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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
(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 £86,000 they do not need to be disclosed. When preparing this
Report, a threshold of $105,000 (approx. £86,000) 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
Dividend Taxes Royalties Fees Infrastructure 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 / Project Payee Dividend Taxes Royalties Fees Infrastructure Improvement Total
Mali: Receiver General
- State of Mali
Finkolo - - 3,854,722 - - 3,854,722
Receiver General - 275,020 - - - 275,020
- District
- 218,328 - 59,711 39,797 317,836
Treasury - Sikasso
Mali: Receiver General
- State of Mali
Syama - - 21,202,421 - - 21,202,421
Receiver General - 20,888,753 - - - 20,888,753
- District
Treasury - Mali - 20,842,101 - - - 20,842,101
- - - 80,932 1,579,011 1,659,943
Treasury - Sikasso
Senegal: Receiver General
of Public Treasury
Mako
(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 Municipal Administrations
- - - 4,153 813,988 818,141
Australia: Australian -
Tax Office
Corporate 2,677,316 - - - 2,677,316
Perth Office - 419,539 - - - 419,539
of State Revenue
Total 4,643,422 49,318,718 37,261,750 245,485 2,432,796 93,902,171
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