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<pdf2xml> <page number="1" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="0" size="14" family="Times" color="#000000"/> <fontspec id="1" size="27" family="Times" color="#000000"/> <fontspec id="2" size="15" family="Times" color="#000000"/> <fontspec id="3" size="14" family="Times" color="#000000"/> <fontspec id="4" size="18" family="Times" color="#000000"/> <fontspec id="5" size="11" family="Times" color="#000000"/> <fontspec id="6" size="14" family="Helvetica" color="#1021cc"/> <fontspec id="7" size="18" family="Times" color="#000000"/> <text top="162" left="92" width="5" height="16" font="0"><b> </b></text> <text top="203" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="204" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="204" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="203" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="239" left="155" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="239" left="154" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="239" left="155" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="239" left="154" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="261" left="210" width="5" height="16" font="3"> </text> <text top="298" left="210" width="5" height="16" font="3"> </text> <text top="664" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="665" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="665" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="664" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="803" left="92" width="3" height="13" font="5"> </text> <text top="823" left="92" width="3" height="13" font="5"> </text> <text top="843" left="92" width="90" height="13" font="5">PREPARED BY:</text> <text top="843" left="182" width="4" height="15" font="6"> </text> <text top="845" left="187" width="3" height="12" font="5"> </text> <text top="863" left="92" width="131" height="13" font="5">BOAS &amp; ASSOCIATES </text> <text top="883" left="92" width="111" height="13" font="5">P.O. BOX AT 1367 </text> <text top="903" left="92" width="123" height="13" font="5">ACHIMOTA - ACCRA </text> <text top="923" left="92" width="52" height="13" font="5">GHANA. </text> <text top="943" left="92" width="168" height="13" font="5">MOBILE: +233 244 326838 </text> <text top="963" left="92" width="169" height="14" font="5">EMAIL: assoboas@yahoo.com</text> <text top="203" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="204" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="204" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="203" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="239" left="154" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="239" left="154" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="239" left="154" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="239" left="154" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="535" left="566" width="4" height="17" font="2"> </text> <text top="573" left="372" width="137" height="20" font="4">FINAL REPORT</text> <text top="574" left="372" width="137" height="20" font="4">FINAL REPORT</text> <text top="574" left="372" width="137" height="20" font="4">FINAL REPORT</text> <text top="573" left="372" width="143" height="21" font="4">FINAL REPORT<b> </b></text> <text top="619" left="407" width="68" height="20" font="4">ON THE</text> <text top="619" left="406" width="68" height="20" font="4">ON THE</text> <text top="619" left="407" width="68" height="20" font="4">ON THE</text> <text top="619" left="406" width="72" height="21" font="4">ON THE<b> </b></text> <text top="664" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="665" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="665" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="664" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="691" left="337" width="151" height="20" font="4">RECEIPTS: 2010</text> <text top="692" left="337" width="151" height="20" font="4">RECEIPTS: 2010</text> <text top="692" left="337" width="151" height="20" font="4">RECEIPTS: 2010</text> <text top="691" left="337" width="207" height="20" font="4">RECEIPTS: 2010----2011</text> <text top="692" left="495" width="49" height="20" font="4">2011</text> <text top="692" left="495" width="49" height="20" font="4">2011</text> <text top="691" left="495" width="54" height="20" font="4">2011 </text> <text top="718" left="440" width="4" height="17" font="2"> </text> <text top="760" left="354" width="113" height="20" font="4">((((FEBRUARY</text> <text top="760" left="363" width="104" height="20" font="4">FEBRUARY</text> <text top="760" left="364" width="104" height="20" font="4">FEBRUARY</text> <text top="760" left="363" width="164" height="20" font="4">FEBRUARY, 2013</text> <text top="760" left="467" width="59" height="20" font="4">, 2013</text> <text top="760" left="468" width="59" height="20" font="4">, 2013</text> <text top="760" left="467" width="64" height="21" font="4">, 2013<b> </b></text> <text top="203" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="204" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="204" left="117" width="647" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING</text> <text top="203" left="117" width="654" height="28" font="1">MINISTRY OF FINANCE AND ECONOMIC PLANNING </text> <text top="239" left="155" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="239" left="154" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="239" left="155" width="504" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE</text> <text top="239" left="154" width="573" height="17" font="2">(GHANA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE----GHEITI)</text> <text top="239" left="664" width="63" height="17" font="2">GHEITI)</text> <text top="239" left="664" width="63" height="17" font="2">GHEITI)</text> <text top="239" left="664" width="67" height="17" font="2">GHEITI) </text> <text top="335" left="788" width="216" height="16" font="3"> </text> <text top="664" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="665" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="665" left="120" width="641" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND</text> <text top="664" left="120" width="647" height="20" font="4">AGGREGATION/RECONCILIATION OF MINING SECTOR PAYMENTS AND </text> </page> <page number="2" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="8" size="14" family="Times" color="#3232ff"/> <text top="197" left="92" width="4" height="14" font="8"><i> </i></text> <text top="220" left="92" width="4" height="14" font="3"> </text> <text top="257" left="92" width="4" height="14" font="3"> </text> <text top="294" left="92" width="4" height="14" font="3"> </text> <text top="332" left="92" width="4" height="14" font="3"> </text> <text top="369" left="92" width="4" height="14" font="3"> </text> <text top="406" left="92" width="4" height="14" font="3"> </text> <text top="443" left="92" width="4" height="14" font="3"> </text> <text top="480" left="92" width="4" height="14" font="3"> </text> <text top="517" left="145" width="4" height="14" font="3"> </text> <text top="554" left="92" width="4" height="14" font="3"> </text> </page> <page number="3" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="9" size="18" family="Times" color="#3232ff"/> <fontspec id="10" size="14" family="Times" color="#3232ff"/> <fontspec id="11" size="14" family="Times" color="#3232ff"/> <fontspec id="12" size="12" family="Times" color="#3232ff"/> <text top="184" left="92" width="203" height="20" font="9">TABLE OF CONTENTS </text> <text top="211" left="92" width="696" height="16" font="10">LIST OF ABBREVIATIONS/ACRONYMS&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.&#8230;&#8230;&#8230;....i<b> </b></text> <text top="241" left="92" width="697" height="16" font="10">EXECUTIVE SUMMARY&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;ii </text> <text top="270" left="92" width="700" height="16" font="10">1.0 BACKGROUND ................................................................................................................ 1<b> </b></text> <text top="300" left="108" width="685" height="16" font="10">1.1 GHEITI and EITI reports: ............................................................................................. 1 </text> <text top="329" left="108" width="685" height="16" font="10">1.2 THE MINING INDUSTRY IN GHANA. .............................................................................. 1 </text> <text top="359" left="92" width="700" height="16" font="10">2.0 SCOPE OF WORK ............................................................................................................ 3<b> </b></text> <text top="388" left="108" width="685" height="16" font="10">2.1 Materiality ................................................................................................................... 3 </text> <text top="418" left="108" width="685" height="16" font="10">2.2 Reporting .................................................................................................................... 3 </text> <text top="448" left="108" width="685" height="16" font="10">2.3 BENEFIT STREAMS: ..................................................................................................... 3 </text> <text top="477" left="92" width="700" height="16" font="10">3.0: PARTICIPATING COMPANIES: . ....................................................................................... 8<b> </b></text> <text top="507" left="92" width="700" height="16" font="10">4.0 APPROACH AND METHODOLOGY: ...................................................................................10<b> </b></text> <text top="537" left="108" width="685" height="16" font="10">4.1 AGGREGATION/RECONCILIATION PHASE .....................................................................11 </text> <text top="566" left="92" width="677" height="16" font="10">5.0 RECONCILIATION&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.</text> <text top="567" left="769" width="8" height="14" font="12">1</text> <text top="566" left="777" width="13" height="16" font="10">3<b> </b></text> <text top="596" left="108" width="685" height="16" font="10">5.1 PRODUCTION/ROYALTY ANALYSIS/PRODUCTION COST. ...............................................13 </text> <text top="625" left="108" width="685" height="16" font="10">5.2 PRODUCTION/ ROYALTY ANALYSIS. ............................................................................16 </text> <text top="655" left="92" width="700" height="16" font="10">6.0 DISBURSEMENTS&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.&#8230;..18<b> </b></text> <text top="684" left="92" width="700" height="16" font="10">7.0: JANUARY - DECEMBER 2010 ..........................................................................................19<b> </b></text> <text top="714" left="108" width="685" height="16" font="10">7.1 Results of reconciliation: ..............................................................................................19 </text> <text top="744" left="108" width="685" height="16" font="10">7.2: DISCREPANCIES ........................................................................................................22 </text> <text top="773" left="108" width="685" height="16" font="10">7.3 DISBURSEMENT. ........................................................................................................23 </text> <text top="803" left="92" width="700" height="16" font="10">8.0: JANUARY -DECEMBER 2011. ..........................................................................................29<b> </b></text> <text top="833" left="108" width="685" height="16" font="10">8.1: RESULTS OF RECONCILIATION ..................................................................................29 </text> <text top="862" left="108" width="685" height="16" font="10">8.2 DISCREPANCIES .........................................................................................................32 </text> <text top="892" left="92" width="700" height="16" font="10">9.0 CHALLENGES IN IMPLEMENTATION ................................................................................38<b> </b></text> <text top="921" left="92" width="700" height="16" font="10">10.0 OBSERVATIONS AND SIGNIFICANT FINDINGS. ..............................................................39<b> </b></text> <text top="951" left="108" width="685" height="16" font="10">10.1Reporting Currency in Reconciliation Exercise: ..............................................................39 </text> <text top="980" left="124" width="669" height="16" font="10">10.1.1Recommendation: ................................................................................................39 </text> <text top="1010" left="92" width="701" height="16" font="10">11.0 CONCLUSION ...............................................................................................................44 </text> <text top="1040" left="92" width="4" height="14" font="3"> </text> </page> <page number="4" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="13" size="14" family="Times" color="#3232ff"/> <fontspec id="14" size="14" family="Times" color="#000000"/> <text top="163" left="92" width="4" height="14" font="3"> </text> <text top="200" left="92" width="110" height="16" font="11"><b>APPENDICES </b></text> <text top="236" left="92" width="5" height="16" font="11"><b> </b></text> <text top="273" left="92" width="242" height="16" font="10">Appendix 1: Terms Of Reference </text> <text top="273" left="355" width="5" height="16" font="10"> </text> <text top="273" left="407" width="5" height="16" font="10"> </text> <text top="273" left="460" width="5" height="16" font="10"> </text> <text top="273" left="513" width="5" height="16" font="10"> </text> <text top="273" left="565" width="5" height="16" font="10"> </text> <text top="273" left="618" width="5" height="16" font="10"> </text> <text top="273" left="670" width="5" height="16" font="10"> </text> <text top="273" left="723" width="23" height="16" font="10">48 </text> <text top="310" left="92" width="332" height="16" font="10">Appendix 2: Other Companies (OASL Returns) </text> <text top="310" left="460" width="5" height="16" font="10"> </text> <text top="310" left="513" width="5" height="16" font="10"> </text> <text top="310" left="565" width="5" height="16" font="10"> </text> <text top="310" left="618" width="5" height="16" font="10"> </text> <text top="310" left="670" width="5" height="16" font="10"> </text> <text top="310" left="723" width="23" height="16" font="10">50 </text> <text top="347" left="92" width="321" height="16" font="10">Appendix 3: Companies Reporting Template </text> <text top="347" left="460" width="5" height="16" font="10"> </text> <text top="347" left="513" width="5" height="16" font="10"> </text> <text top="347" left="565" width="5" height="16" font="10"> </text> <text top="347" left="618" width="5" height="16" font="10"> </text> <text top="347" left="670" width="5" height="16" font="10"> </text> <text top="347" left="723" width="23" height="16" font="10">53 </text> <text top="384" left="92" width="321" height="16" font="10">Appendix 3a(1): Ghana Manganese -2010 </text> <text top="384" left="460" width="5" height="16" font="10"> </text> <text top="384" left="513" width="5" height="16" font="10"> </text> <text top="384" left="565" width="5" height="16" font="10"> </text> <text top="384" left="618" width="5" height="16" font="10"> </text> <text top="384" left="670" width="5" height="16" font="10"> </text> <text top="384" left="723" width="23" height="16" font="10">59 </text> <text top="421" left="92" width="296" height="16" font="10">Appendix 3a(2): Ghana Manganese-2011 </text> <text top="421" left="407" width="5" height="16" font="10"> </text> <text top="421" left="460" width="5" height="16" font="10"> </text> <text top="421" left="513" width="5" height="16" font="10"> </text> <text top="421" left="565" width="5" height="16" font="10"> </text> <text top="421" left="618" width="5" height="16" font="10"> </text> <text top="421" left="670" width="5" height="16" font="10"> </text> <text top="421" left="723" width="23" height="16" font="10">60 </text> <text top="458" left="92" width="352" height="16" font="10">Appendix 3b(1): Anglogold Ashanti Obuasi-2010 </text> <text top="458" left="460" width="5" height="16" font="10"> </text> <text top="458" left="513" width="5" height="16" font="10"> </text> <text top="458" left="565" width="5" height="16" font="10"> </text> <text top="458" left="618" width="5" height="16" font="10"> </text> <text top="458" left="670" width="5" height="16" font="10"> </text> <text top="458" left="723" width="23" height="16" font="10">61 </text> <text