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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Petra Diamonds Limited | LSE:PDL | London | Ordinary Share | BMG702782084 | ORD GBP0.0005 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.30 | -0.71% | 41.70 | 40.60 | 41.70 | 41.60 | 41.00 | 41.60 | 75,424 | 16:35:16 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMPDL
RNS Number : 6942Z
Petra Diamonds Limited
19 December 2017
19 December 2017 LSE: PDL
Petra Diamonds Limited
("Petra", "the Group" or "the Company")
FY 2017 Payments to Governments Report
Petra Diamonds Limited publishes the Company's Payments to Governments Report for the year ended 30 June 2017 ("the Year" or "FY 2017") (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 includes 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$7.0 million in FY 2017 (FY 2016: US$8.9 million).
Payments per Country
Hot Features
Premium
Expense Type
(US$ thousand)(1,2)
-------------------------------------------------------------------------------------
Corporate Mining Royalties Infrastructure Other Total
taxes and other improvements
license
Country fees
-------------- ----------- ------------ ---------- --------------- ------ ------
South Africa
-------------- ----------- ------------ ---------- --------------- ------ ------
National 1,476
----------------------------------------- ---------- --------------- ------ ------
Local 723 730
----------------------------------------- ---------- --------------- ------ ------
Total 2,929
----------------------------------------- ----------------------------------- ------
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 2,917
-------------------- ---------- ----------- ---------- --------------- ------ ------
Tanzania
Revenue
Authority 237 444
-------------------- ---------- ----------- ---------- --------------- ------
Energy and
Water Utilities
Authority
& Rural
Energy Authority 152
-------------------- ---------- ----------- ---------- --------------- ------
Zonal Mine
Officer-Shinyanga 331
-------------------- ---------- ----------- ---------- --------------- ------ ------
Total 4,081
-------------------- ------------------------------------------------------------ ------
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
--------------- ----------- ------------ ----------- ----------------------- ------ ------
SARS 340
------------------------------------------ ----------- ----------------------- ------ ------
City of
Tshwane 14
------------------------------------------ ----------- ----------------------- ------ ------
Local Schools 263
------------------------------------------ ----------- ----------------------- ------ ------
Total 617
------------------------------------------ -------------------------------------------- ------
Expense Type
(US$ thousand)(1,2)
----------------------------------------------------------------------------------------------------
Corporate Mining Royalties Infrastructure Other Total
taxes and other and development
license for the benefit
Finsch fees of mining communities
--------------------- ----------- ------------ ---------- ----------------------- ------ ------
SARS 869
------------------------------------------------ ---------- ----------------------- ------ ------
Kgatelopele
Local Municipality 456 233
------------------------------------------------ ---------- ----------------------- ------ ------
Total 1,558
------------------------------------------------ ------------------------------------------- ------
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
--------------------- ----------- ------------ ---------- ----------------------- ------ ------
SARS 112
------------------------------------------------ ---------- ----------------------- ------ ------
Letsemeng
Local Municipality 4 74
------------------------------------------------ ---------- ----------------------- ------ ------
Total 190
------------------------------------------------ ------------------------------------------- ------
Kimberley Expense Type
Ekapa Mining (US$ thousand)(1,2)
Joint Venture
--------------------- ------------------------------------------------------------------------------
Corporate Mining Royalties Infrastructure Other Total
taxes and other and development
license for the benefit
fees of mining communities
--------------------- ----------- ------------ ---------- ----------------------- ------ ------
SARS 155
------------------------------------------------ ---------- ----------------------- ------ ------
Sol Plaatjie
Local Municipality 390
------------------------------------------------ ---------- ----------------------- ------ ------
Total 545
------------------------------------------------ ------------------------------------------- ------
Williamson Expense Type
(US$ thousand)(1,2)
-------------------- ----------------------------------------------------------------------------
Corporate Mining Royalties Infrastructure Other Total
taxes and other and development
license for the benefit
fees of mining communities
-------------------- ---------- ----------- ---------- ----------------------- ------ ------
Principal
Secretary
Ministry
of Energy 2,917
-------------------- ---------- ----------- ---------- ----------------------- ------ ------
Tanzania
Revenue
Authority 237 444
-------------------- ---------- ----------- ---------- ----------------------- ------ ------
Energy
and Water
Utilities
Authority
& Rural
Energy
Authority 152
-------------------- ---------- ----------- ---------- ----------------------- ------ ------
Zonal Mine
Officer-Shinyanga 331
-------------------- ---------- ----------- ---------- ----------------------- ------ ------
Total 4,081
-------------------- -------------------------------------------------------------------- ------
Petra Diamonds Expense Type
Southern (US$ thousand)(1,2)
Africa (Pty)
Ltd
---------------- --------------------------------------------------------------------------------
Corporate Mining Royalties Infrastructure Other Total
taxes and other and development
license for the benefit
fees of mining communities
---------------- ----------- ------------ ----------- ------------------------ ------ ------
City of
Johannesburg 19
---------------------------------------------------------------------------------- ------ ------
Total 19
---------------------------------------------------------------------------------- ------ ------
1. Payments are shown in US$ equivalent amounts for the financial year ending 30 June 2017.
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.
Ends
For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Cathy Malins cathy.malins@petradiamonds.com
Buchanan Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse bobbym@buchanan.uk.com Anna Michniewicz annam@buchanan.uk.com
Follow our corporate news feed on Twitter
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About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market. The Company has interests in five producing operations: three underground mines in South Africa (Finsch, Cullinan and Koffiefontein), the Kimberley Ekapa Mining joint venture (including the Kimberley Underground mine and extensive tailings retreatment operations) and one open pit mine in Tanzania (Williamson). It also maintains an exploration programme in Botswana and South Africa.
Petra has a core objective to steadily increase annual production to 5.0 - 5.3 million from FY 2019 onwards. The Group has a significant resource base in excess of 300 million carats.
Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. 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 company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
December 19, 2017 02:00 ET (07:00 GMT)
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