REG - ACG Metals Ltd. - Report on Payments to Governments 2024

ACG MetalsAnnouncement

31/07/2025 10:00

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RNS Number : 3864T  ACG Metals Limited  31 July 2025

31 July 2025

ACG METALS LIMITED

("ACG" or the "Company")

Report on Payments to Governments 2024

ACG Metals Limited (LSE:ACG) (the "Company") publishes the Company's Payments
to Governments Report for the year ended 31 December 2024 (the "Report").

Introduction

 

This Report has been prepared to comply with reporting obligations under rule
4.3A of the Disclosure Guidance and Transparency Rules and in accordance with
the United Kingdom Report on Payments to Governments Regulations 2014 (as
amended) (the "UK Regulations"). The Report is available on the Company's
website at https://acgmetals.com/ and has been filed with the UK Financial
Conduct Authority.

Basis of Preparation

 

Reporting Entities

This Report includes payments to governments made by the Company and its
subsidiary undertakings (together, the "Group").

 

Activities

Payments made by the Group to governments arising from activities involving
the exploration, prospection, discovery, development and extraction of
minerals ("extractive activities") are to be disclosed in this Report.

 

Government

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.

 

Project

Payments are reported at project level except that payments that are not
attributable to a specific project are reported at legal entity level. Project
is defined as being the operational activities which are governed by a single
contract, licence, lease, concession or similar legal agreement, and form the
basis for payment liabilities with a government.

 

If agreements of this kind are substantially interconnected (i.e. forming a
set of operationally and geographically integrated contracts, licenses, leases
or concessions) these are treated for the purposes of these UK Regulations as
a single project. Indicators of integration include geographic proximity and
common operational management.

 

Payments

The information is reported under the following payment types:

 

Taxes

These are any taxes paid by the Group on its income, profits or production in
accordance with legislation enacted in the applicable jurisdiction, but
exclude taxes levied on consumption (e.g. VAT, personal income taxes and sales
taxes). Payments are reported net of refunds.

 

Royalties

These are payments for the rights to extract mineral resources, typically at
set percentage of revenue less any deductions that may be taken.

 

Licence fees, rental fees, entry fees and other considerations for licences
and/or concessions ("Fees")

These are any fees and other sums paid as consideration for acquiring a
licence for gaining access to an area where extractive activities are
performed. Administrative government fees that are not specifically related to
the extractive sector, or to access to extractive resources, are excluded.
Also excluded are payments made in return for services provided by a
government.

 

There were no payments to government for dividends, bonuses, production
entitlements and infrastructure improvements.

 

Materiality level

In line with the UK Regulations, where a payment or a series of related
payments have not exceeded £86,000 they have not been disclosed.

 

Exchange Rate

Payments made in currencies other than US Dollars are translated for the
purposes of this Report using the exchange rate on the date of payment.

 

Payments per Government

 

 Beneficiary of payment  Country/Project        Nature of Payment
 (In USD'000)                                   Taxes paid                    Royalties paid                  Fees                            Total
 Turkish Government      Turkey/Gediktepe Mine              9,731                          4,561                           3,280                         17,572

 

A copy of the report referred to above has been sent to the National Storage
Mechanism and will shortly be available for viewing at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism)

- ENDS -

Inside information

 

The information contained within this announcement is considered by the
Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No.596/2014 (as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018). On the publication of this
announcement via a Regulatory Information Service, such information is now
considered to be in the public domain.

 

The person responsible for the release of this information on behalf of the
Company is Artem Volynets, Chairman & Chief Executive Officer.

 

Forward looking statements

 

This announcement may contain certain "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking statements").
Forward-looking statements are identified by their use of terms and phrases
such as "believe", "targets", "expects", "aim", "anticipate", "project",
"would", "could", "envisage", "estimate", "intend", "may", "plan", "will" or
the negative of those, variations or comparable expressions, including
references to assumptions. The forward-looking statements in this announcement
are based on current expectations and are subject to known and unknown risks
and uncertainties that could cause actual results, performance and
achievements to differ materially from any results, performance or
achievements expressed or implied by such forward-looking statements. Factors
that may cause actual results to differ materially from those expressed or
implied by such forward looking statements. These forward-looking statements
are based on numerous assumptions regarding the present and future business
strategies of the Group and the environment in which it is and will operate in
the future. All subsequent oral or written forward-looking statements
attributed to the Company or any persons acting on its behalf are expressly
qualified in their entirety by the cautionary statement above. Each
forward-looking statement speaks only as of the date of this announcement.
Except as required by applicable law, regulatory requirement, the UK Listing
Rules and the Disclosure Guidance and Transparency Rules, neither the Company
nor any other party intends to update or revise these forward-looking
statements, whether as a result of new information, future events or
otherwise.

 

 

For further information please contact:

 

Palatine

Communications Advisor

Conal Walsh / James Gilheany/ Kelsey Traynor/ Richard Seed

acg@palatine-media.com (mailto:acg@palatine-media.com)

 

Berenberg

Research Analysts

William Dalby +44 (0) 20 3753 3243

Richard Hatch +44 (0) 20 3753 3070

Cody Hayden +44 (0) 20 3753 3133

 

Joint Broker

Jennifer Lee / Natasha Ninkov

+44 (0) 20 3207 7800

 

Canaccord

Research Analysts

Tim Huff +44 (0) 20 7523 8374
 

Alex Bedwany +44 (0) 20 7523 8387

 

Joint Broker

James Asensio / Charlie Hammond

+ 44 (0) 20 7523 80

 

Stifel

Research Analysts

Andrew Breichmanas +44 (0) 20 3465 1110

 

Joint Broker

Ashton Clanfield / Varun Talwar

+44 (0) 20 7710 7600

 

About the Company

 

ACG Metals is a company with a vision to consolidate the copper industry
through a series of roll-up acquisitions, with best-in-class ESG and carbon
footprint characteristics.

 

In September 2024, ACG successfully completed the acquisition of the Gediktepe
Mine which is expected to transition to primary copper and zinc production
from 2026 and will target annual steady-state copper equivalent production of
20-25 kt. Gediktepe produced 55koz of AuEq in 2024.

 

ACG's team has extensive M&A experience built through decades spent at
blue-chip multinationals in the sector. The team brings a significant network
as well as a commitment to ESG principles and strong corporate governance.

 

For more information about ACG, please visit: www.acgmetals.com
(http://www.acgmetals.com)

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