top="495" left="92" width="352" height="16" font="10">Appendix 3b(2): Anglogold Ashanti Obuasi-2011 </text> <text top="495" left="460" width="5" height="16" font="10"> </text> <text top="495" left="513" width="5" height="16" font="10"> </text> <text top="495" left="565" width="5" height="16" font="10"> </text> <text top="495" left="618" width="5" height="16" font="10"> </text> <text top="495" left="670" width="5" height="16" font="10"> </text> <text top="495" left="723" width="23" height="16" font="10">62 </text> <text top="531" left="92" width="268" height="16" font="10">Appendix 4:Royalty/Production Data </text> <text top="531" left="407" width="5" height="16" font="10"> </text> <text top="531" left="460" width="5" height="16" font="10"> </text> <text top="531" left="513" width="5" height="16" font="10"> </text> <text top="531" left="565" width="5" height="16" font="10"> </text> <text top="531" left="618" width="5" height="16" font="10"> </text> <text top="531" left="670" width="5" height="16" font="10"> </text> <text top="531" left="723" width="23" height="16" font="10">63 </text> <text top="568" left="92" width="215" height="16" font="10">Appendix 5: Discrepancies </text> <text top="568" left="355" width="5" height="16" font="10"> </text> <text top="568" left="407" width="5" height="16" font="10"> </text> <text top="568" left="460" width="5" height="16" font="10"> </text> <text top="568" left="513" width="5" height="16" font="10"> </text> <text top="568" left="565" width="5" height="16" font="10"> </text> <text top="568" left="618" width="5" height="16" font="10"> </text> <text top="568" left="670" width="5" height="16" font="10"> </text> <text top="568" left="723" width="23" height="16" font="10">68 </text> <text top="605" left="92" width="215" height="16" font="10">Appendix 6: Disbursement </text> <text top="605" left="355" width="5" height="16" font="10"> </text> <text top="605" left="407" width="5" height="16" font="10"> </text> <text top="605" left="460" width="5" height="16" font="10"> </text> <text top="605" left="513" width="5" height="16" font="10"> </text> <text top="605" left="565" width="5" height="16" font="10"> </text> <text top="605" left="618" width="5" height="16" font="10"> </text> <text top="605" left="670" width="5" height="16" font="10"> </text> <text top="605" left="723" width="23" height="16" font="10">70 </text> <text top="642" left="92" width="297" height="16" font="10">Appendix 7: Minerals Development Fund </text> <text top="642" left="407" width="5" height="16" font="10"> </text> <text top="642" left="460" width="5" height="16" font="10"> </text> <text top="642" left="513" width="5" height="16" font="10"> </text> <text top="642" left="565" width="5" height="16" font="10"> </text> <text top="642" left="618" width="5" height="16" font="10"> </text> <text top="642" left="670" width="5" height="16" font="10"> </text> <text top="642" left="723" width="23" height="16" font="10">82 </text> <text top="679" left="92" width="426" height="16" font="10">Appendix 8a: Non-Tax Revenue (MoFEP) Dividends-2010 </text> <text top="679" left="565" width="5" height="16" font="10"> </text> <text top="679" left="618" width="5" height="16" font="10"> </text> <text top="679" left="670" width="5" height="16" font="10"> </text> <text top="679" left="723" width="23" height="16" font="10">89 </text> <text top="716" left="92" width="426" height="16" font="10">Appendix 8b : Non-Tax Revenu (MoFEP) Dividends -2011 </text> <text top="716" left="565" width="5" height="16" font="10"> </text> <text top="716" left="618" width="5" height="16" font="10"> </text> <text top="716" left="670" width="5" height="16" font="10"> </text> <text top="716" left="723" width="23" height="16" font="10">90 </text> <text top="753" left="92" width="434" height="16" font="10">Appendix 9a: GRA&#8211;Corporate Tax and Royalty Receipt 2010 </text> <text top="753" left="565" width="5" height="16" font="10"> </text> <text top="753" left="618" width="5" height="16" font="10"> </text> <text top="753" left="670" width="5" height="16" font="10"> </text> <text top="753" left="723" width="23" height="16" font="10">91 </text> <text top="790" left="92" width="434" height="16" font="10">Appendix 9b: GRA&#8211;Corporate Tax and Royalty Receipt 2011 </text> <text top="790" left="565" width="5" height="16" font="10"> </text> <text top="790" left="618" width="5" height="16" font="10"> </text> <text top="790" left="670" width="5" height="16" font="10"> </text> <text top="790" left="723" width="23" height="16" font="10">92 </text> <text top="827" left="92" width="4" height="15" font="13"><i><b> </b></i></text> <text top="864" left="92" width="4" height="15" font="14"><i><b> </b></i></text> </page> <page number="5" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="15" size="14" family="Times" color="#000000"/> <fontspec id="16" size="14" family="Times" color="#000000"/> <fontspec id="17" size="15" family="Times" color="#000000"/> <fontspec id="18" size="15" family="Times" color="#3232ff"/> <fontspec id="19" size="15" family="Times" color="#3232ff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="785" width="7" height="14" font="3">i </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="312" height="16" font="11"><b>LIST OF ABBREVIATIONS/ACRONYMS </b></text> <text top="199" left="92" width="4" height="14" font="3"> </text> <text top="236" left="92" width="31" height="17" font="18">DA </text> <text top="236" left="145" width="5" height="17" font="18"> </text> <text top="236" left="197" width="5" height="17" font="18"> </text> <text top="236" left="250" width="5" height="17" font="18"> </text> <text top="236" left="302" width="166" height="17" font="18"> District Assembly </text> <text top="273" left="92" width="5" height="17" font="18"> </text> <text top="309" left="92" width="35" height="17" font="18">EITI </text> <text top="309" left="145" width="5" height="17" font="18"> </text> <text top="309" left="197" width="5" height="17" font="18"> </text> <text top="309" left="250" width="5" height="17" font="18"> </text> <text top="309" left="302" width="357" height="17" font="18"> Extractive Industries Transparency Initiative </text> <text top="346" left="92" width="5" height="17" font="18"> </text> <text top="383" left="92" width="615" height="17" font="18">GHEITI Ghana Extractive Industries Transparency Initiative </text> <text top="420" left="92" width="5" height="17" font="18"> </text> <text top="457" left="92" width="433" height="17" font="18">GRA Ghana Revenue Authority </text> <text top="494" left="92" width="5" height="17" font="18"> </text> <text top="531" left="92" width="442" height="17" font="18">MDF Mineral Development Fund </text> <text top="568" left="92" width="5" height="17" font="18"> </text> <text top="604" left="92" width="541" height="17" font="18">MMDA Metropolitan, Municipal District Assembly </text> <text top="642" left="92" width="5" height="17" font="18"> </text> <text top="678" left="92" width="560" height="17" font="18">MoFEP Ministry of Finance and Economic Planning. </text> <text top="715" left="92" width="5" height="17" font="18"> </text> <text top="752" left="92" width="447" height="17" font="18">MUN/DIST ASMBL Municipal/District Assembly </text> <text top="789" left="92" width="5" height="17" font="18"> </text> <text top="826" left="92" width="421" height="17" font="18">NTRU Non - Tax Revenue Unit </text> <text top="863" left="92" width="5" height="17" font="18"> </text> <text top="900" left="92" width="552" height="17" font="18">OASL Office of the Administrator of Stool Lands. </text> <text top="937" left="92" width="5" height="17" font="19"><b> </b></text> <text top="974" left="92" width="4" height="14" font="8"><i> </i></text> </page> <page number="6" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="20" size="14" family="Symbol" color="#3232ff"/> <fontspec id="21" size="14" family="Helvetica" color="#3232ff"/> <fontspec id="22" size="15" family="Times" color="#4e81bd"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="781" width="11" height="14" font="3">ii </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="196" height="16" font="11"><b>EXECUTIVE SUMMARY: </b></text> <text top="199" left="92" width="695" height="16" font="3">Ghana signed on to the Extractive Industries Transparency Initiative (EITI) in 2003 and has since </text> <text top="222" left="92" width="389" height="16" font="3">been implementing the initiative in the mining sector. </text> <text top="258" left="92" width="663" height="16" font="3">The Extractive Industries Transparency Initiative (EITI) is an International Initiative between </text> <text top="281" left="92" width="701" height="16" font="3">governments, companies and civil society groups to promote transparency in the flow of revenues </text> <text top="303" left="92" width="695" height="16" font="3">from extractive companies to host country governments based on a set of criteria for transparent </text> <text top="325" left="92" width="383" height="16" font="3">reporting on the revenue streams and other benefits. </text> <text top="362" left="92" width="699" height="16" font="3">Under the EITI rules, the Ghana Extractive Industries Transparency Initiative (GHEITI) is required </text> <text top="385" left="92" width="661" height="16" font="3">to produce annual reconciliation reports that reconcile the payments by the extractive sector </text> <text top="407" left="92" width="374" height="16" font="3">companies to receipts by the government of Ghana. </text> <text top="444" left="92" width="701" height="16" font="3">Messrs&#8217; Boas and Associates was engaged by GHEITI to produce the 2010 and 2011 reconciliation </text> <text top="466" left="92" width="213" height="16" font="3">reports for the mining sector. </text> <text top="503" left="92" width="5" height="16" font="3"> </text> <text top="540" left="92" width="273" height="16" font="11"><b>APPROACH AND METHODOLOGY</b>: </text> <text top="577" left="92" width="562" height="16" font="3">The report was phased into two main areas: <b>Inception</b> and <b>Reconciliation. </b></text> <text top="613" left="92" width="131" height="17" font="19"><b>Inception Phase</b></text> <text top="613" left="223" width="6" height="16" font="10">:</text> <text top="613" left="229" width="565" height="16" font="3"> This is the preliminary information gathering stage. The Aggregator interacted </text> <text top="636" left="92" width="702" height="16" font="3">with Mining companies, Government Revenue Agencies and District Assemblies. An inception </text> <text top="658" left="92" width="250" height="16" font="3">report was issued after this phase. </text> <text top="694" left="92" width="176" height="17" font="19"><b>Reconciliation Phase</b>:</text> <text top="695" left="267" width="526" height="16" font="3"> This represented the main thrust of the assignment. Activities in this </text> <text top="717" left="92" width="213" height="16" font="3">phase included the following: </text> <text top="750" left="99" width="7" height="21" font="20">&#8226;</text> <text top="755" left="106" width="4" height="15" font="21"> </text> <text top="754" left="125" width="133" height="17" font="19"><b>Data Collection: </b></text> <text top="787" left="99" width="7" height="21" font="20">&#8226;</text> <text top="792" left="106" width="4" height="15" font="21"> </text> <text top="791" left="125" width="181" height="17" font="19"><b>Data reliability check:</b></text> <text top="791" left="306" width="10" height="17" font="22"><b> </b></text> <text top="791" left="315" width="476" height="16" font="3">Data collected from paticipating entities was scrutinised to ensure </text> <text top="830" left="125" width="553" height="16" font="3">that they fully meet the requirements set out for the completion of templates </text> <text top="880" left="99" width="7" height="21" font="20">&#8226;</text> <text top="884" left="106" width="4" height="15" font="21"> </text> <text top="883" left="125" width="82" height="17" font="19"><b>Analysis: </b> </text> <text top="920" left="125" width="617" height="16" font="0"><b>-</b>Ascertaining the correctness of computations and payments received by each of the </ text> <text top="943" left="125" width="406" height="16" font="3">agencies with respect to the revenue or benefit streams. </text> <text top="965" left="125" width="747" height="16" font="3">- Ascertaining the correctness of transfers of mineral royalty to District Assemblies and the </text> <text top="987" left="125" width="200" height="16" font="3">Mineral Development Fund. </text> <text top="1024" left="125" width="515" height="16" font="3">-Assessing the utilization of funds transferred to the District Assemblies. </text> <text top="1057" left="99" width="7" height="21" font="20">&#8226;</text> <text top="1062" left="106" width="4" height="15" font="21"> </text> <text top="1060" left="125" width="301" height="17" font="19"><b>Data Aggregation and Reconciliation:</b></text> <text top="1061" left="426" width="361" height="16" font="3"> Templates completed for Government and Mining </text> <text top="1083" left="125" width="310" height="16" font="3">Companies were compared and reconciled. </text> </page> <page number="7" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="23" size="14" family="Symbol" color="#000000"/> <fontspec id="24" size="14" family="Helvetica" color="#000000"/> <fontspec id="25" size="14" family="Times" color="#ffffff"/> <fontspec id="26" size="14" family="Times" color="#ffffff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="777" width="15" height="14" font="3">iii </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="159" left="92" width="7" height="21" font="20">&#8226;</text> <text top="163" left="99" width="4" height="15" font="21"> </text> <text top="162" left="118" width="185" height="17" font="19"><b>Participating Entities</b>: </text> <text top="182" left="118" width="5" height="16" font="0"><b> </b></text> <text top="201" left="92" width="315" height="16" font="11"><b>Ministries, Departments and Agencies</b>. </text> <text top="221" left="118" width="5" height="16" font="3"> </text> <text top="236" left="92" width="7" height="21" font="20">&#8226;</text> <text top="241" left="99" width="4" height="15" font="21"> </text> <text top="240" left="118" width="426" height="16" font="3">Ghana Revenue Authority (Domestic Tax Revenue Division) </text> <text top="256" left="92" width="7" height="21" font="23">&#8226;</text> <text top="260" left="99" width="4" height="15" font="24"> </text> <text top="260" left="118" width="324" height="16" font="3">Ghana Revenue Authority (Customs Division) </text> <text top="275" left="92" width="7" height="21" font="23">&#8226;</text> <text top="280" left="99" width="4" height="15" font="24"> </text> <text top="279" left="118" width="243" height="16" font="3">The Administrator of Stool Lands. </text> <text top="295" left="92" width="7" height="21" font="23">&#8226;</text> <text top="299" left="99" width="4" height="15" font="24"> </text> <text top="298" left="118" width="185" height="16" font="3">The Minerals Commission </text> <text top="314" left="92" width="7" height="21" font="23">&#8226;</text> <text top="319" left="99" width="4" height="15" font="24"> </text> <text top="318" left="118" width="675" height="16" font="3">The Municipal and District Assemblies within the area of operation of the mines covered under </text> <text top="337" left="118" width="118" height="16" font="3">the assignment. </text> <text top="353" left="92" width="7" height="21" font="23">&#8226;</text> <text top="358" left="99" width="4" height="15" font="24"> </text> <text top="357" left="118" width="327" height="16" font="3">The Ministry of Lands and Natural Resources. </text> <text top="372" left="92" width="7" height="21" font="23">&#8226;</text> <text top="377" left="99" width="4" height="15" font="24"> </text> <text top="376" left="118" width="511" height="16" font="3">Non Tax Revenue Agency (Ministry of Finance and Economic Planning). </text> <text top="392" left="92" width="7" height="21" font="23">&#8226;</text> <text top="396" left="99" width="4" height="15" font="24"> </text> <text top="396" left="118" width="142" height="16" font="3">District Assemblies. </text> <text top="415" left="92" width="5" height="16" font="0"><b> </b></text> <text top="434" left="92" width="275" height="17" font="19"><b>Table A: Participating companies. </b></text> <text top="772" left="92" width="14" height="16" font="0"><b> </b></text> <text top="796" left="92" width="5" height="16" font="0"><b> </b></text> <text top="820" left="105" width="4" height="15" font="21"> </text> <text top="819" left="118" width="212" height="16" font="11"><b>Benefit/Revenue