KAZ Minerals PLC Report on Payments to Govts (7483J)
June 30 2017 - 9:00AM
UK Regulatory
TIDMKAZ
RNS Number : 7483J
KAZ Minerals PLC
30 June 2017
Report on Payments to Governments for the year ended 31 December
2016
KAZ Minerals PLC ("KAZ Minerals" or "the Group") today provides
information in accordance with DTR4.3A and The Reports on Payments
to Governments Regulations 2014 (the "Regulations") in respect of
payments made by the Group for the year ended 31 December 2016.
Payments to Governments
The table below represents the Group's consolidated report on
payments made to governments under the Regulations. The table
includes all payments made in excess of GBP86,000 ($116,000) for
activities related to the exploration, prospecting, discovery,
development and extraction of minerals by project, government type
and country, rounded to the nearest thousand US Dollars.
For the year ended 31 December 2016, payments to governments
under the Regulations amounted to $169.7 million.
Mineral
Extraction
Corporate Tax Infrastructure
income and Withholding Signature Licence and social
US$'000 tax Royalties(1) tax bonus fee(2) payments(3) Total
KAZAKHSTAN
-------------------------- ---------- -------------- ------------ ---------- -------- --------------- --------
Artemyevsky
- License - 11,143 - 965 - - 12,108
Irtyshsky -
License - 6,677 - - 326 - 7,003
Orlovsky -
License - 27,368 - - - - 27,368
Yubileyno-Snegirihinsky
- License - 3,714 - - 132 - 3,846
Legal entity 29,824 - 351 - - 4,485 34,660
-------------------------- ---------- -------------- ------------ ---------- -------- --------------- --------
Total East
Region 29,824 48,902 351 965 458 4,485 84,985
Aktogay project
and legal entity 8,494 18,809 515 - 1,051 600 29,469
Bozshakol project
and legal entity - 46,359 208 - 148 2,153 48,868
Koksay project
and legal entity - - - - - - -
Other legal
entities 461 - - - - 195 656
38,779 114,070 1,074 965 1,657 7,433 163,978
-------------------------- ---------- -------------- ------------ ---------- -------- --------------- --------
RECIPIENT
State Revenue
Committee 38,779 114,070 1,074 965 1,657 - 156,545
Local government - - - - - 7,433 7,433
38,779 114,070 1,074 965 1,657 7,433 163,978
-------------------------- ---------- -------------- ------------ ---------- -------- --------------- --------
KYRGYZSTAN
Bozymchak licence
and legal entity - 3,533 544 - - 1,632 5,709
-------------------------- ---------- -------------- ------------ ---------- -------- --------------- --------
RECIPIENT
State Tax Administration
(central government) - 3,123 544 - - 1,322 4,989
Local government - 410 - - - 310 720
- 3,533 544 - - 1,632 5,709
-------------------------- ---------- -------------- ------------ ---------- -------- --------------- --------
Payments to
Governments 38,779 117,603 1,618 965 1,657 9,065 169,687
-------------------------- ---------- -------------- ------------ ---------- -------- --------------- --------
(1) The Mineral Extraction Tax is payable on the value of the
mineral resources extracted based on the average price of the
minerals on the London Metal Exchange or at the London Precious
Metal Exchange. Royalties are paid by the Bozymchak operation once
metal is sold with a portion thereof paid to local government.
(2) Payments made as required under subsoil use license.
(3) Infrastructure and social payments of $7.4 million made in
Kazakhstan represent payments made to bodies, associations, trusts
and other public interest groups located in the regions in which
the Group operates. These payments include the transfer of assets
at their book value, which the Group regards as infrastructure and
social payments, as these benefit local communities. The
infrastructure payments reflected as part of the Bozymchak
operation includes a statutory infrastructure development levy
which is based on a percentage of revenues. Part of this payment is
made to local government.
A copy of this report can be found on the Company's website at
http://www.kazminerals.com/en/investors_media/investor_library
This information is provided by RNS
The company news service from the London Stock Exchange
END
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