 2,432,796 93,902,171
=============================== ============ ============= ============= ========== =============== =============
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