streams </b></text> <text top="819" left="330" width="151" height="16" font="3">considered included<b>: </b></text> <text top="842" left="92" width="5" height="16" font="3"> </text> <text top="862" left="118" width="7" height="21" font="20">&#8226;</text> <text top="866" left="126" width="4" height="15" font="21"> </text> <text top="865" left="145" width="162" height="17" font="18">Mineral Right Licences<b> </b></text> <text top="891" left="118" width="7" height="21" font="20">&#8226;</text> <text top="895" left="126" width="4" height="15" font="21"> </text> <text top="894" left="145" width="95" height="17" font="18">Ground Rent </text> <text top="920" left="118" width="7" height="21" font="20">&#8226;</text> <text top="925" left="126" width="4" height="15" font="21"> </text> <text top="923" left="145" width="98" height="17" font="18">Property rate </text> <text top="949" left="118" width="7" height="21" font="20">&#8226;</text> <text top="954" left="126" width="4" height="15" font="21"> </text> <text top="952" left="145" width="114" height="17" font="18">Mineral Royalty </text> <text top="978" left="118" width="7" height="21" font="20">&#8226;</text> <text top="983" left="126" width="4" height="15" font="21"> </text> <text top="981" left="145" width="107" height="17" font="18">Corporate tax </text> <text top="1007" left="118" width="7" height="21" font="20">&#8226;</text> <text top="1012" left="126" width="4" height="15" font="21"> </text> <text top="1011" left="145" width="77" height="17" font="18">Dividend </text> <text top="463" left="87" width="128" height="16" font="25"><b>Mine/Company </b></text> <text top="463" left="305" width="73" height="16" font="25"><b>Location </b></text> <text top="463" left="581" width="119" height="16" font="25"><b>Mineral Mined </b></text> <text top="483" left="87" width="159" height="16" font="26">Anglogold Ashanti Ltd </text> <text top="483" left="305" width="169" height="16" font="3">Obuasi, Ashanti Region </text> <text top="483" left="581" width="37" height="16" font="3">Gold </text> <text top="503" left="87" width="132" height="16" font="26">Anglogold Ashanti </text> <text top="522" left="87" width="117" height="16" font="26">(Iduapriem) Ltd </text> <text top="503" left="305" width="200" height="16" font="3">Iduapriem, Western Region </text> <text top="503" left="581" width="37" height="16" font="3">Gold </text> <text top="543" left="87" width="166" height="16" font="26">Adamus Resources Ltd </text> <text top="543" left="305" width="178" height="16" font="3">Nkroful, Western Region </text> <text top="543" left="581" width="37" height="16" font="3">Gold </text> <text top="563" left="87" width="115" height="16" font="26">GSR(Wassa)Ltd </text> <text top="563" left="305" width="201" height="16" font="3">Akyempim, Western Region </text> <text top="563" left="581" width="37" height="16" font="3">Gold </text> <text top="583" left="87" width="180" height="16" font="26">GSR(Prestea/Bogosu)Ltd </text> <text top="583" left="305" width="238" height="16" font="3">Prestea/Bogosu, Western Region </text> <text top="583" left="581" width="37" height="16" font="3">Gold </text> <text top="603" left="87" width="160" height="16" font="26">Gold Fields Ghana Ltd </text> <text top="603" left="305" width="179" height="16" font="3">Tarkwa, Western Region </text> <text top="603" left="581" width="37" height="16" font="3">Gold </text> <text top="623" left="87" width="157" height="16" font="26">Abosso Goldfields Ltd </text> <text top="623" left="305" width="181" height="16" font="3">Damang,Western Region </text> <text top="623" left="581" width="37" height="16" font="3">Gold </text> <text top="643" left="87" width="169" height="16" font="26">Chirano Gold Mines Ltd </text> <text top="643" left="305" width="181" height="16" font="3">Chirano, Western Region </text> <text top="643" left="581" width="37" height="16" font="3">Gold </text> <text top="672" left="87" width="188" height="16" font="26">Newmont Ghana Gold Ltd </text> <text top="672" left="305" width="156" height="16" font="3">Kenyase,Brong Ahafo </text> <text top="672" left="581" width="37" height="16" font="3">Gold </text> <text top="704" left="87" width="179" height="16" font="26">Ghana Bauxite Company </text> <text top="704" left="305" width="173" height="16" font="3">Awaso, Western Region </text> <text top="704" left="581" width="57" height="16" font="3">Bauxite </text> <text top="740" left="87" width="163" height="16" font="26">Ghana Manganese Ltd </text> <text top="740" left="305" width="158" height="16" font="26">Nsuta,Western Region</text> <text top="740" left="463" width="5" height="16" font="3"> </text> <text top="740" left="581" width="85" height="16" font="26">Manganese </text> </page> <page number="8" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="27" size="13" family="Times" color="#3232ff"/> <fontspec id="28" size="15" family="Helvetica" color="#3232ff"/> <fontspec id="29" size="16" family="Times" color="#3232ff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="778" width="14" height="14" font="3">iv </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="163" left="92" width="4" height="14" font="3"> </text> <text top="200" left="92" width="281" height="16" font="11"><b>RESULTS OF RECONCILIATION</b>: </text> <text top="222" left="92" width="599" height="15" font="27"><b>Table B: Company reported payments/Government reported receipts-2010/2011 </b></text> <text top="245" left="92" width="175" height="16" font="26">BENEFIT STREAM/YEAR </text> <text top="245" left="306" width="215" height="16" font="26">Company Reported Payments </text> <text top="245" left="552" width="226" height="16" font="26">Government Reported Receipts </text> <text top="282" left="92" width="5" height="16" font="3"> </text> <text top="282" left="306" width="40" height="16" font="3">2010 </text> <text top="282" left="424" width="40" height="16" font="3">2011 </text> <text top="282" left="552" width="40" height="16" font="3">2010 </text> <text top="282" left="675" width="40" height="16" font="3">2011 </text> <text top="307" left="92" width="156" height="16" font="3">Mineral Right Licence </text> <text top="307" left="306" width="11" height="16" font="3">- </text> <text top="307" left="424" width="11" height="16" font="3">- </text> <text top="307" left="552" width="11" height="16" font="3">- </text> <text top="307" left="675" width="11" height="16" font="3">- </text> <text top="331" left="92" width="95" height="16" font="3">Ground Rent </text> <text top="331" left="306" width="11" height="16" font="3">- </text> <text top="331" left="424" width="68" height="16" font="3">134,290 </text> <text top="331" left="552" width="11" height="16" font="3">- </text> <text top="331" left="675" width="11" height="16" font="3">- </text> <text top="354" left="92" width="102" height="16" font="3">Property Rate </text> <text top="354" left="306" width="96" height="16" font="3"> </text> <text top="374" left="306" width="68" height="16" font="3">608,311 </text> <text top="355" left="424" width="80" height="16" font="0"><b> </b></text> <text top="374" left="424" width="68" height="16" font="3">674,523 </text> <text top="354" left="552" width="111" height="16" font="3"> </text> <text top="374" left="552" width="73" height="16" font="3"> 830,051 </text> <text top="354" left="675" width="90" height="16" font="3"> </text> <text top="374" left="675" width="68" height="16" font="3">482,092 </text> <text top="393" left="675" width="5" height="16" font="3"> </text> <text top="417" left="92" width="114" height="16" font="26">Mineral Royalty </text> <text top="417" left="312" width="94" height="16" font="26">147,848,789 </text> <text top="417" left="424" width="94" height="16" font="26">211,708,024 </text> <text top="437" left="480" width="5" height="16" font="26"> </text> <text top="417" left="561" width="94" height="16" font="26">150,453,905 </text> <text top="417" left="729" width="30" height="16" font="26"> </text> <text top="437" left="684" width="99" height="16" font="26">218,151,362 </text> <text top="456" left="729" width="5" height="16" font="26"> </text> <text top="480" left="92" width="106" height="16" font="3">Corporate Tax </text> <text top="480" left="306" width="91" height="16" font="3"> </text> <text top="499" left="306" width="99" height="16" font="3">118,821,551 </text> <text top="480" left="424" width="55" height="16" font="3"> </text> <text top="499" left="424" width="99" height="16" font="3">425,833,002 </text> <text top="519" left="424" width="5" height="16" font="3"> </text> <text top="480" left="552" width="45" height="16" font="3"> </text> <text top="499" left="552" width="104" height="16" font="3"> 125,249,733 </text> <text top="519" left="552" width="5" height="16" font="3"> </text> <text top="480" left="675" width="61" height="16" font="3"> </text> <text top="499" left="675" width="99" height="16" font="3">499,825,765 </text> <text top="519" left="675" width="5" height="16" font="3"> </text> <text top="543" left="92" width="71" height="16" font="3">Dividend </text> <text top="543" left="306" width="86" height="16" font="3"> </text> <text top="562" left="306" width="81" height="16" font="3">3,746,830 </text> <text top="543" left="424" width="121" height="16" font="3"> </text> <text top="562" left="424" width="90" height="16" font="3">55,291,126 </text> <text top="543" left="552" width="28" height="16" font="0"><b> </b></text> <text top="562" left="552" width="90" height="16" font="3">22,440,212 </text> <text top="582" left="552" width="5" height="16" font="3"> </text> <text top="543" left="675" width="91" height="16" font="3"> </text> <text top="562" left="675" width="90" height="16" font="3">44,012,872 </text> <text top="582" left="675" width="5" height="16" font="3"> </text> <text top="606" left="92" width="41" height="16" font="26">Total </text> <text top="606" left="306" width="38" height="16" font="25"><b> </b></text> <text top="625" left="306" width="111" height="16" font="25"><b>271,025,481 </b></text> <text top="606" left="424" width="52" height="16" font="25"><b> </b></text> <text top="625" left="424" width="111" height="16" font="25"><b>693,640,965 </b></text> <text top="644" left="424" width="5" height="16" font="26"> </text> <text top="606" left="552" width="33" height="16" font="25"><b> </b></text> <text top="625" left="552" width="107" height="16" font="25"><b>298,973,901 </b></text> <text top="644" left="552" width="5" height="16" font="26"> </text> <text top="606" left="675" width="38" height="16" font="25"><b> </b></text> <text top="625" left="675" width="111" height="16" font="25"><b>762,472,091 </b></text> <text top="644" left="675" width="5" height="16" font="26"> </text> <text top="667" left="92" width="530" height="15" font="27"><b>Source: Companies and Government Agencies templates/submissions </b></text> <text top="690" left="92" width="5" height="16" font="0"><b> </b></text> <text top="714" left="105" width="4" height="15" font="21"> </text> <text top="712" left="118" width="117" height="17" font="18">Discrepancies: </text> <text top="732" left="125" width="5" height="16" font="3"> </text> <text top="766" left="125" width="669" height="16" font="3">The reconciliation report for 2010 and 2011 produced some discrepancies that should be </text> <text top="786" left="125" width="669" height="16" font="3">investigated further. Absolute discrepancies for 2010 and 2011 were GHS 47,460,012 and </text> <text top="805" left="125" width="669" height="16" font="3">GHS 202,828,263 respectively. Unresolved discrepancies amounted to<b> GHS -5,080,964 </b>and </text> <text top="824" left="125" width="373" height="16" font="0"><b>GHS 9,113,673 </b>in 2010 and 2011 respectively. </text> <text top="860" left="106" width="5" height="16" font="28"> </text> <text top="858" left="118" width="472" height="18" font="29">Highlight: Corporate tax receipts exceeded royalty in 2011. </text> <text top="884" left="92" width="25" height="16" font="3"> </text> <text top="907" left="92" width="715" height="16" font="3"> This is very significant as it may mark the end of the initial investment recovery periods for </text> <text top="930" left="92" width="156" height="16" font="3"> major producers<b> </b></text> <text top="954" left="118" width="5" height="16" font="11"><b> </b></text> <text top="993" left="106" width="5" height="16" font="28"> </text> <text top="991" left="118" width="294" height="18" font="29">Some significant Findings included: </text> <text top="1017" left="125" width="532" height="16" font="0"><b>-</b>Payment of royalty using hedged sales figures in the payment of royalty. </text> <text top="1040" left="125" width="425" height="16" font="3">-The inconsistent frequency in payment of mineral royalty </text> </page> <page number="9" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="781" width="11" height="14" font="3">v </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="164" left="125" width="393" height="16" font="3">-The unwillingness of companies to provide information</text> <text top="163" left="518" width="233" height="17" font="2"> beyond payments made to </text> <text top="188" left="125" width="68" height="17" font="2">governm</text> <text top="189" left="193" width="8" height="16" font="3">e</text> <text top="188" left="201" width="10" height="17" font="2">n</text> <text top="189" left="211" width="15" height="16" font="3">t. </text> <text top="213" left="125" width="455" height="16" font="3">-Payment of disbursed funds to district Assemblies in tranches. </text> <text top="236" left="92" width="5" height="16" font="11"><b> </b></text> <text top="277" left="105" width="4" height="15" font="21"> </text> <text top="274" left="118" width="134" height="18" font="29">Recommendation</text> <text top="275" left="253" width="5" height="17" font="2"> </text> <text top="300" left="92" width="689" height="16" font="3">The relevant Agencies including the GRA and the OASL as well as the Steering Committee of the </text> <text top="322" left="92" width="521" height="16" font="3">Ghana EITI have been advised to address the findings and discrepancies.</text> </page> <page number="10" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="30" size="14" family="Helvetica" color="#3232ff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="780" width="12" height="14" font="3">1 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="151" height="16" font="25"><b>1.0 BACKGROUND </b></text> <text top="199" left="92" width="695" height="16" font="3">Ghana signed on to the Extractive Industries Transparency Initiative (EITI) in 2003 and has since </text> <text top="222" left="92" width="389" height="16" font="3">been implementing the initiative in the mining sector. </text> <text top="258" left="92" width="663" height="16" font="3">The Extractive Industries Transparency Initiative (EITI) is an International Initiative between </text> <text top="281" left="92" width="701" height="16" font="3">governments, companies and civil society groups to promote transparency in the flow of revenues </text> <text top="303" left="92" width="695" height="16" font="3">from extractive companies to host country governments based on a set of criteria for transparent </text> <text top="325" left="92" width="383" height="16" font="3">reporting on the revenue streams and other benefits. </text> <text top="362" left="92" width="678" height="16" font="3">The purpose of the initiative is to encourage greater transparency in the extractive sector. This </text> <text top="385" left="92" width="669" height="16" font="3">would enable citizens to make informed demands for the fair and sustainable use of revenues </text> <text top="407" left="92" width="403" height="16" font="3">generated through the exploitation of natural resources. </text> <text top="444" left="92" width="691" height="16" font="3">Under the EITI rules, Ghana Extractive Industries Transparency Initiative (GHEITI) is required to </text> <text top="466" left="92" width="641" height="16" font="3">produce annual reconciliation reports that reconcile the payments by the extractive sector </text> <text top="488" left="92" width="374" height="16" font="3">companies to receipts by the government of Ghana. </text> <text top="525" left="92" width="668" height="16" font="3">Messrs&#8217; Boas and Associates have been engaged to produce the 2010 and 2011 reconciliation </text> <text top="547" left="92" width="213" height="16" font="3">reports for the mining sector. </text> <text top="584" left="92" width="702" height="16" font="3">The assignment involves the collection, analysis and aggregation of payments made by mining </text> <text top="604" left="92" width="701" height="16" font="3">companies to the Government of Ghana and to ascertain the disbursements made by the </text> <text top="623" left="92" width="702" height="16" font="3">Government to the relevant mining communities and its utilization. This report is prepared for the </text> <text top="643" left="92" width="620" height="16" font="3">use of the Steering Committee of the EITI, and is not intended for any other purpose. </text> <text top="662" left="92" width="5" height="16" font="0"><b> </b></text> <text top="702" left="92" width="243" height="16" font="11"><b>1.1 GHEITI and EITI reports: </b></text> <text top="725" left="92" width="5" height="16" font="3"> </text> <text top="762" left="92" width="418" height="16" font="3">GHEITI has issued reconciliation reports for 2004 to 2009. </text> <text top="802" left="92" width="4" height="15" font="30"><b> </b></text> <text top="838" left="92" width="332" height="16" font="11"><b>1.2 THE MINING INDUSTRY IN GHANA. </b></text> <text top="862" left="92" width="5" height="16" font="3"> </text> <text top="899" left="92" width="569" height="16" font="3">The Mining industry in Ghana makes a significant contribution to the economy. </text> <text top="936" left="92" width="702" height="16" font="3">Under the Minerals and Mining Act, 2006, Act 703, every mineral in its natural state in, under or </text> <text top="958" left="92" width="701" height="16" font="3">upon any land in Ghana, rivers, streams, water courses throughout the country, the exclusive </text> <text top="980" left="92" width="701" height="16" font="3">economic zone and any area covered by territorial sea or continental shelf is the property of the </text> <text top="1003" left="92" width="588" height="16" font="3">Republic of Ghana and is vested in the President in trust for the people of Ghana. </text> <text top="1039" left="92" width="702" height="16" font="3">Gold mining remains the highest contributor in the sector, with large scale gold mining accounting </text> <text top="1062" left="92" width="701" height="16" font="3">for over 80% by value of the total income from the sector. The other important minerals are, </text> <text top="1084" left="92" width="250" height="16" font="3">diamond, bauxite and manganese. </text> </page> <page number="11" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="780" width="12" height="14" font="3">2 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="435" height="16" font="3">In 2009, the GRA received over GHS 96m as mineral royalty.