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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 2019.
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 £86,000 ($110,000) for activities related to the exploration, prospection, discovery, development and extraction of minerals by project, government type and country, rounded to the nearest thousand US Dollars. Where the payment relates to activities that are reportable under the Regulations, as well as to activities which are not reportable, the payment has been included in its entirety if it is not possible to disaggregate it.
For the year ended 31 December 2019, payments to governments under the Regulations amounted to $325.8 million.
|
US$’000 |
Corporate income tax |
Mineral Extraction Tax and Royalties(1) |
Withholding tax |
Signature bonus |
Licence fee(2) |
Infrastructure and social payments(3) |
Total |
|---|---|---|---|---|---|---|---|
|
KAZAKHSTAN |
|||||||
|
Artemyevsky – License |
– |
14,116 |
– |
– | – |
– |
14,116 |
|
Irtyshsky – License |
– |
7,853 |
– |
– |
– | – |
7,853 |
|
Orlovsky – License |
– |
17,676 |
– | – |
– |
– |
17,676 |
|
Legal entity |
16,582 | – | – | – | – | 3,618 | 20,200 |
|
Total East Region |
16,582 |
39,645 |
– |
– | – | 3,618 |
59,845 |
|
Aktogay license and legal entity |
30,245 | 90,115 | 9,847 |
– |
1,011 |
11,887 |
143,105 |
|
Bozshakol license and legal entity |
20,376 |
71,029 |
12,551 |
– |
133 |
5,657 |
109,746 |
|
Koksay license and legal entity |
– |
– |
– |
– |
– |
– |
– |
|
Other legal entities |
1,252 |
– |
– |
– |
– |
– |
1,252 |
|
68,455 |
200,789 | 22,398 | – |
1,144 |
21,162 |
313,948 |
|
|
RECIPIENT |
|||||||
|
State Revenue Committee |
68,455 |
200,789 |
22,398 |
– | 133 | 3,608 |
295,383 |
|
Local government |
– |
– | – | – | 1,011 |
17,554 |
18,565 |
| 68,455 |
200,789 |
22,398 |
– |
1,144 |
21,162 |
313,948 |
|
|
KYRGYZSTAN |
|||||||
|
Bozymchak licence and legal entity |
– |
8,444 |
2,703 |
– |
– |
171 |
11,318 |
|
RECIPIENT |
|||||||
|
State Tax Administration (central government) |
– |
5,852 |
2,703 |
– | – |
– |
8,555 |
|
Local government |
– |
2,592 |
– |
– | – | 171 |
2,763 |
|
– |
8,444 |
2,703 |
– |
– |
171 |
11,318 | |
| RUSSIA | |||||||
| Baimskaya licence and legal entity | – | – | – | – | – | 548 | 548 |
| RECIPIENT | |||||||
| Federal Tax Service | – | – | – | – | – | – | – |
| Local government | – | – | – | – | – | 548 | 548 |
| – | – | – | – | – | 548 | 548 | |
|
UNITED KINGDOM |
|||||||
| Legal entity paid to HMRC | – | – | – | – | – | – | – |
|
Total Payments to Governments |
68,455 |
209,233 | 25,101 | – | 1,144 | 21,881 | 325,814 |
- The Mineral Extraction Tax is payable in Kazakhstan 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 Bullion Market Association. Royalties are paid by Bozymchak on sold metal. Mineral Extraction Tax includes taxes paid on water extraction.
- Payments made as required under subsoil use license.
- Infrastructure and social payments represent payments made to bodies, associations, trusts, state-owned enterprises 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 social payments because they benefit the local communities.