TIDMPDL
RNS Number : 2355F
Petra Diamonds Limited
26 October 2018
26 October 2018 LSE: PDL
Petra Diamonds Limited
("Petra", "the Group" or "the Company")
FY 2018 Payments to Governments Report
Petra Diamonds Limited publishes the Company's Payments to
Governments Report for the year ended 30 June 2018 ("the Year" or
"FY 2018") (the "Report").
About this Report
This Report, which provides an overview of the payments to
governments made by Petra Diamonds Limited, its subsidiaries and
jointly controlled operations, is required under the United
Kingdom's ("UK") Report on Payments to Governments Regulations 2014
(as amended) ("the Regulations"), which apply to large, UK-listed
extractive companies. The Report aims to satisfy the Regulations as
well as the Disclosure and Transparency Rules of the Financial
Conduct Authority in the UK.
For the purposes of this Report, government will include any
national, regional or local authority of a country, and includes a
department, agency or entity that is a subsidiary of a government.
It excludes any payments to State Owned Enterprises to procure
goods or services from these enterprises typically consisting of
utilities such as water and electricity.
This report is also available on the Company's website at:
www.petradiamonds.com/investors/results-reports/.
Reporting threshold
This Report includes payments made which individually or
collectively exceed GBP 86,000 within a financial year, as per the
Regulations, however payments below this threshold may also be
included.
Types of payments
1. Corporate taxes
These are taxes paid by Petra on its income and profits in
accordance with legislation enacted in the applicable
jurisdictions, but exclude taxes levied on consumption (e.g. VAT,
personal income taxes and sales taxes). Payments are reported net
of refunds.
2. Mining and other license fees
These are mining licenses and regional levies paid by Petra in
accordance with legislation enacted in the applicable
jurisdictions.
3. Royalties
Royalties levied on the sale of rough diamonds. South African
royalties are calculated on a sliding scale based on profitability
and Tanzanian royalties are levied at a fixed rate. For more
information, visit
https://www.petradiamonds.com/about-us/who-we-are/where-we-operate/.
4. Infrastructure improvements
These include Community Social Investment and Local Economic
Development related expenditure on permanent infrastructure, which
is mandatory spend required of the Company as per its Social and
Labour Plans in South Africa.
5. Other
Payments towards custom & excise duties and property rates
& taxes.
There were no reportable payments to a government entity for
production entitlements or signature, discovery or production
bonuses during the Year.
Payments per government
Total payments to governments under the Regulations amounted to
US$25.6 million in FY 2018 (FY 2017: US$7.0 million).
Payments per country
Expense Type
(US$ thousand)(1,2)
Corporate Mining Royalties Infrastructure Other Total
taxes and other improvements
license
Country fees
-------------- ----------- ---------- --------------- ------ -------
South Africa
-------------- ----------- ---------- --------------- ------ -------
National 7,522 10,163
-------------- ----------- ---------- --------------- ------ -------
Local 902 1,005
-------------- ----------- ---------- --------------- ------ -------
Total 19,592
---------------------------------------------------------------- -------
Expense Type
(US$ thousand)(1,2)
Corporate Mining Royalties Infrastructure Other Total
taxes and other improvements
license
Country fees
---------- ------------------- ---------- ------------------------------------------- ------ ------
Tanzania
---------- ------------------- ---------- ------------------------------------------- ------ ------
Principal
Secretary
Ministry
of Energy 4,109
---------- ------------------- ---------- ------------------------------------------- ------ ------
Tanzania
Revenue Authority 336 685 260
---------- ------------------- ---------- ------------------------------------------- ------
Energy and
Water Utilities
Authority
& Rural Energy
Authority 149
---------- ------------------- ---------- ------------------------------------------- ------
Zonal Mine
Officer-Shinyanga 361
---------- ------------------- ---------- ------------------------------------------- ------
Local 190
---------- ------------------- ---------- ------------------------------------------- ------ ------
Total 6,090
------------------------------------------------------------------------------------------------ ------
Payments by mine
Expense Type
(US$ thousand)(1,2)
Corporate Mining Royalties Infrastructure Other Total
taxes and other and development
license for the benefit
Cullinan fees of mining communities
----------- ------------ ---------- ----------------------- ------ ------
South African
Revenue Service 828
---------- ----------------------- ------ ------
City of Tshwane
Municipality 23
---------- ----------------------- ------ ------
Local Schools 203
---------- ----------------------- ------ ------
Total 1,054
------------------------------------------- ------
Expense Type
(US$ thousand)(1,2)
Corporate Mining Royalties Infrastructure and Other Total
taxes and other development for
license the benefit of mining
Finsch fees communities