<b> </b></text> <text top="202" left="92" width="257" height="16" font="11"><b>1.3 BRIEF ON EITI IN GHANA. </b></text> <text top="226" left="92" width="5" height="16" font="3"> </text> <text top="263" left="92" width="702" height="16" font="3">The EITI Steering Committee is the governing body of the EITI in Ghana. Various stakeholders in </text> <text top="285" left="92" width="416" height="16" font="3">the Extractive industry are represented on the committee. </text> <text top="322" left="92" width="701" height="16" font="3">The members of the committee comprise of representatives from the under listed agencies or </text> <text top="344" left="92" width="57" height="16" font="3">bodies: </text> <text top="381" left="92" width="307" height="16" font="3">Ministry of Finance and Economic Planning </text> <text top="418" left="92" width="283" height="16" font="3">Ministry of Land and Natural Resources </text> <text top="455" left="92" width="153" height="16" font="3">Minerals Commission </text> <text top="492" left="92" width="261" height="16" font="3">Ghana National Petroleum Company </text> <text top="529" left="92" width="451" height="16" font="3">Ghana Chamber of Mines (representing the mining companies) </text> <text top="566" left="92" width="298" height="16" font="3">Office of the Administrator of Stool Lands </text> <text top="603" left="92" width="183" height="16" font="3">Internal Revenue Service </text> <text top="639" left="92" width="312" height="16" font="3">Civil Society Organizations (led by ISODEC) </text> <text top="676" left="92" width="133" height="16" font="3">Ministry of Energy </text> <text top="713" left="92" width="702" height="16" font="3">The EITI also has an implementation Secretariat at the Ministry of Finance and Economic </text> <text top="736" left="92" width="70" height="16" font="3">Planning. </text> <text top="772" left="92" width="5" height="16" font="3"> </text> <text top="809" left="92" width="5" height="16" font="0"><b> </b></text> <text top="846" left="92" width="5" height="16" font="0"><b> </b></text> <text top="883" left="92" width="5" height="16" font="0"><b> </b></text> <text top="920" left="92" width="5" height="16" font="0"><b> </b></text> <text top="957" left="92" width="5" height="16" font="0"><b> </b></text> <text top="994" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1031" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1068" left="92" width="5" height="16" font="0"><b> </b></text> </page> <page number="12" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="31" size="15" family="Times" color="#ffffff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="780" width="12" height="14" font="3">3 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="5" height="16" font="0"><b> </b></text> <text top="200" left="92" width="187" height="17" font="31"><b>2.0 SCOPE OF WORK </b></text> <text top="241" left="92" width="148" height="16" font="11"><b>2.1 MATERIALITY </b></text> <text top="265" left="92" width="5" height="16" font="3"> </text> <text top="302" left="92" width="702" height="16" font="3">The companies that participated in the reconciliation process have been chosen based on the </text> <text top="324" left="92" width="702" height="16" font="3">payment of royalty. All companies engaged in mineral production, which together contributed up </text> <text top="346" left="92" width="702" height="16" font="3">to 99% of royalty payment for the years under consideration (i.e. 2010 and 2011) participated in </text> <text top="368" left="92" width="349" height="16" font="3">the reconciliation exercise.(See Appendix 2A-2K) </text> <text top="409" left="92" width="133" height="16" font="11"><b>2.2 REPORTING </b></text> <text top="432" left="92" width="5" height="16" font="0"><b> </b></text> <text top="468" left="92" width="259" height="17" font="18">2.2 .1 Basis of Reporting/ Currency: </text> <text top="506" left="92" width="5" height="16" font="3"> </text> <text top="525" left="92" width="702" height="16" font="3">The basis of reporting is cash or actual. Thus only payments/revenues actually made and </text> <text top="545" left="92" width="702" height="16" font="3">received in the period under consideration shall be reconciled. The reporting currency is the local </text> <text top="564" left="92" width="187" height="16" font="3">currency i.e. Ghana cedi. </text> <text top="583" left="92" width="5" height="16" font="3"> </text> <text top="602" left="92" width="115" height="17" font="18">2.2.2 Auditing: </text> <text top="640" left="92" width="5" height="16" font="0"><b> </b></text> <text top="659" left="92" width="702" height="16" font="3">All the entities have their financial statements audited by Independent Auditors for 2010 and </text> <text top="678" left="92" width="702" height="16" font="3">2011. None of the Auditors&#8217; statements was qualified. The Auditor General of Ghana had </text> <text top="698" left="92" width="587" height="16" font="3">completed the audit of all participating government Agencies for 2010 and 2011. </text> <text top="735" left="92" width="192" height="16" font="11"><b>2.3 BENEFIT STREAMS: </b></text> <text top="759" left="92" width="651" height="16" font="3">Revenue streams for the reconciliation assignment are stated in<b> </b>the<b> </b>Terms of Reference. (See </text> <text top="782" left="92" width="78" height="14" font="3">Appendix 1)</text> <text top="781" left="170" width="5" height="16" font="0"><b> </b></text> <text top="819" left="92" width="27" height="16" font="10">2.3.</text> <text top="819" left="119" width="151" height="17" font="18">1 MINERAL RIGHTS: </text> <text top="856" left="92" width="686" height="16" font="3">Mineral rights are vested in the state and granted by the Ministry of Lands, Mines and Forestry. </text> <text top="893" left="92" width="702" height="16" font="3">The licences considered here are those that allow the holder the right to enter the land and </text> <text top="915" left="92" width="164" height="16" font="3">perform specific tasks. </text> <text top="952" left="92" width="701" height="16" font="3">There are three sequential categories entitling the holder to conduct reconnaissance of, prospect </text> <text top="974" left="92" width="206" height="16" font="3">for or mine certain minerals. </text> <text top="1010" left="92" width="234" height="17" font="18">2.3.1.1 Reconnaissance Licence. </text> <text top="1031" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1050" left="92" width="702" height="16" font="3">A reconnaissance licence which covers the first stage in mining operation entitles the holder to </text> <text top="1069" left="92" width="582" height="16" font="3">search for specified minerals by geological, geophysical and geochemical means. </text> <text top="1089" left="92" width="5" height="16" font="3"> </text> </page> <page number="13" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="32" size="15" family="Times" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="780" width="12" height="14" font="3">4 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="702" height="16" font="3">In general, reconnaissance licences do not permit drilling, excavation, or other physical activities </text> <text top="182" left="92" width="572" height="16" font="3">on the land, except where such activity is specifically mentioned by the licence. </text> <text top="201" left="92" width="5" height="16" font="3"> </text> <text top="221" left="92" width="702" height="16" font="3">Reconnaissance licence is granted for an initial period of not more than twelve months with a </text> <text top="240" left="92" width="702" height="16" font="3">renewable option for another twelve months for land area ranging between one block and five </text> <text top="259" left="92" width="306" height="16" font="3">thousand blocks. (A block is 21 hectares). </text> <text top="279" left="92" width="5" height="16" font="0"><b> </b></text> <text top="297" left="92" width="199" height="17" font="18">2.3.1.2 Prospecting Licence </text> <text top="317" left="92" width="5" height="16" font="3"> </text> <text top="354" left="92" width="702" height="16" font="3">Prospecting licence which covers the second stage of mining operations entitles the holder to </text> <text top="377" left="92" width="579" height="16" font="3">search for stipulated minerals and to determine their extent and economic value. </text> <text top="413" left="92" width="702" height="16" font="3">This licence is granted for an initial period of three years for a land area not exceeding 750 </text> <text top="436" left="92" width="701" height="16" font="3">contiguous blocks. The prospecting licence may be extended for a period not exceeding three </text> <text top="458" left="92" width="541" height="16" font="3">years in respect of all or for any number of blocks subject for prospecting. </text> <text top="494" left="92" width="157" height="17" font="18">2.3.1.3 Mining Lease </text> <text top="532" left="92" width="701" height="16" font="3">When a holder of a reconnaissance licence or a prospecting licence has established that the </text> <text top="551" left="92" width="702" height="16" font="3">mineral(s) indicated in the licence is/are present in commercial quantities, an application for a </text> <text top="570" left="92" width="545" height="16" font="3">mining lease may be applied for before the expiration of the current licence. </text> <text top="590" left="92" width="5" height="16" font="3"> </text> <text top="610" left="92" width="702" height="16" font="3">The mining lease is granted for an initial period of thirty (30) years or less as may be agreed </text> <text top="629" left="92" width="650" height="16" font="3">upon with the applicant and may be renewed for an additional period of thirty (30) years. </text> <text top="648" left="92" width="5" height="16" font="3"> </text> <text top="668" left="92" width="701" height="16" font="3">For the purposes of aggregation under the Extractive Industries Transparency Initiative (EITI) </text> <text top="687" left="92" width="276" height="16" font="3">only the licensing fees are considered. </text> <text top="706" left="92" width="5" height="16" font="0"><b> </b></text> <text top="743" left="92" width="189" height="17" font="18">2.3.2 MINERAL ROYALTY: </text> <text top="780" left="92" width="702" height="16" font="3">It is a production based tax which is levied on the basis of Section 25 of the Minerals and Mining </text> <text top="800" left="92" width="702" height="16" font="3">Act, 2006; ACT 703 which states that &#8216;A holder of a mining lease, restricted mining lease or small </text> <text top="819" left="92" width="701" height="16" font="3">scale mining licence shall pay royalty that may be prescribed in respect of minerals obtained from </text> <text top="838" left="92" width="702" height="16" font="3">its mining operations to the Republic, except that the rate of royalty shall not be more than 6% </text> <text top="858" left="92" width="523" height="16" font="3">or less than 3% of the total revenue of minerals obtained by the holder.&#8221; </text> <text top="877" left="92" width="5" height="16" font="3"> </text> <text top="896" left="92" width="702" height="16" font="3">An amendment to section 25 of ACT 703; passed in March 2010, provided royalty payment at 5% </text> <text top="916" left="92" width="276" height="16" font="3">of the gross revenue of mineral mined.</text> <text top="915" left="368" width="5" height="17" font="32"><b> </b></text> <text top="935" left="92" width="5" height="16" font="3"> </text> <text top="955" left="92" width="702" height="16" font="3">Mining Companies are liable to pay royalties immediately they commence mineral production in </text> <text top="974" left="92" width="91" height="16" font="3">the country. </text> <text top="993" left="92" width="5" height="16" font="3"> </text> <text top="1013" left="92" width="517" height="16" font="3">Payment of mineral royalties is made quarterly by all Mining Companies. </text> <text top="1049" left="92" width="5" height="17" font="18"> </text> <text top="1086" left="92" width="5" height="17" font="18"> </text> </page> <page number="14" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="33" size="14" family="Times" color="#0000ff"/> <fontspec id="34" size="14" family="Times" color="#538dd4"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="780" width="12" height="14" font="3">5 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="174" height="17" font="18">2.3.3 CORPORATE TAX </text> <text top="199" left="92" width="702" height="16" font="3">Corporate tax is currently fixed at 25% of Net Profit. All the mining companies under </text> <text top="219" left="92" width="277" height="16" font="3">consideration are on self-assessment. </text> <text top="238" left="92" width="5" height="16" font="3"> </text> <text top="257" left="92" width="613" height="16" font="3">Self-assessment companies are allowed to forecast their profits for the year and pay </text> <text top="277" left="92" width="339" height="16" font="3">some deposits based on their own assessment. </text> <text top="296" left="92" width="5" height="16" font="3"> </text> <text top="315" left="92" width="635" height="16" font="3">Companies on self-assessment are however required to submit their yearly returns four </text> <text top="335" left="92" width="329" height="16" font="3">months after the end of the accounting year. </text> <text top="354" left="92" width="5" height="16" font="3"> </text> <text top="374" left="92" width="5" height="16" font="3"> </text> <text top="393" left="92" width="701" height="16" font="3">In 2012, the country amended the capital allowance rules for the mining sector. Under the new </text> <text top="415" left="92" width="515" height="16" font="3">regulations capital allowance is 20% per annum on a straight line basis. </text> <text top="452" left="92" width="702" height="16" font="3">For the purposes of computing capital allowances for mining entities, the following are considered </text> <text top="472" left="92" width="75" height="16" font="3">as Assets. </text> <text top="491" left="92" width="5" height="16" font="3"> </text> <text