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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 42.00 | 40.50 | 41.40 | 42.00 | 42.00 | 42.00 | 20,027 | 08:39:58 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
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$7.0 million).
Payments per country
Hot Features
Premium
Expense Type
(US$ thousand)(1,2)
Corporate Mining Royalties Infrastructure Other Total
taxes and other improvements
license
Country fees
-------------- ----------- ---------- --------------- ------ -------
South Africa
-------------- ----------- ---------- --------------- ------ -------
National 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
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October 26, 2018 02:00 ET (06:00 GMT)
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