------------- ----------- ---------- ----------------------- ------ -------
South African
Revenue Service 7,522 9,124
------------- ----------- ---------- ----------------------- ------ -------
Kgatelopele
Local Municipality 507 346
------------- ----------- ---------- ----------------------- ------ -------
Local Schools 30
------------- ----------- ---------- ----------------------- ------ -------
Total 17,529
----------------------------------------------------------------------- -------
Expense Type
(US$ thousand)(1,2)
Corporate Mining Royalties Infrastructure Other Total
taxes and other and development
license for the benefit
Koffiefontein fees of mining communities
----------- ------------ ---------- ----------------------- ------ ------
South African
Revenue Service 137
---------- ----------------------- ------ ------
Letsemeng
Local Municipality 76 156
---------- ----------------------- ------ ------
Total 369
------------------------------------------- ------
Kimberley Expense Type
Ekapa Mining (US$ thousand)(1,2)
Joint Venture
Corporate Mining Royalties Infrastructure and Other Total
taxes and other development for
license the benefit of mining
fees communities
----------- ------------ ---------- ---------------------------------------------- ------ ------
South African
Revenue Service 74
---------- ---------------------------------------------- ------ ------
Sol Plaatjie
Local Municipality 86 453
---------- ---------------------------------------------- ------ ------
Total 613
------------------------------------------------------------------ ------
Williamson Expense Type
(US$ thousand)(1,2)
Corporate Mining Royalties Infrastructure and Other Total
taxes and other development for
license the benefit of mining
fees communities
---------- ------------------- ---------- ------------------------------------------ ------ ------
Principal
Secretary
Ministry of
Energy 4,109
---------- ------------------- ---------- ------------------------------------------ ------ ------
Tanzania Revenue
Authority 336 685 260
---------- ------------------- ---------- ------------------------------------------ ------ ------
Energy and
Water Utilities
Authority
& Rural Energy
Authority 149
---------- ------------------- ---------- ------------------------------------------ ------ ------
Zonal Mine
Officer-Shinyanga 361
---------- ------------------- ---------- ------------------------------------------ ------ ------
Local 190
---------- ------------------- ---------- ------------------------------------------ ------ ------
Total 6,090
----------------------------------------------------------------------------------------------- ------
Petra Diamonds Expense Type
Southern Africa (US$ thousand)(1,2)
(Pty) Ltd
Corporate Mining Royalties Infrastructure and Other Total
taxes and other development for
license the benefit of mining
fees communities
----------- ------------ ----------- ------------------------ ------ ------
City of Johannesburg 27
------ ------
Total 27
------ ------
1. Payments are shown in US$ equivalent amounts for the financial year ending 30 June 2018.
2. Certain financial data have been rounded. As a result of this
rounding, the totals of data presented in this document may vary
slightly from the actual arithmetical totals of such data.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Ends
For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Marianna Bowes investorrelations@petradiamonds.com
Salisha Ilyas
Buchanan Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse pdl@buchanan.uk.com
Olivia Montefiore-Vita
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and
a consistent supplier of gem quality rough diamonds to the
international market. The Company has a diversified portfolio
incorporating interests in three underground producing mines in
South Africa (Finsch, Cullinan and Koffiefontein) and one open pit
producing mine in Tanzania (Williamson). It announced in July 2018
the proposed disposal of its interest in the Kimberley Ekapa Mining
joint venture in South Africa. It also maintains an exploration
programme in Botswana and South Africa, which is currently under
review.
Petra's strategy is to focus on value rather than volume
production by optimizing recoveries from its high quality asset
base in order to maximize their efficiency and profitability. The
Group has a significant resource base of ca. 290 million carats,
which supports the potential for long-life operations.
Petra conducts all operations according to the highest ethical
standards and will only operate in countries which are members of
the Kimberley Process. The Company aims to generate tangible value
for each of its stakeholders, thereby contributing to the
socio-economic development of its host countries and supporting
long-term sustainable operations to the benefit of its employees,
partners and communities. Petra is quoted with a premium listing on
the Main Market of the London Stock Exchange under the ticker 'PDL'
and is a constituent of the FTSE4Good Index. For more information,
visit www.petradiamonds.com.
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.
END
PGRFKPDDPBDDCKB
(END) Dow Jones Newswires
October 26, 2018 02:00 ET (06:00 GMT)
Petra Diamonds (LSE:PDL)
Historical Stock Chart
From Apr 2024 to May 2024
Petra Diamonds (LSE:PDL)
Historical Stock Chart
From May 2023 to May 2024