top="511" left="92" width="200" height="16" font="33">i) Mineral Exploration rights </text> <text top="530" left="92" width="5" height="16" font="34"> </text> <text top="549" left="92" width="702" height="16" font="3">ii) Building, structures and works of a permanent nature which are likely to be of little or no value </text> <text top="569" left="92" width="608" height="16" font="3">when the rights are exhausted or the prospecting, exploration, or development ends. </text> <text top="588" left="92" width="5" height="16" font="3"> </text> <text top="607" left="92" width="365" height="16" font="3">iii) Plant and machinery used in mining operations. </text> <text top="627" left="92" width="5" height="16" font="3"> </text> <text top="646" left="92" width="702" height="16" font="3">iv) Costs incurred in respect of mineral prospecting, exploration and development (are treated as </text> <text top="665" left="92" width="420" height="16" font="3">if they were incurred in securing the acquisition of assets). </text> <text top="685" left="92" width="5" height="16" font="3"> </text> <text top="700" left="92" width="7" height="21" font="20">&#8226;</text> <text top="705" left="99" width="4" height="15" font="21"> </text> <text top="704" left="118" width="173" height="16" font="10">Carry forward of losses. </text> <text top="724" left="92" width="5" height="16" font="3"> </text> <text top="743" left="92" width="702" height="16" font="3">Mining companies are allowed to carry forward losses arising in any year to the next year for </text> <text top="763" left="92" width="176" height="16" font="3">offset against the profit. </text> <text top="782" left="92" width="5" height="16" font="3"> </text> <text top="801" left="92" width="678" height="16" font="3">The loss must however be deducted within five years following that in which the loss occurred. </text> <text top="821" left="92" width="5" height="16" font="3"> </text> <text top="839" left="92" width="160" height="17" font="18">2.3.4 GROUND RENT: </text> <text top="859" left="92" width="5" height="16" font="0"><b> </b></text> <text top="879" left="92" width="701" height="16" font="3">This<b> </b>is the annual payment made by mining companies and other companies to the owners of the </text> <text top="898" left="92" width="40" height="16" font="3">land. </text> <text top="918" left="92" width="5" height="16" font="3"> </text> <text top="937" left="92" width="702" height="16" font="3">The participating mining companies operate on stool lands and therefore pay their ground rent to </text> <text top="956" left="92" width="331" height="16" font="3">the Office of the Administrator of Stool Lands. </text> <text top="976" left="92" width="5" height="16" font="3"> </text> <text top="995" left="92" width="545" height="16" font="3">The amount payable as ground rent depends on the size of the concession. </text> <text top="1031" left="92" width="172" height="17" font="18">2.3.5 PROPERTY RATE: </text> <text top="1069" left="92" width="702" height="16" font="3">Property rates as the name indicates are levies that are imposed on buildings, and plants that are </text> <text top="1088" left="92" width="146" height="16" font="3">fixed to the ground. </text> </page> <page number="15" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="35" size="12" family="Times" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="780" width="12" height="14" font="3">6 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="5" height="16" font="3"> </text> <text top="182" left="92" width="702" height="16" font="3">Property rates are determined by the District Assemblies after applying a formula (Rate impost) to </text> <text top="201" left="92" width="127" height="16" font="3">valuation figures. </text> <text top="221" left="92" width="5" height="16" font="3"> </text> <text top="240" left="92" width="702" height="16" font="3">The valuation figures for properties are determined by the District Valuation Board with approval </text> <text top="259" left="92" width="259" height="16" font="3">from the Regional Valuation Board. </text> <text top="279" left="92" width="5" height="16" font="3"> </text> <text top="298" left="92" width="584" height="16" font="3">The District Assemblies collect property rates directly from the mining companies. </text> <text top="317" left="92" width="684" height="16" font="3">Some mining companies divide the amount payable into four parts and pay in four installments. </text> <text top="337" left="92" width="5" height="16" font="3"> </text> <text top="356" left="92" width="672" height="16" font="3">District Assemblies apply property rates from mining companies as internally generated funds. </text> <text top="376" left="92" width="259" height="16" font="3">It is used for recurrent expenditure. </text> <text top="395" left="92" width="5" height="16" font="0"><b> </b></text> <text top="431" left="92" width="131" height="17" font="18">2.3.6 DIVIDEND: </text> <text top="469" left="92" width="702" height="16" font="3">The Republic of Ghana retains a 10% non-contributing shareholding in every mining lease holder. </text> <text top="491" left="92" width="701" height="16" font="3">The government&#8217;s percentage holding (10%) may be altered in circumstances where special </text> <text top="513" left="92" width="136" height="16" font="3">agreements exist. </text> <text top="550" left="92" width="702" height="16" font="3">The Government&#8217;s share of dividends when declared by the companies is collected by the Non </text> <text top="572" left="92" width="489" height="16" font="3">Tax Revenue Unit of the Ministry of Finance and Economic Planning. </text> <text top="612" left="92" width="341" height="16" font="11"><b>2.4 GOVERNMENT REPORTING ENTITIES: </b></text> <text top="636" left="92" width="5" height="16" font="3"> </text> <text top="656" left="92" width="702" height="16" font="3">The Ministries&#8217; Agencies&#8217; and entities which provided data and information for this assignment </text> <text top="675" left="92" width="70" height="16" font="3">included: </text> <text top="694" left="92" width="5" height="16" font="3"> </text> <text top="710" left="92" width="7" height="21" font="23">&#8226;</text> <text top="715" left="99" width="4" height="15" font="24"> </text> <text top="714" left="118" width="426" height="16" font="3">Ghana Revenue Authority (Domestic Tax Revenue Division) </text> <text top="729" left="92" width="7" height="21" font="23">&#8226;</text> <text top="734" left="99" width="4" height="15" font="24"> </text> <text top="733" left="118" width="324" height="16" font="3">Ghana Revenue Authority (Customs Division) </text> <text top="749" left="92" width="7" height="21" font="23">&#8226;</text> <text top="754" left="99" width="4" height="15" font="24"> </text> <text top="753" left="118" width="243" height="16" font="3">The Administrator of Stool Lands. </text> <text top="768" left="92" width="7" height="21" font="23">&#8226;</text> <text top="773" left="99" width="4" height="15" font="24"> </text> <text top="772" left="118" width="185" height="16" font="3">The Minerals Commission </text> <text top="788" left="92" width="7" height="21" font="23">&#8226;</text> <text top="792" left="99" width="4" height="15" font="24"> </text> <text top="792" left="118" width="675" height="16" font="3">The Municipal and District Assemblies within the area of operation of the mines covered under </text> <text top="811" left="118" width="118" height="16" font="3">the assignment. </text> <text top="827" left="92" width="7" height="21" font="23">&#8226;</text> <text top="831" left="99" width="4" height="15" font="24"> </text> <text top="831" left="118" width="327" height="16" font="3">The Ministry of Lands and Natural Resources. </text> <text top="846" left="92" width="7" height="21" font="23">&#8226;</text> <text top="851" left="99" width="4" height="15" font="24"> </text> <text top="850" left="118" width="511" height="16" font="3">Non Tax Revenue Agency (Ministry of Finance and Economic Planning). </text> <text top="869" left="92" width="4" height="14" font="35"><b> </b></text> <text top="890" left="92" width="4" height="14" font="35"><b> </b></text> <text top="911" left="92" width="4" height="14" font="35"><b> </b></text> <text top="932" left="92" width="4" height="14" font="35"><b> </b></text> <text top="954" left="92" width="4" height="14" font="35"><b> </b></text> <text top="975" left="92" width="4" height="14" font="35"><b> </b></text> <text top="996" left="92" width="4" height="14" font="35"><b> </b></text> <text top="1017" left="92" width="4" height="14" font="35"><b> </b></text> <text top="1038" left="92" width="4" height="14" font="35"><b> </b></text> <text top="1059" left="92" width="4" height="14" font="35"><b> </b></text> <text top="1080" left="92" width="4" height="14" font="35"><b> </b></text> </page> <page number="16" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="36" size="13" family="Times" color="#3232ff"/> <fontspec id="37" size="12" family="Times" color="#000000"/> <fontspec id="38" size="12" family="Helvetica" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="780" width="12" height="14" font="3">7 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="4" height="14" font="35"><b> </b></text> <text top="183" left="92" width="4" height="14" font="35"><b> </b></text> <text top="203" left="92" width="426" height="15" font="36">Table 2.1: Government Agencies and provision of relevant data. </text> <text top="227" left="92" width="160" height="16" font="26">Name of Organization </text> <text top="226" left="307" width="80" height="16" font="26">Data to be </text> <text top="250" left="307" width="148" height="16" font="26">provided/Purpose of </text> <text top="273" left="307" width="87" height="16" font="26">Interaction. </text> <text top="227" left="523" width="75" height="16" font="26">REMARKS </text> <text top="312" left="92" width="153" height="16" font="3">Minerals Commission </text> <text top="312" left="324" width="4" height="13" font="38"> </text> <text top="311" left="339" width="89" height="14" font="37">Mineral Right </text> <text top="332" left="339" width="171" height="14" font="37">Licences(Reconnaissance; </text> <text top="354" left="339" width="131" height="14" font="37">Prospecting: Mining </text> <text top="375" left="339" width="47" height="14" font="37">Lease) </text> <text top="397" left="324" width="4" height="13" font="38"> </text> <text top="396" left="339" width="140" height="14" font="37">Production and other </text> <text top="417" left="339" width="101" height="14" font="37">costs details of </text> <text top="438" left="339" width="73" height="14" font="37">companies </text> <text top="312" left="523" width="5" height="16" font="3"> </text> <text top="460" left="92" width="137" height="16" font="3">District Assemblies </text> <text top="461" left="324" width="4" height="13" font="38"> </text> <text top="460" left="339" width="83" height="14" font="37">Property tax </text> <text top="482" left="324" width="4" height="13" font="38"> </text> <text top="481" left="339" width="100" height="14" font="37">Mineral royalty </text> <text top="502" left="339" width="114" height="14" font="37">received/utilized. </text> <text top="524" left="307" width="5" height="14" font="37"> </text> <text top="460" left="523" width="5" height="16" font="3"> </text> <text top="560" left="92" width="160" height="16" font="3">Administrator of Stool </text> <text top="583" left="92" width="47" height="16" font="3">Lands-</text> <text top="585" left="139" width="139" height="14" font="37">Head office/Relevant </text> <text top="607" left="92" width="108" height="14" font="37">Regional Offices.</text> <text top="605" left="200" width="5" height="16" font="3"> </text> <text top="561" left="324" width="4" height="13" font="38"> </text> <text top="560" left="339" width="86" height="14" font="37">Ground Rent </text> <text top="582" left="324" width="4" height="13" font="38"> </text> <text top="581" left="339" width="123" height="14" font="37">Amount of Mineral </text> <text top="602" left="339" width="146" height="14" font="37">Royalties disbursed to </text> <text top="623" left="339" width="130" height="14" font="37">District Assemblies; </text> <text top="644" left="339" width="146" height="14" font="37">Traditional Authorities </text> <text top="666" left="339" width="76" height="14" font="37">and Stools. </text> <text top="560" left="523" width="5" height="16" font="3"> </text> <text top="688" left="92" width="186" height="16" font="3">Ghana Revenue Authority </text> <text top="711" left="92" width="53" height="16" font="3">(GRA). </text> <text top="688" left="324" width="4" height="13" font="38"> </text> <text top="688" left="339" width="103" height="14" font="37">Mineral Royalty </text> <text top="710" left="324" width="4" height="13" font="38"> </text> <text top="709" left="339" width="96" height="14" font="37">Corporate Tax </text> <text top="688" left="523" width="5" height="16" font="3"> </text> <text top="781" left="92" width="165" height="16" font="3">Non-Tax Revenue Unit </text> <text top="819" left="92" width="176" height="16" font="3">(Ministry of Finance and </text> <text top="842" left="92" width="144" height="16" font="3">Economic Planning) </text> <text top="782" left="319" width="4" height="13" font="38"> </text> <text top="781" left="334" width="67" height="14" font="37">Dividends </text> <text top="781" left="523" width="5" height="16" font="3"> </text> <text top="881" left="92" width="150" height="16" font="3">Ministry of Land and </text> <text top="904" left="92" width="138" height="16" font="3">Natural Resources. </text> <text top="881" left="319" width="4" height="13" font="38"> </text> <text top="881" left="334" width="141" height="14" font="37">Mineral Development </text> <text top="902" left="334" width="41" height="14" font="37">Fund. </text> <text top="881" left="523" width="170" height="14" font="37">The Mineral Development </text> <text top="902" left="523" width="151" height="14" font="37">Fund is 10% of royalty </text> <text top="925" left="523" width="146" height="14" font="37">paid by Mining Entities</text> <text top="923" left="669" width="10" height="16" font="3">. </text> <text top="962" left="92" width="5" height="16" font="0"><b> </b></text> <text top="999" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1036" left="92" width="4" height="14" font="3"> </text> <text top="1073" left="92" width="5" height="16" font="0"><b> </b></text> </page> <page number="17" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="39" size="11" family="Times" color="#3232ff"/> <fontspec id="40" size="11" family="Times" color="#3232ff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="780" width="12" height="14" font="3">8 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="282" height="16" font="25"><b>3.0: PARTICIPATING COMPANIES </b></text> <text top="199" left="92" width="569" height="16" font="3">The companies that participated in the reconciliation exercise are shown below. </text> <text top="238" left="92" width="54" height="14" font="39">Table 3.1</text> <text top="235" left="146" width="16" height="17" font="18">: </text> <text top="238" left="162" width="438" height="14" font="39">List<b> </b>of participating companies in the 2010/2011 Aggregation/Reconciliation</text> <text top="235" left="600" width="5" height="17" font="19"><b> </b></text> <text top="592" left="92" width="23" height="16" font="0"><b> </b></text> <text top="628" left="92" width="201" height="16" font="11"><b>3.1 OTHER COMPANIES: </b></text> <text top="652" left="79" width="685" height="16" font="3">Other companies that were engaged in the extraction of minerals in 2010 and 2011, but did not </text> <text top="674" left="79" width="292" height="16" font="3">participate in the reconciliation included: </text> <text top="711" left="79" width="689" height="16" font="3">Mryco Salt industries, Mansco Quarry Ltd, Med Mining, Cedar Quarry Ltd, Shenying Salt Industry </text> <text top="734" left="79" width="505" height="16" font="3">Ltd, CP Concrete Products and Panbros Salt Ltd (see Appendix 2A-2P). </text> <text top="774" left="92" width="9" height="16" font="0"><b> </b></text> <text top="810" left="92" width="5" height="16" font="0"><b> </b></text> <text top="834" left="92" width="4" height="14" font="3"> </text> <text top="872" left="92" width="4" height="14" font="3"> </text> <text top="909" left="92" width="4" height="14" font="3"> </text> <text top="949" left="92" width="5" height="16" font="0"><b> </b></text> <text top="972" left="92" width="4" height="14" font="3"> </text> <text top="1010" left="92" width="4" height="14" font="3"> </text> <text