Fresnillo discloses $18.4m in payments to Mexico
TORONTO (miningweekly.com) – LSE- and Mexican Stock Exchange-listed silver miner Fresnillo has disclosed payments made to governments in 2015, as required under the UK Reports on Payments to Governments Regulation.
The London-based company said it had paid a net amount of $18.4-million to the Mexican government, where it operated six mines and owned four advanced exploration prospects.
The miner also disclosed a payment of $1.4-million to Peruvian authorities for licences and concession fees. It held exploration interests in the country.
Under UK transparency directives, oil, gas, mining and logging companies are required to publicly disclose the payments they make to governments to extract natural resources. The directives are modelled on Section 1504 of the US Dodd-Frank Act, which requires companies to disclose payments at the country and project level.
Fresnillo is the world's largest primary silver producer and Mexico's second-largest gold producer. The company expects to grow yearly output to 65-million ounces of silver and 750 000 oz of gold by 2018.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation