Nordgold Publishes 2017 Payments to Governments Report
London, United Kingdom, 29 June 2018 - Nord Gold SE ("Nordgold" or the "Company"), the internationally diversified gold producer, publishes its Report on Payments to Governments for 2017.
The Report has been prepared in accordance with the requirements of the Disclosure and Transparency Rules Instrument 2014, issued by the Financial Conduct Authority.
In the year ended 31 December 2017, Nordgold, which has operations in Russia, Burkina Faso, Guinea and Kazakhstan, made a total economic contribution (defined as capital investments, salaries, taxes, royalties, dividends and other community investments) of US$647.9 million. This was an increase of almost 9% on 2016 (2016: US$594.1 million). This includes US$111.1 million paid in taxes, dividends and payments for infrastructure improvements to the governments of countries in which Nordgold operates. This amount is calculated based on the accounting standards as set out in the Disclosure and Transparency Rules.
Nikolai Zelenski, Nordgold CEO, said:
“Nordgold remains an important employer and taxpayer in all of the countries in which we operate. We made good progress in 2017 in developing our portfolio, including the commissioning of the Bouly mine and starting construction at Gross, within terms and budget. This pace of progress will continue in 2018 - we is fully committed to developing the Montagne d’Or project, as well as undertaking a pre-feasibility study of the Uryakh project, our next development milestone. However, while our business is mining gold, we are always aware that we play an important role through the overall contributions that we make to the economies we operate in. We take this responsibility very seriously as we build long-term sustainable value for all our stakeholders, including our employees. We’ve created almost 9,000 jobs across our operations and this is set to increase further as new deposits and assets become a reality.”
Nordgold Economic Contributions
The full report can be found here: http://www.nordgold.com/investors-and-media/results-and-reports/annual-technical/
For further information, please contact:
| Andrei Naumov
Media Relations Specialist
|Tel: +7 495 644 4473|
| Peter Ogden
|Tel: +44 (0) 20 7250 1446|