top="1047" left="92" width="4" height="14" font="3"> </text> <text top="265" left="87" width="124" height="16" font="25"><b>Mine/Company</b></text> <text top="265" left="210" width="5" height="16" font="0"><b> </b></text> <text top="265" left="305" width="69" height="16" font="25"><b>Location</b></text> <text top="265" left="374" width="5" height="16" font="0"><b> </b></text> <text top="265" left="581" width="61" height="16" font="25"><b>Mineral</b></text> <text top="265" left="641" width="5" height="16" font="0"><b> </b></text> <text top="265" left="646" width="49" height="16" font="25"><b>Mined</b></text> <text top="265" left="695" width="5" height="16" font="0"><b> </b></text> <text top="285" left="87" width="159" height="16" font="3">Anglogold Ashanti Ltd </text> <text top="285" left="305" width="169" height="16" font="3">Obuasi, Ashanti Region </text> <text top="285" left="581" width="37" height="16" font="3">Gold </text> <text top="305" left="87" width="75" height="16" font="3">Anglogold </text> <text top="324" left="87" width="169" height="16" font="3">Ashanti(Iduapriem) Ltd </text> <text top="305" left="305" width="200" height="16" font="3">Iduapriem, Western Region </text> <text top="305" left="581" width="37" height="16" font="3">Gold </text> <text top="344" left="87" width="166" height="16" font="3">Adamus Resources Ltd </text> <text top="344" left="305" width="178" height="16" font="3">Nkroful, Western Region </text> <text top="344" left="581" width="37" height="16" font="3">Gold </text> <text top="364" left="87" width="115" height="16" font="3">GSR(Wassa)Ltd </text> <text top="364" left="305" width="201" height="16" font="3">Akyempim, Western Region </text> <text top="364" left="581" width="37" height="16" font="3">Gold </text> <text top="385" left="87" width="180" height="16" font="3">GSR(Prestea/Bogosu)Ltd </text> <text top="385" left="305" width="238" height="16" font="3">Prestea/Bogosu, Western Region </text> <text top="385" left="581" width="37" height="16" font="3">Gold </text> <text top="405" left="87" width="160" height="16" font="3">Gold Fields Ghana Ltd </text> <text top="405" left="305" width="179" height="16" font="3">Tarkwa, Western Region </text> <text top="405" left="581" width="37" height="16" font="3">Gold </text> <text top="425" left="87" width="157" height="16" font="3">Abosso Goldfields Ltd </text> <text top="425" left="305" width="181" height="16" font="3">Damang,Western Region </text> <text top="425" left="581" width="37" height="16" font="3">Gold </text> <text top="445" left="87" width="169" height="16" font="3">Chirano Gold Mines Ltd </text> <text top="445" left="305" width="181" height="16" font="3">Chirano, Western Region </text> <text top="445" left="581" width="37" height="16" font="3">Gold </text> <text top="473" left="87" width="188" height="16" font="3">Newmont Ghana Gold Ltd </text> <text top="473" left="305" width="156" height="16" font="3">Kenyase,Brong Ahafo </text> <text top="473" left="581" width="37" height="16" font="3">Gold </text> <text top="506" left="87" width="179" height="16" font="3">Ghana Bauxite Company </text> <text top="506" left="305" width="173" height="16" font="3">Awaso, Western Region </text> <text top="506" left="581" width="57" height="16" font="3">Bauxite </text> <text top="541" left="87" width="163" height="16" font="3">Ghana Manganese Ltd </text> <text top="541" left="305" width="163" height="16" font="3">Nsuta,Western Region </text> <text top="541" left="581" width="85" height="16" font="3">Manganese </text> </page> <page number="18" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="41" size="19" family="Times" color="#3232ff"/> <fontspec id="42" size="9" family="Times" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="780" width="12" height="14" font="3">9 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="233" height="16" font="11"><b>3.2 DISTRICT ASSEMBLIES: </b></text> <text top="186" left="92" width="641" height="16" font="3">The District Assemblies that participated in the reconciliation exercise are shown in Table </text> <text top="225" left="92" width="655" height="15" font="27"><b>Table 3.2</b> <b>District Assemblies of selected Mining Companies for 2010/2011 Reconciliation</b></text> <text top="223" left="747" width="5" height="17" font="18">.</text> <text top="220" left="752" width="6" height="21" font="41"> </text> <text top="247" left="92" width="5" height="16" font="26"> </text> <text top="268" left="92" width="31" height="16" font="26">No. </text> <text top="247" left="146" width="5" height="16" font="26"> </text> <text top="268" left="146" width="139" height="16" font="26"> Mining Company </text> <text top="247" left="339" width="5" height="16" font="26"> </text> <text top="268" left="339" width="77" height="16" font="26">District(s) </text> <text top="288" left="339" width="91" height="16" font="26">Assemblies. </text> <text top="247" left="505" width="5" height="16" font="26"> </text> <text top="268" left="505" width="132" height="16" font="26">Municipal/District </text> <text top="288" left="505" width="56" height="16" font="26">Capital </text> <text top="247" left="651" width="5" height="16" font="26"> </text> <text top="268" left="651" width="56" height="16" font="26">Region </text> <text top="309" left="92" width="14" height="16" font="3">1 </text> <text top="309" left="146" width="138" height="16" font="3">Anglogold Ashanti </text> <text top="309" left="339" width="136" height="16" font="26">Obuasi Municipal: </text> <text top="329" left="339" width="113" height="16" font="26">Adansi South; </text> <text top="349" left="339" width="106" height="16" font="26">Adansi North </text> <text top="370" left="339" width="131" height="16" font="26">Amansie Central </text> <text top="390" left="339" width="5" height="16" font="26"> </text> <text top="309" left="505" width="56" height="16" font="3">Obuasi </text> <text top="329" left="505" width="109" height="16" font="3">New Edubiase </text> <text top="349" left="505" width="64" height="16" font="3">Fomena </text> <text top="370" left="505" width="62" height="16" font="3">Jacobu. </text> <text top="309" left="651" width="60" height="16" font="3">Ashanti </text> <text top="329" left="651" width="12" height="16" font="3">&#8216;&#8217; </text> <text top="349" left="651" width="12" height="16" font="3">&#8216;&#8217; </text> <text top="370" left="651" width="12" height="16" font="3">&#8216;&#8217; </text> <text top="390" left="651" width="5" height="16" font="3"> </text> <text top="411" left="92" width="19" height="16" font="3">2. </text> <text top="411" left="146" width="138" height="16" font="3">Anglogold Ashanti </text> <text top="431" left="146" width="81" height="16" font="3">Iduapriem </text> <text top="451" left="146" width="5" height="16" font="3"> </text> <text top="411" left="339" width="130" height="16" font="26">Tarkwa Nsuaem </text> <text top="411" left="505" width="60" height="16" font="3">Tarkwa </text> <text top="411" left="651" width="67" height="16" font="3">Western </text> <text top="472" left="92" width="14" height="16" font="3">3 </text> <text top="472" left="146" width="168" height="16" font="3">Adamus Resources Ltd</text> <text top="469" left="314" width="3" height="11" font="42">i</text> <text top="472" left="316" width="5" height="16" font="3"> </text> <text top="472" left="339" width="85" height="16" font="26">Ellembelle </text> <text top="493" left="339" width="5" height="16" font="26"> </text> <text top="472" left="505" width="59" height="16" font="3">Nkroful </text> <text top="472" left="651" width="67" height="16" font="3">Western </text> <text top="514" left="92" width="19" height="16" font="3">4. </text> <text top="514" left="146" width="164" height="16" font="3">Abosso Goldfields Ltd </text> <text top="534" left="146" width="5" height="16" font="3"> </text> <text top="514" left="339" width="148" height="16" font="26">Prestea Huni Valley </text> <text top="514" left="505" width="60" height="16" font="3">Tarkwa </text> <text top="514" left="651" width="67" height="16" font="3">Western </text> <text top="555" left="92" width="19" height="16" font="3">5. </text> <text top="555" left="146" width="158" height="16" font="3">Gold Fields (Tarkwa) </text> <text top="555" left="339" width="124" height="16" font="26">Tarkwa Nsuaem </text> <text top="555" left="505" width="60" height="16" font="3">Tarkwa </text> <text top="575" left="505" width="5" height="16" font="3"> </text> <text top="555" left="651" width="67" height="16" font="3">Western </text> <text top="575" left="651" width="5" height="16" font="3"> </text> <text top="596" left="92" width="14" height="16" font="3">6 </text> <text top="617" left="92" width="5" height="16" font="3"> </text> <text top="596" left="146" width="89" height="16" font="3">GSR Wassa </text> <text top="617" left="146" width="97" height="16" font="3">Ltd/Wexford </text> <text top="596" left="339" width="151" height="16" font="26">Mpohor Wassa East </text> <text top="617" left="339" width="5" height="16" font="26"> </text> <text top="637" left="339" width="5" height="16" font="26"> </text> <text top="596" left="505" width="69" height="16" font="3">Daboase </text> <text top="596" left="651" width="67" height="16" font="3">Western </text> <text top="658" left="92" width="19" height="16" font="3">7. </text> <text top="658" left="146" width="157" height="16" font="3">GSR Prestea/Bogosu </text> <text top="658" left="339" width="148" height="16" font="26">Prestea Huni Valley </text> <text top="658" left="505" width="60" height="16" font="3">Tarkwa </text> <text top="658" left="651" width="67" height="16" font="3">Western </text> <text top="678" left="651" width="5" height="16" font="3"> </text> <text top="699" left="92" width="19" height="16" font="3">8. </text> <text top="699" left="146" width="171" height="16" font="3">Ghana Bauxite Co. Ltd </text> <text top="699" left="339" width="121" height="16" font="26">Bibiani Ahwiaso </text> <text top="719" left="339" width="5" height="16" font="26"> </text> <text top="699" left="505" width="54" height="16" font="3">Bibiani </text> <text top="699" left="651" width="67" height="16" font="3">Western </text> <text top="740" left="92" width="14" height="16" font="3">9 </text> <text top="740" left="146" width="173" height="16" font="3">Newmont Ghana Gold </text> <text top="761" left="146" width="28" height="16" font="3">Ltd </text> <text top="740" left="339" width="51" height="16" font="26">Asutifi </text> <text top="740" left="505" width="67" height="16" font="3">Kenyase </text> <text top="740" left="651" width="97" height="16" font="3">Brong Ahafo </text> <text top="782" left="92" width="5" height="16" font="3"> </text> <text top="802" left="92" width="24" height="16" font="3">10 </text> <text top="782" left="146" width="166" height="16" font="3">Ghana Manganese Co </text> <text top="802" left="146" width="28" height="16" font="3">Ltd </text> <text top="782" left="339" width="124" height="16" font="26">Tarkwa Nsuaem </text> <text top="782" left="505" width="60" height="16" font="3">Tarkwa </text> <text top="782" left="651" width="67" height="16" font="3">Western </text> <text top="802" left="651" width="5" height="16" font="3"> </text> <text top="823" left="92" width="24" height="16" font="26">11 </text> <text top="823" left="146" width="326" height="16" font="26">Chirano Gold Mines Ltd Bibiani/Ahwiaso; </text> <text top="843" left="339" width="102" height="16" font="26">Sefwi District </text> <text top="863" left="339" width="75" height="16" font="26">Assembly </text> <text top="823" left="505" width="54" height="16" font="26">Bibiani </text> <text top="843" left="505" width="107" height="16" font="26">Sefwi Wiawso </text> <text top="823" left="651" width="67" height="16" font="26">Western </text> <text top="885" left="92" width="12" height="20" font="7"><b> </b></text> <text top="928" left="92" width="6" height="20" font="4"> </text> <text top="971" left="92" width="6" height="20" font="4"> </text> <text top="1014" left="92" width="6" height="20" font="4"> </text> <text top="1057" left="92" width="6" height="20" font="4"> </text> </page> <page number="19" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">10 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="5" height="16" font="0"><b> </b></text> <text top="199" left="92" width="303" height="16" font="25"><b>4.0 APPROACH AND METHODOLOGY: </b></text> <text top="236" left="92" width="399" height="16" font="3">The Assignment was categorised into two main phases. </text> <text top="273" left="92" width="419" height="16" font="3">These are i) Inception, ii) Aggregation and Reconciliation </text> <text top="311" left="105" width="4" height="15" font="21"> </text> <text top="310" left="118" width="135" height="16" font="11"><b>Inception phase </b></text> <text top="329" left="92" width="5" height="16" font="3"> </text> <text top="366" left="92" width="702" height="16" font="3">This is the preliminary information gathering stage. The Aggregator interacted with Mining </text> <text top="388" left="92" width="702" height="16" font="3">companies, Government Revenue Agencies and District Assemblies. An inception report was </text> <text top="411" left="92" width="169" height="16" font="3">issued after this phase. </text> <text top="448" left="92" width="5" height="16" font="3"> </text> <text top="485" left="105" width="4" height="15" font="21"> </text> <text top="485" left="118" width="275" height="16" font="11"><b>Aggregated/Reconciliation Phase </b></text> <text top="504" left="92" width="5" height="16" font="3"> </text> <text top="541" left="92" width="702" height="16" font="3">This represented the main thrust of the assignment. It involved the collection and analysis of </text> <text top="563" left="92" width="41" height="16" font="3">data. </text> <text top="600" left="92" width="333" height="16" font="3">It also included financial and processing audit. </text> <text top="637" left="92" width="701" height="16" font="3">In executing the assignment we considered a design methodology which was used to request for </text> <text top="659" left="92" width="702" height="16" font="3">historical data on mining benefits received by Government. In line with this questionnaires were </text> <text top="682" left="92" width="701" height="16" font="3">designed right from the Inception phase to elicit responses from Government Agencies, Mining </text> <text top="704" left="92" width="256" height="16" font="3">Companies and District Assemblies. </text> <text top="741" left="92" width="632" height="16" font="3">A combination of desk and field work was employed in the execution of this assignment. </text> <text top="778" left="92" width="701" height="16" font="3">The desktop analysis involved the use of electronic data base management, computer </text> <text top="800" left="92" width="313" height="16" font="3">spreadsheets and other software packages. </text> <text top="837" left="92" width="701" height="16" font="3">In order to enable the effective execution of the tasks on schedule, a number of activities were </text> <text top="859" left="92" width="176" height="16" font="3">executed concurrently. </text> <text top="895" left="99" width="7" height="21" font="20">&#8226;</text> <text top="900" left="106" width="4" height="15" font="21"> </text> <text top="899" left="125" width="151" height="16" font="11"><b>Document Review </b></text> <text top="923" left="92" width="4" height="14" font="3"> </text> <text top="960" left="92" width="702" height="16" font="3">Available documentation was critically reviewed to gain a deeper understanding of the </text> <text top="982" left="92" width="90" height="16" font="3">assignment. </text> <text top="1019" left="92" width="455" height="16" font="3">Documents identified that were studied included the following: </text> <text top="1056" left="118" width="13" height="16" font="3">a.</text> <text top="1057" left="132" width="4" height="15" font="24"> </text> <text top="1056" left="145" width="157" height="16" font="3">Reporting Templates </text> <text top="1075" left="118" width="14" height="16" font="3">b.</text> <text top="1076" left="132" width="4" height="15" font="24"> </text> <text top="1075" left="145" width="212" height="16" font="3">Mineral and Mining Act, 2006 </text> </page> <page number="20" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="43" size="14" family="Times" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">11 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="118" width="12" height="16" font="3">c.</text> <text top="163" left="130" width="4" height="15" font="24"> </text> <text top="162" left="145" width="302" height="16" font="3">Ghana Chamber of Mines Annual Reports. </text> <text top="182" left="118" width="14" height="16" font="3">d.</text> <text top="183" left="132" width="4" height="15" font="24"> </text> <text top="182" left="145" width="376" height="16" font="3">Feasibility Studies of participating Mining Companies </text> <text top="201" left="118" width="13" height="16" font="3">e.</text> <text top="202" left="132" width="4" height="15" font="24"> </text> <text top="201" left="145" width="353" height="16" font="3">Annual reports of participating mining companies </text> <text top="221" left="118" width="10" height="16" font="3">f.</text> <text top="221" left="128" width="4" height="15" font="24"> </text> <text top="221" left="145" width="442" height="16" font="3">Financial statements of mining companies for 2010 and 2011. </text> <text top="240" left="118" width="5" height="16" font="3"> </text> <text top="259" left="118" width="625" height="16" font="3">The document review was undertaken throughout the entire length of the assignment. </text> <text top="296" left="92" width="5" height="16" font="0"><b> </b></text> <text top="333" left="92" width="370" height="16" font="11"><b>4.1 AGGREGATION/RECONCILIATION PHASE </b></text> <text top="357" left="92" width="5" height="16" font="0"><b> </b></text> <text top="393" left="92" width="158" height="17" font="18">4.1.2 Data Collection: </text> <text top="431" left="92" width="702" height="16" font="3">Data requested from the Departments and Agencies, selected Mining Companies and the relevant </text> <text top="453" left="92" width="333" height="16" font="3">District Assemblies was collated and analyzed. </text> <text top="490" left="92" width="702" height="16" font="3">The data collected included amounts paid by participating companies and receipts by the </text> <text top="512" left="92" width="163" height="16" font="3">government Agencies. </text> <text top="549" left="92" width="635" height="16" font="3">In addition to data on payments/receipts the reconciler also requested from participating </text> <text top="571" left="92" width="667" height="16" font="3">companies, information on capital allowances, production costs and preproduction costs. This </text> <text top="593" left="92" width="558" height="16" font="3">information is not provided in detail in the financial statements of companies. </text> <text top="631" left="92" width="4" height="14" font="43"><i> </i></text> <text top="667" left="92" width="117" height="17" font="18">4.1.2.1 Analysis </text> <text top="690" left="92" width="10" height="16" font="3"> </text> <text top="727" left="92" width="320" height="16" font="3">Activities undertaken at this stage included: </text> <text top="760" left="123" width="7" height="21" font="23">&#8226;</text> <text top="765" left="130" width="4" height="15" font="24"> </text> <text top="764" left="149" width="576" height="16" font="3">the reconciliation of details from Mining sector Agencies and Revenue Agencies, </text> <text top="783" left="123" width="5" height="16" font="3"> </text> <text top="816" left="123" width="7" height="21" font="23">&#8226;</text> <text top="821" left="130" width="4" height="15" font="24"> </text> <text top="820" left="149" width="645" height="16" font="3">Ascertaining the correctness of computations and payments received by each of the </text> <text top="840" left="149" width="645" height="16" font="3">agencies with respect to mineral right licence; ground rent; royalty; corporate tax and </text> <text top="859" left="149" width="77" height="16" font="3">dividends. </text> <text top="878" left="92" width="5" height="16" font="3"> </text> <text top="911" left="123" width="7" height="21" font="23">&#8226;</text> <text top="916" left="130" width="4" height="15" font="24"> </text> <text top="915" left="149" width="602" height="16" font="3"> Comparing payments by Mining Companies to that recorded by Revenue Agencies. </text> <text top="935" left="92" width="5" height="16" font="3"> </text> <text top="968" left="123" width="7" height="21" font="23">&#8226;</text> <text top="972" left="130" width="4" height="15" font="24"> </text> <text top="972" left="149" width="645" height="16" font="3">The reconciliation of payments made by the Head Office of the Administrator of Stool </text> <text top="991" left="149" width="327" height="16" font="3">Lands with that of its various regional offices. </text> <text top="1010" left="92" width="5" height="16" font="3"> </text> <text top="1044" left="123" width="7" height="21" font="23">&#8226;</text> <text top="1048" left="130" width="4" height="15" font="24"> </text> <text top="1047" left="149" width="645" height="16" font="3">The reconciliation of technical data from Mining Companies with that of the Mineral </text> <text top="1067" left="149" width="95" height="16" font="3">Commission. </text> <text top="1086" left="92" width="5" height="16" font="3"> </text> </page> <page number="21" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="44" size="15" family="Symbol" color="#000000"/> <fontspec id="45" size="15" family="Helvetica" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">12 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="159" left="118" width="8" height="23" font="44">&#8226;</text> <text top="164" left="126" width="5" height="16" font="45"> </text> <text top="163" left="145" width="649" height="17" font="2">Data collected from the District Assemblies, was reconciled with that of the Office </text> <text top="184" left="145" width="292" height="17" font="2">of the Administrator of Stool Lands. </text> <text top="205" left="92" width="15" height="16" font="3"> </text> <text top="238" left="118" width="8" height="23" font="44">&#8226;</text> <text top="243" left="126" width="5" height="16" font="45"> </text> <text top="242" left="145" width="649" height="17" font="2">Reviewed the accounts of the District Assemblies in respect of mineral royalty, </text> <text top="263" left="145" width="649" height="17" font="2">property rates and ground rent. The main objective is to ensure that payments </text> <text top="284" left="145" width="589" height="17" font="2">made by the Government to District Assemblies are properly accounted for. </text> <text top="323" left="145" width="649" height="17" font="2">The analysis included reviewing receipts on mineral royalties, Bank Accounts, Cash </text> <text top="344" left="145" width="491" height="17" font="2">Books and disbursements made from Mineral royalty accounts. </text> <text top="379" left="118" width="8" height="23" font="44">&#8226;</text> <text top="384" left="126" width="5" height="16" font="45"> </text> <text top="383" left="145" width="649" height="17" font="2">Disbursements were then matched against various projects made by the District </text> <text top="404" left="145" width="367" height="17" font="2">Assemblies from the mineral royalty accounts. </text> <text top="439" left="92" width="212" height="17" font="18">4.1.2.2 Data reliability check </text> <text top="479" left="92" width="676" height="17" font="2">Data collected from paticipating entities was scrutinised to ensure that they fully meet </text> <text top="500" left="92" width="670" height="17" font="2">the requirements set out for the completion of templates. Data reliability was checked </text> <text top="521" left="92" width="231" height="17" font="2">against the following criteria: </text> <text top="557" left="118" width="16" height="17" font="2">a)</text> <text top="557" left="134" width="5" height="16" font="45"> </text> <text top="557" left="145" width="621" height="17" font="2">Certification:- Templates were checked to ensure that they have been properly </text> <text top="581" left="145" width="634" height="17" font="2">endorsed by completing officers with appropriate signatories and official stamps. </text> <text top="605" left="145" width="5" height="17" font="2"> </text> <text top="630" left="118" width="16" height="17" font="2">b)</text> <text top="631" left="135" width="5" height="16" font="45"> </text> <text top="630" left="145" width="638" height="17" font="2">Completeness:- Templates submitted by participating candidates were checked to </text> <text top="654" left="145" width="541" height="17" font="2">ensure that all requisite responses have been thoroughly completed. </text> <text top="678" left="145" width="5" height="17" font="2"> </text> <text top="700" left="145" width="5" height="17" font="2"> </text> <text top="724" left="118" width="15" height="17" font="2">c)</text> <text top="725" left="133" width="5" height="16" font="45"> </text> <text top="724" left="145" width="585" height="17" font="2">Relevance:- Attached documentations such as receipts and schedules were </text> <text top="748" left="145" width="603" height="17" font="2">checked for their relevance to figures and periods provided on the templates. </text> <text top="773" left="145" width="5" height="17" font="2"> </text> <text top="797" left="118" width="16" height="17" font="2">d)</text> <text top="798" left="135" width="5" height="16" font="45"> </text> <text top="797" left="145" width="585" height="17" font="2">Correctness/accuracy:- Figures provided in the templates were checked for </text> <text top="821" left="145" width="598" height="17" font="2">correctness against receipts or other documentions provided. Also figures on </text> <text top="845" left="145" width="608" height="17" font="2">receipts were summed up to ensure they tally with the figures provided in the </text> <text top="870" left="145" width="97" height="17" font="2">templates. </text> <text top="907" left="92" width="304" height="17" font="18">4.1.3 Data Aggregation and Reconciliation </text> <text top="945" left="92" width="642" height="16" font="3">Templates were completed for Government and Mining Companies. The process involved: </text> <text top="982" left="92" width="5" height="16" font="3"> </text> <text top="1021" left="96" width="9" height="14" font="3">i)</text> <text top="1020" left="105" width="4" height="15" font="24"> </text> <text top="1019" left="149" width="645" height="16" font="3">Developing a composite template for Mining Companies by adding similar benefits from </text> <text top="1042" left="149" width="645" height="16" font="3">individual Mining Company templates e.g. royalty and dividend paid. This will be shown </text> <text top="1065" left="149" width="228" height="16" font="3">on company by company basis. </text> <text top="1089" left="149" width="5" height="16" font="3"> </text> </page> <page number="22" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">13 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="164" left="96" width="12" height="14" font="3">ii)</text> <text top="163" left="109" width="4" height="15" font="24"> </text> <text top="162" left="149" width="645" height="16" font="3">Providing disaggregated formats of payments and revenues by company, government </text> <text top="186" left="149" width="207" height="16" font="3">agency and revenue stream. </text> <text top="209" left="145" width="5" height="17" font="2"> </text> <text top="232" left="96" width="16" height="14" font="3">iii)</text> <text top="231" left="112" width="4" height="15" font="24"> </text> <text top="230" left="149" width="595" height="16" font="3">Indicating in detail the discrepancies produced by companies for a revenue stream. </text> <text top="253" left="96" width="5" height="16" font="3"> </text> <text top="293" left="96" width="16" height="14" font="3">iv)</text> <text top="292" left="112" width="4" height="15" font="24"> </text> <text top="291" left="149" width="645" height="16" font="3">Comparing consolidated Mining company template (i.e. Composite Mining template) with </text> <text top="314" left="149" width="164" height="16" font="3">Government template. </text> <text top="338" left="92" width="5" height="16" font="3"> </text> <text top="378" left="96" width="12" height="14" font="3">v)</text> <text top="376" left="109" width="4" height="15" font="24"> </text> <text top="376" left="149" width="645" height="16" font="3">Detailing all discrepancies including those that have been resolved and any unresolved </text> <text top="399" left="149" width="104" height="16" font="3">discrepancies. </text> <text top="422" left="92" width="5" height="16" font="3"> </text> <text top="462" left="96" width="16" height="14" font="3">vi)</text> <text top="461" left="112" width="4" height="15" font="24"> </text> <text top="460" left="149" width="588" height="16" font="3">Making adequate disclosures to enable users of the information undertake their </text> <text top="483" left="96" width="322" height="16" font="3"> own investigation of any discrepancy. </text> <text top="520" left="92" width="5" height="16" font="0"><b> </b></text> <text top="557" left="92" width="185" height="16" font="25"><b>5.0 RECONCILIATION </b></text> <text top="594" left="92" width="701" height="16" font="3">All the participating companies and District Assemblies submitted data. Reported government </text> <text top="616" left="92" width="642" height="16" font="3">receipts exceeded company payments for 2010 and 2011. (See Tables 7.1; 7.2; 8.1; 8.2). </text> <text top="653" left="92" width="516" height="16" font="3">Details of reconciliation results have been shown in sections 7.0 and 8.0 </text> <text top="690" left="92" width="5" height="16" font="3"> </text> <text top="730" left="92" width="492" height="16" font="11"><b>5.1 PRODUCTION/ROYALTY ANALYSIS/PRODUCTION COST. </b></text> <text top="767" left="92" width="508" height="16" font="3">Production of gold, bauxite and manganese maintained steady growth. </text> <text top="800" left="92" width="597" height="16" font="3">However some mines such as Anglogold Ashanti Obuasi and Golden Star Resources </text> <text top="823" left="92" width="700" height="16" font="3">Prestea/Bogoso recorded slowed production in the range of 18% and 26% respectively. Relatively </text> <text top="845" left="92" width="693" height="16" font="3">new mines such as Newmont Ghana Gold Ltd and Chirano Gold Mines Ltd maintained the growth </text> <text top="867" left="92" width="66" height="16" font="3">pattern. </text> <text top="905" left="92" width="4" height="16" font="17"> </text> <text top="943" left="92" width="4" height="16" font="17"> </text> <text top="980" left="92" width="4" height="16" font="17"> </text> <text top="1018" left="92" width="4" height="16" font="17"> </text> <text top="1056" left="92" width="4" height="16" font="17"> </text> </page> <page number="23" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="46" size="11" family="Times" color="#ffffff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">14 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="163" left="92" width="4" height="16" font="17"> </text> <text top="201" left="92" width="593" height="17" font="2">Table 5.1 shows production movements of the major gold mining companies</text> <text top="202" left="685" width="10" height="16" font="3">. </text> <text top="239" left="92" width="287" height="14" font="8"><i>Table 5.1: Mineral Production in 2010/2011 </i></text> <text top="261" left="100" width="33" height="18" font="46">MINE</text> <text top="262" left="100" width="33" height="18" font="46">MINE</text> <text top="262" left="100" width="33" height="18" font="46">MINE</text> <text top="261" left="100" width="37" height="18" font="46">MINE </text> <text top="261" left="423" width="29" height="18" font="46">2011</text> <text top="262" left="422" width="29" height="18" font="46">2011</text> <text top="262" left="423" width="29" height="18" font="46">2011</text> <text top="261" left="422" width="33" height="18" font="46">2011 </text> <text top="261" left="496" width="29" height="18" font="46">2010</text> <text top="262" left="495" width="29" height="18" font="46">2010</text> <text top="262" left="496" width="29" height="18" font="46">2010</text> <text top="261" left="495" width="33" height="18" font="46">2010 </text> <text top="261" left="580" width="62" height="18" font="46">% Change</text> <text top="262" left="580" width="62" height="18" font="46">% Change</text> <text top="262" left="580" width="62" height="18" font="46">% Change</text> <text top="261" left="580" width="65" height="18" font="46">% Change </text> <text top="308" left="100" width="110" height="18" font="5">Anglogold Ashanti </text> <text top="308" left="100" width="110" height="18" font="5">Anglogold Ashanti </text> <text top="308" left="100" width="110" height="18" font="5">Anglogold Ashanti </text> <text top="308" left="100" width="152" height="18" font="5">Anglogold Ashanti Obuasi</text> <text top="308" left="209" width="42" height="18" font="5">Obuasi</text> <text top="308" left="210" width="42" height="18" font="5">Obuasi</text> <text