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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Randgold Res. | LSE:RRS | London | Ordinary Share | GB00B01C3S32 | ORD $0.05 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 6,546.00 | 6,580.00 | 6,584.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMRRS
RNS Number : 0673T
Randgold Resources Ld
29 June 2018
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
REPORT ON PAYMENTS TO GOVERNMENTS FOR THE YEAR 2017
Jersey, Channel Islands, 29 June 2018 - Randgold Resources Limited today provides information in accordance with DTR 4.3A of the Disclosure and Transparency Rules of the United Kingdom's Financial Conduct Authority in respect of payments made to governments by Randgold Resources Limited and its subsidiary undertakings for the year ended 31 December 2017.
This report is prepared in accordance with United Kingdom's Reports on Payments to Governments Regulations 2014 (as amended) ("UK Regulations") and the basis of preparation is summarised below. The report is available for download from: http://www.randgoldresources.com/regulatory-releases.
Basis of Preparation - Report on Payments to Governments for the year ended 31 December 2017
Reporting entities
In line with UK Regulations, this report includes payments to governments made by Randgold Resources Limited and its subsidiary undertakings (together "Randgold"). Payments made by entities over which Randgold Resources Limited has joint control (including Société des Mines de Morila SA and Kibali Goldmines SA) are excluded from the report.
Activities
Payments made by Randgold to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals ("extractive activities") are disclosed within this report. As extractive and processing activities are unable to be reported separately, associated payments related to both activities have been disclosed in full.
Government
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 or entity that is controlled by such authority.
Project
Payments are reported at a project level except those payments which cannot be attributed to a specific project and therefore are reported at an entity level. Project is defined in the UK Regulations as being the operational activities which are governed by a single contract, license, lease, concession or similar legal agreement and form the basis for payment liabilities with a government. If such agreements are substantially interconnected, those agreements shall be treated for the purposes of the UK Regulations as a single project. Substantially interconnected means forming part of operationally and geographically integrated contracts, licenses, leases or concessions or related agreements with substantially similar terms which are signed with a government giving rise to payment liabilities. Indicators of integration include, but are not limited to, geographic proximity, the use of shared infrastructure and common operational management.
Payment Types
- Taxes
These are taxes paid by Randgold on its profits and income. In line with the UK Regulations payments made in relation to consumption, such as value added taxes, personal income taxes or sales taxes are excluded.
- Royalties
Royalty arrangements based on mineral production are in place at each operating mine. The royalty amounts paid to a government are calculated as a set percentage of the value of gold production at market gold prices less any deduction that may be taken.
- Dividends
These comprise : (i) dividends paid by Société des Mines de Gounkoto SA (Gounkoto) to the State of Mali based on the State of Mali's shareholding pursuant to the Establishment Convention under which Gounkoto operates, and (ii) dividends paid by Société des Mines de Tongon SA (Tongon) to the State of Côte d'Ivoire based on the State of Côte d'Ivoire's shareholding pursuant to the Establishment Convention under which Tongon operates.
- License fees, rental fees and other considerations for licenses or concessions
These are fees paid as consideration for acquiring a license for gaining access to an area or permitted area where extractive activities are to be performed.
- Infrastructure Improvements
These are payments which relate to the construction of infrastructure (including but not limited to roads, bridges and buildings) that is not primarily dedicated to extractive activities throughout its useful life. Payments which are in the nature of social investment, for example for the building of hospitals, schools or other social projects, are excluded from this report in line with the UK Regulations.
- Other Payments
Other types of payments which are required to be disclosed in accordance with the UK Regulations are the following:
1. Production entitlements; and 2. Signature, discovery and production bonuses.
However for the year ended 31 December 2017, there were no such reportable payments made by Randgold to a government.
Basis of Disclosure
Payments are reported on a cash flow basis and refunds are included within the year received.
Disclosure Threshold
Payments are disclosed in US Dollars. In line with the UK Regulations, where a payment or a series of related payments have not exceeded GBP86 000 (US $110 800)(1) such payments have, with the exception of certain license fees, not been included.
Exchange Rate
Payments made in currencies other than US Dollars are converted based on the foreign exchange rate at the relevant annual average rate.
(1) Amount exchanged at a rate of GBP GBP1:US $1.288.
