Business
Report on Payments to Governments
Report on Payments to Governments.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \nRNS Number : 6875C Hochschild Mining PLC 29 June 2016 \n\nIntroduction\nThis Report provides an overview of the payments to governments made by Hochschild Mining plc and its subsidiaries (hereinafter referred to as \"Hochschild\") in 2015 as required under the UK's Report on Payments to Governments Regulations 2014 (as amended) (the \"UK Regulations\"). The UK Regulations apply to large UK incorporated companies like Hochschild that are involved in the exploration, prospection, discovery, development and extraction of minerals. This Report is also intended to satisfy the requirements of the Disclosure and Transparency Rules of the Financial Conduct Authority in the United Kingdom.\nBasis for preparation \nLegislation: This Report is prepared in accordance with the UK Regulations.\nReporting entities: This Report includes payments to governments made by Hochschild Mining plc and its subsidiary undertakings (\"Hochschild\"). \nActivities: Payments made by Hochschild to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals (\"extractive activities\") are disclosed in this Report. For a fully integrated project, which does not have an interim contractual cut off point where a value can be attached or ascribed separately to the extractive activities and to other processing activities, payments to governments will not be artificially split but disclosed in full. \nGovernment: Government includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidia...