JERSEY, CHANNEL ISLANDS–(Marketwired – Jun 30, 2016) – Randgold Resources (LSE: RRS) (NASDAQ: GOLD)
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 2015
Jersey, Channel Islands, 30 June 2016 – 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 2015.
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.
For information on all of the payments the Randgold Resources Limited group entities have made to governments (including payments by Société des Mines de Morila SA and Kibali Goldmines SA, which are excluded from this report), please refer to the company’s Sustainability Report as set out in its 2015 Annual Report and Accounts. The 2015 Sustainability Report is available for download from: http://www.randgoldresources.com/sustainability-report-2015.
Basis of Preparation – Report on Payments to Governments for the year ended 31 December 2015
Reporting entities
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. 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 dividends paid by Société des Mines de Gounkoto SA to the State of Mali based on the State of Mali’s shareholding pursuant to the Establishment Convention under which Société des Mines de Gounkoto SA 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 2015, 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.
Materiality
Payments are disclosed in US Dollars and, in line with the UK Regulations, where a payment or a series of related payments have not exceeded £86 000 (US $131 500)1 such payment or series of related payments have 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 £1:US $1.529.
Report on Payments to Governments 2015
| Government Reports (all amounts in US$) | ||||||||||||||||
| MALI Government | Production Entitlements |
Taxes | Royalties | Dividends | Signature, Discovery and Production Bonuses | License Fees | Infrastructure Improvements |
Total | ||||||||
| Ministère de l’Economie et des Finances – Direction des Grandes Enterprises | – | 55 698 763 | 21 422 034 | – | – | – | – | 77 120 797 | ||||||||
| Ministère de l’Economie et des Finances – Bureau des Domaines de Kenieba | – | 2 996 446 | – | – | – | – | – | 2 996 446 | ||||||||
| Ministère des Domaines de l’Etat et des Affaires Foncières – Direction Nationale Domains et Cadastre | – | – | 21 422 034 | 10 256 728 | – | 45 339 | – | 31 724 101 | ||||||||
| Infrastructure expenditure (a) | – | – | – | – | – | – | 328 163 | 328 163 | ||||||||
| – | 58 695 209 | 42 844 068 | 10 256 728 | – | 45 339 | 328 163 | 112 169 507 | |||||||||
| CÔTE D’IVOIRE Government | Production Entitlements |
Taxes | Royalties | Dividends | Signature, Discovery and Production Bonuses | License Fees | Infrastructure Improvements |
Total | ||||||||
| Ministère du Budget et du Portefeuille de l’Etat – Receveur de Grandes Entreprises | – | 579 868 | – | – | – | – | – | 579 868 | ||||||||
| Ministère du Budget et du Portefeuille de l’Etat – Receveur des Domaines d’Abidjan | – | – | 6 446 036 | – | – | – | – | 6 446 036 | ||||||||
| Ministère de l’Industrie et des Mines | – | – | 1 137 536 | – | – | 308 188 | – | 1 445 724 | ||||||||
| Infrastructure expenditure (a) | – | – | – | – | – | – | 172 000 | 172 000 | ||||||||
| – | 579 868 | 7 583 572 | – | – | 308 188 | 172 000 | 8 643 628 | |||||||||
| SENEGAL Government | Production Entitlements |
Taxes | Royalties | Dividends | Signature, Discovery and Production Bonuses | License Fees | Infrastructure Improvements |
Total | ||||||||
| Ministère de l’Industrie et des Mines – Direction des Mines et de la Geologie | – | – | – | – | – | 42 294 | – | 42 294 | ||||||||
| – | – | – | – | – | 42 294 | – | 42 294 | |||||||||
| Total | – | 59 275 076 | 50 427 640 | 10 256 728 | – | 395 821 | 500 163 | 120 855 429 | ||||||||
| (a) Infrastructure expenditure relates to infrastructural improvements in the areas surrounding the mines sites |
| Project Reports (all amounts in US$) | ||||||||||||||||
| MALI Projects | Production Entitlements |
Taxes | Royalties | Dividends | Signature, Discovery and Production Bonuses | License Fees | Infrastructure Improvements |
Total | ||||||||
| Société des Mines de Loulo SA | – | 12 395 231 | 24 620 902 | – | – | 29 781 | 161 163 | 37 207 078 | ||||||||
| Société des Mines de Gounkoto SA | – | 46 299 978 | 18 223 166 | 10 256 728 | – | 12 681 | 167 000 | 74 959 552 | ||||||||
| Randgold Resources Mali SARL | – | – | – | – | – | 2 877 | – | 2 877 | ||||||||
| – | 58 695 209 | 42 844 068 | 10 256 728 | – | 45 339 | 328 163 | 112 169 507 | |||||||||
| COTE D’IVOIRE Projects | Production Entitlements |
Taxes | Royalties | Dividends | Signature, Discovery and Production Bonuses | License Fees | Infrastructure Improvements |
Total | ||||||||
| Société des Mines de Tongon SA | – | 579 868 | 7 583 572 | – | – | 62 628 | 172 000 | 8 398 068 | ||||||||
| Randgold Resources (Côte d’Ivoire) SARL | – | – | – | – | – | 24 734 | – | 24 734 | ||||||||
| Boundiali exploration permit | – | – | – | – | – | 220 827 | – | 220 827 | ||||||||
| – | 579 868 | 7 583 572 | – | – | 308 188 | 172 000 | 8 643 628 | |||||||||
| SENEGAL Projects | Production Entitlements |
Taxes | Royalties | Dividends | Signature, Discovery and Production Bonuses | License Fees | Infrastructure Improvements |
Total | ||||||||
| Randgold Resources (Senegal) Limited | – | – | – | – | – | 42 294 | – | 42 294 | ||||||||
| – | – | – | – | – | 42 294 | – | 42 294 | |||||||||
| Total | – | 59 275 076 | 50 427 640 | 10 256 728 | – | 395 821 | 500 163 | 120 855 429 | ||||||||
RANDGOLD RESOURCES ENQUIRIES:
| Chief Executive Mark Bristow +44 788 071 1386 +44 779 775 2288 |
Financial Director Graham Shuttleworth +44 1534 735 333 +44 779 771 1338 |
Investor & Media Relations Kathy du Plessis +44 20 7557 7738 Email: [email protected] |
Website: www.randgoldresources.com
Contacts:
RNS
Customer
Services
0044-207797-4400
[email protected]
http://www.rns.com