Report on Payments to Governments 2017
Hot Features
Premium
Government Reports (all amounts in US$)
MALI Government Taxes Royalties Dividends License Infrastructure Total
Fees Improvements
-------- ---------- ---------- -------- --------------- ----------
Ministère de
l'Economie et des
Finances - Direction 125 179 28 041 153 221
des Grandes Enterprises 800 532 - - - 332
-------- ---------- ---------- -------- --------------- ----------
Ministère de
l'Economie et des
Finances - Bureau 5 233
des Domaines de Kenieba 796 - - - - 5 233 796
-------- ---------- ---------- -------- --------------- ----------
Ministère des
Domaines de l'Etat
et des Affaires Foncières
- Direction Nationale 28 062 13 980 42 104
Domains et Cadastre - 039 922 61 760 - 721
-------- ---------- ---------- -------- --------------- ----------
Infrastructure expenditure - - - - 491 548 491 548
-------- ---------- ---------- -------- --------------- ----------
130 413 56 103 13 980 201 051
596 571 922 61 760 491 548 397
-------- ---------- ---------- -------- --------------- ----------
CÔTE D'IVOIRE Taxes Royalties Dividends License Infrastructure Total
Government Fees Improvements
-------- ---------- ---------- -------- --------------- ----------
Ministère du
Budget et du Portefeuille
de l'Etat - Receveur 29 328 29 328
de Grandes Entreprises 546 - - - - 546
-------- ---------- ---------- -------- --------------- ----------
Ministère du
Budget et du Portefeuille
de l'Etat - Receveur 9 361
des Domaines d'Abidjan - 490 - - - 9 361 490
-------- ---------- ---------- -------- --------------- ----------
Ministère du
Budget et du Portefeuille
de l'Etat - Direction
Générale
des Participations 10 305 10 305
de l'Etat - - 905 - - 905
-------- ---------- ---------- -------- --------------- ----------
Ministère de
l'Industrie et des 1 652
Mines - 028 - 639 230 - 2 291 258
-------- ---------- ---------- -------- --------------- ----------
Infrastructure expenditure - - - - 318 623 318 623
-------- ---------- ---------- -------- --------------- ----------
29 328 11 013 10 305 51 605
546 518 905 639 230 318 623 822
-------- ---------- ---------- -------- --------------- ----------
159 742 67 117 24 286 252 657
Total 142 089 827 700 990 810 171 219
======== ========== ========== ======== =============== ==========
Project Reports (all amounts in US$)
MALI Projects Taxes Royalties Dividends License Infrastructure Total
Fees Improvements
-------- ---------- ---------- -------- --------------- --------
Loulo - Société
des Mines de Loulo 77 768 32 952 110 754
SA 981 814 - 32 285 - 080
-------- ---------- ---------- -------- --------------- --------
Gounkoto - Société
des Mines de Gounkoto 52 644 23 150 13 980 90 280
SA 615 757 922 12 281 491 548 123
-------- ---------- ---------- -------- --------------- --------
Exploration projects
- Randgold Resources
Mali SARL - - - 17 194 - 17 194
-------- ---------- ---------- -------- --------------- --------
130 413 56 103 13 980 201 051
596 571 922 61 760 491 548 397
-------- ---------- ---------- -------- --------------- --------
COTE D'IVOIRE Projects Taxes Royalties Dividends License Infrastructure Total
Fees Improvements
-------- ---------- ---------- -------- --------------- --------
Tongon - Société
des Mines de Tongon 29 328 11 013 10 305 50 966
SA 546 518 905 - 318 623 592
-------- ---------- ---------- -------- --------------- --------
Exploration projects
-Randgold Resources
(Côte d'Ivoire)
SARL - - - 639 230 - 639 230
-------- ---------- ---------- -------- --------------- --------
29 328 11 013 10 305 51 605
546 518 905 639 230 318 623 822
-------- ---------- ---------- -------- --------------- --------
159 742 67 117 24 286 252 657
Total 142 089 827 700 990 810 171 219
======== ========== ========== ======== =============== ========
RANDGOLD RESOURCES ENQUIRIES:
Chief Executive Financial Director Investor & Media Relations Mark Bristow Graham Shuttleworth Kathy du Plessis +44 788 071 1386 +44 1534 735 333 +44 20 7557 7738 +44 779 775 2288 +44 779 771 1338 Email: randgold@dpapr.com
Website: www.randgoldresources.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
PGRKKLBLVQFEBBZ
(END) Dow Jones Newswires
June 29, 2018 05:57 ET (09:57 GMT)
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