top="308" left="209" width="49" height="18" font="5">Obuasi </text> <text top="285" left="366" width="48" height="18" font="5"> </text> <text top="285" left="365" width="48" height="18" font="5"> </text> <text top="285" left="366" width="48" height="18" font="5"> </text> <text top="285" left="365" width="48" height="18" font="5"> </text> <text top="308" left="366" width="51" height="18" font="5">312,595 </text> <text top="308" left="365" width="51" height="18" font="5">312,595 </text> <text top="308" left="366" width="51" height="18" font="5">312,595 </text> <text top="308" left="365" width="55" height="18" font="5">312,595 </text> <text top="285" left="510" width="48" height="18" font="5"> </text> <text top="285" left="510" width="48" height="18" font="5"> </text> <text top="285" left="510" width="48" height="18" font="5"> </text> <text top="285" left="510" width="48" height="18" font="5"> </text> <text top="308" left="486" width="51" height="18" font="5">380,490 </text> <text top="308" left="486" width="51" height="18" font="5">380,490 </text> <text top="308" left="486" width="51" height="18" font="5">380,490 </text> <text top="308" left="486" width="55" height="18" font="5">380,490 </text> <text top="285" left="569" width="59" height="18" font="5"> </text> <text top="285" left="568" width="59" height="18" font="5"> </text> <text top="285" left="569" width="59" height="18" font="5"> </text> <text top="285" left="568" width="59" height="18" font="5"> </text> <text top="308" left="569" width="42" height="18" font="5">(17.84)</text> <text top="308" left="568" width="42" height="18" font="5">(17.84)</text> <text top="308" left="569" width="42" height="18" font="5">(17.84)</text> <text top="308" left="568" width="46" height="18" font="5">(17.84) </text> <text top="354" left="100" width="110" height="18" font="46">Anglogold Ashanti </text> <text top="355" left="100" width="110" height="18" font="46">Anglogold Ashanti </text> <text top="355" left="100" width="110" height="18" font="46">Anglogold Ashanti </text> <text top="354" left="100" width="169" height="18" font="46">Anglogold Ashanti Iduapriem</text> <text top="355" left="209" width="58" height="18" font="46">Iduapriem</text> <text top="355" left="210" width="58" height="18" font="46">Iduapriem</text> <text top="354" left="209" width="62" height="18" font="46">Iduapriem </text> <text top="332" left="366" width="48" height="18" font="46"> </text> <text top="332" left="365" width="48" height="18" font="46"> </text> <text top="332" left="366" width="48" height="18" font="46"> </text> <text top="332" left="365" width="48" height="18" font="46"> </text> <text top="354" left="366" width="51" height="18" font="46">195,650 </text> <text top="355" left="365" width="51" height="18" font="46">195,650 </text> <text top="355" left="366" width="51" height="18" font="46">195,650 </text> <text top="354" left="365" width="55" height="18" font="46">195,650 </text> <text top="332" left="510" width="48" height="18" font="46"> </text> <text top="332" left="510" width="48" height="18" font="46"> </text> <text top="332" left="510" width="48" height="18" font="46"> </text> <text top="332" left="510" width="48" height="18" font="46"> </text> <text top="354" left="486" width="51" height="18" font="46">190,442 </text> <text top="355" left="486" width="51" height="18" font="46">190,442 </text> <text top="355" left="486" width="51" height="18" font="46">190,442 </text> <text top="354" left="486" width="55" height="18" font="46">190,442 </text> <text top="332" left="569" width="73" height="18" font="46"> </text> <text top="332" left="568" width="73" height="18" font="46"> </text> <text top="332" left="569" width="73" height="18" font="46"> </text> <text top="332" left="568" width="73" height="18" font="46"> </text> <text top="354" left="569" width="29" height="18" font="46">2.73 </text> <text top="355" left="568" width="29" height="18" font="46">2.73 </text> <text top="355" left="569" width="29" height="18" font="46">2.73 </text> <text top="354" left="568" width="33" height="18" font="46">2.73 </text> <text top="401" left="100" width="28" height="18" font="5">Gold</text> <text top="401" left="100" width="28" height="18" font="5">Gold</text> <text top="401" left="100" width="28" height="18" font="5">Gold</text> <text top="401" left="100" width="71" height="18" font="5">Gold FFFFields </text> <text top="401" left="139" width="31" height="18" font="5">ields </text> <text top="401" left="139" width="31" height="18" font="5">ields </text> <text top="401" left="139" width="74" height="18" font="5">ields Tarkwa</text> <text top="401" left="170" width="43" height="18" font="5">Tarkwa</text> <text top="401" left="170" width="43" height="18" font="5">Tarkwa</text> <text top="401" left="170" width="47" height="18" font="5">Tarkwa </text> <text top="378" left="366" width="48" height="18" font="5"> </text> <text top="378" left="365" width="48" height="18" font="5"> </text> <text top="378" left="366" width="48" height="18" font="5"> </text> <text top="378" left="365" width="48" height="18" font="5"> </text> <text top="401" left="366" width="51" height="18" font="5">718,617 </text> <text top="401" left="365" width="51" height="18" font="5">718,617 </text> <text top="401" left="366" width="51" height="18" font="5">718,617 </text> <text top="401" left="365" width="55" height="18" font="5">718,617 </text> <text top="378" left="510" width="48" height="18" font="5"> </text> <text top="378" left="510" width="48" height="18" font="5"> </text> <text top="378" left="510" width="48" height="18" font="5"> </text> <text top="378" left="510" width="48" height="18" font="5"> </text> <text top="401" left="486" width="51" height="18" font="5">664,515 </text> <text top="401" left="486" width="51" height="18" font="5">664,515 </text> <text top="401" left="486" width="51" height="18" font="5">664,515 </text> <text top="401" left="486" width="55" height="18" font="5">664,515 </text> <text top="378" left="569" width="73" height="18" font="5"> </text> <text top="378" left="568" width="73" height="18" font="5"> </text> <text top="378" left="569" width="73" height="18" font="5"> </text> <text top="378" left="568" width="73" height="18" font="5"> </text> <text top="401" left="569" width="29" height="18" font="5">8.14 </text> <text top="401" left="568" width="29" height="18" font="5">8.14 </text> <text top="401" left="569" width="29" height="18" font="5">8.14 </text> <text top="401" left="568" width="33" height="18" font="5">8.14 </text> <text top="448" left="100" width="16" height="18" font="46">Ab</text> <text top="448" left="100" width="16" height="18" font="46">Ab</text> <text top="448" left="100" width="16" height="18" font="46">Ab</text> <text top="448" left="100" width="30" height="18" font="46">Abos</text> <text top="448" left="116" width="14" height="18" font="46">os</text> <text top="448" left="116" width="14" height="18" font="46">os</text> <text top="448" left="116" width="90" height="18" font="46">osssssoooo Goldfields</text> <text top="448" left="147" width="58" height="18" font="46">Goldfields</text> <text top="448" left="148" width="58" height="18" font="46">Goldfields</text> <text top="448" left="147" width="62" height="18" font="46">Goldfields </text> <text top="425" left="366" width="48" height="18" font="46"> </text> <text top="425" left="365" width="48" height="18" font="46"> </text> <text top="425" left="366" width="48" height="18" font="46"> </text> <text top="425" left="365" width="48" height="18" font="46"> </text> <text top="448" left="366" width="51" height="18" font="46">217,718 </text> <text top="448" left="365" width="51" height="18" font="46">217,718 </text> <text top="448" left="366" width="51" height="18" font="46">217,718 </text> <text top="448" left="365" width="55" height="18" font="46">217,718 </text> <text top="425" left="510" width="48" height="18" font="46"> </text> <text top="425" left="510" width="48" height="18" font="46"> </text> <text top="425" left="510" width="48" height="18" font="46"> </text> <text top="425" left="510" width="48" height="18" font="46"> </text> <text top="448" left="486" width="51" height="18" font="46">202,505 </text> <text top="448" left="486" width="51" height="18" font="46">202,505 </text> <text top="448" left="486" width="51" height="18" font="46">202,505 </text> <text top="448" left="486" width="55" height="18" font="46">202,505 </text> <text top="425" left="569" width="73" height="18" font="46"> </text> <text top="425" left="568" width="73" height="18" font="46"> </text> <text top="425" left="569" width="73" height="18" font="46"> </text> <text top="425" left="568" width="73" height="18" font="46"> </text> <text top="448" left="569" width="29" height="18" font="46">7.51 </text> <text top="448" left="568" width="29" height="18" font="46">7.51 </text> <text top="448" left="569" width="29" height="18" font="46">7.51 </text> <text top="448" left="568" width="33" height="18" font="46">7.51 </text> <text top="494" left="100" width="140" height="18" font="5">Golden Star Resources </text> <text top="494" left="100" width="140" height="18" font="5">Golden Star Resources </text> <text top="494" left="100" width="140" height="18" font="5">Golden Star Resources </text> <text top="494" left="100" width="185" height="18" font="5">Golden Star Resources Bogosu</text> <text top="494" left="240" width="45" height="18" font="5">Bogosu</text> <text top="494" left="240" width="45" height="18" font="5">Bogosu</text> <text top="494" left="240" width="94" height="18" font="5">Bogosu/Prestea</text> <text top="494" left="285" width="49" height="18" font="5">/Prestea</text> <text top="494" left="285" width="49" height="18" font="5">/Prestea</text> <text top="494" left="285" width="53" height="18" font="5">/Prestea </text> <text top="471" left="366" width="48" height="18" font="5"> </text> <text top="471" left="365" width="48" height="18" font="5"> </text> <text top="471" left="366" width="48" height="18" font="5"> </text> <text top="471" left="365" width="48" height="18" font="5"> </text> <text top="494" left="366" width="51" height="18" font="5">139,533 </text> <text top="494" left="365" width="51" height="18" font="5">139,533 </text> <text top="494" left="366" width="51" height="18" font="5">139,533 </text> <text top="494" left="365" width="55" height="18" font="5">139,533 </text> <text top="471" left="510" width="48" height="18" font="5"> </text> <text top="471" left="510" width="48" height="18" font="5"> </text> <text top="471" left="510" width="48" height="18" font="5"> </text> <text top="471" left="510" width="48" height="18" font="5"> </text> <text top="494" left="486" width="51" height="18" font="5">189,055 </text> <text top="494" left="486" width="51" height="18" font="5">189,055 </text> <text top="494" left="486" width="51" height="18" font="5">189,055 </text> <text top="494" left="486" width="55" height="18" font="5">189,055 </text> <text top="471" left="569" width="59" height="18" font="5"> </text> <text top="471" left="568" width="59" height="18" font="5"> </text> <text top="471" left="569" width="59" height="18" font="5"> </text> <text top="471" left="568" width="59" height="18" font="5"> </text> <text top="494" left="569" width="42" height="18" font="5">(26.19)</text> <text top="494" left="568" width="42" height="18" font="5">(26.19)</text> <text top="494" left="569" width="42" height="18" font="5">(26.19)</text> <text top="494" left="568" width="46" height="18" font="5">(26.19) </text> <text top="541" left="100" width="140" height="18" font="46">Golden Star Resources </text> <text top="541" left="100" width="140" height="18" font="46">Golden Star Resources </text> <text top="541" left="100" width="140" height="18" font="46">Golden Star Resources </text> <text top="541" left="100" width="181" height="18" font="46">Golden Star Resources Wassa</text> <text top="541" left="240" width="40" height="18" font="46">Wassa</text> <text top="541" left="240" width="40" height="18" font="46">Wassa</text> <text top="541" left="240" width="44" height="18" font="46">Wassa </text> <text top="518" left="366" width="48" height="18" font="46"> </text> <text top="518" left="365" width="48" height="18" font="46"> </text> <text top="518" left="366" width="48" height="18" font="46"> </text> <text top="518" left="365" width="48" height="18" font="46"> </text> <text top="541" left="366" width="51" height="18" font="46">160,616 </text> <text top="541" left="365" width="51" height="18" font="46">160,616 </text> <text top="541" left="366" width="51" height="18" font="46">160,616 </text> <text top="541" left="365" width="55" height="18" font="46">160,616 </text> <text top="518" left="510" width="48" height="18" font="46"> </text> <text top="518" left="510" width="48" height="18" font="46"> </text> <text top="518" left="510" width="48" height="18" font="46"> </text> <text top="518" left="510" width="48" height="18" font="46"> </text> <text top="541" left="486" width="51" height="18" font="46">219,138 </text> <text top="541" left="486" width="51" height="18" font="46">219,138 </text> <text top="541" left="486" width="51" height="18" font="46">219,138 </text> <text top="541" left="486" width="55" height="18" font="46">219,138 </text> <text top="518" left="569" width="59" height="18" font="46"> </text> <text top="518" left="568" width="59" height="18" font="46"> </text> <text top="518" left="569" width="59" height="18" font="46"> </text> <text top="518" left="568" width="59" height="18" font="46"> </text> <text top="541" left="569" width="42" height="18" font="46">(26.71)</text> <text top="541" left="568" width="42" height="18" font="46">(26.71)</text> <text top="541" left="569" width="42" height="18" font="46">(26.71)</text> <text top="541" left="568" width="46" height="18" font="46">(26.71) </text> <text top="587" left="100" width="56" height="18" font="5">Newmont</text> <text top="587" left="100" width="56" height="18" font="5">Newmont</text> <text top="587" left="100" width="56" height="18" font="5">Newmont</text> <text top="587" left="100" width="99" height="18" font="5">Newmont Ghana</text> <text top="587" left="159" width="40" height="18" font="5">Ghana</text> <text top="587" left="159" width="40" height="18" font="5">Ghana</text> <text top="587" left="159" width="71" height="18" font="5">Ghana Gold</text> <text top="587" left="202" width="28" height="18" font="5">Gold</text> <text top="587" left="202" width="28" height="18" font="5">Gold</text> <text top="587" left="202" width="50" height="18" font="5">Gold Ltd</text> <text top="587" left="233" width="18" height="18" font="5">Ltd</text> <text top="587" left="234" width="18" height="18" font="5">Ltd</text> <text top="587" left="233" width="22" height="18" font="5">Ltd </text> <text top="564" left="366" width="48" height="18" font="5"> </text> <text top="564" left="365" width="48" height="18" font="5"> </text> <text top="564" left="366" width="48" height="18" font="5"> </text> <text top="564" left="365" width="48" height="18" font="5"> </text> <text top="587" left="366" width="51" height="18" font="5">566,285 </text> <text top="587" left="365" width="51" height="18" font="5">566,285 </text> <text top="587" left="366" width="51" height="18" font="5">566,285 </text> <text top="587" left="365" width="55" height="18" font="5">566,285 </text> <text top="564" left="510" width="48" height="18" font="5"> </text> <text top="564" left="510" width="48" height="18" font="5"> </text> <text top="564" left="510" width="48" height="18" font="5"> </text> <text top="564" left="510" width="48" height="18" font="5"> </text> <text top="587" left="486" width="51" height="18" font="5">532,595 </text> <text top="587" left="486" width="51" height="18" font="5">532,595 </text> <text top="587" left="486" width="51" height="18" font="5">532,595 </text> <text top="587" left="486" width="55" height="18" font="5">532,595 </text> <text top="564" left="569" width="73" height="18" font="5"> </text> <text top="564" left="568" width="73" height="18" font="5"> </text> <text top="564" left="569" width="73" height="18" font="5"> </text> <text top="564" left="568" width="73" height="18" font="5"> </text> <text top="587" left="569" width="29" height="18" font="5">6.33 </text> <text top="587" left="568" width="29" height="18" font="5">6.33 </text> <text top="587" left="569" width="29" height="18" font="5">6.33 </text> <text top="587" left="568" width="33" height="18" font="5">6.33 </text> <text top="634" left="100" width="46" height="18" font="46">Chirano</text> <text top="634" left="100" width="46" height="18" font="46">Chirano</text> <text top="634" left="100" width="46" height="18" font="46">Chirano</text> <text top="634" left="100" width="117" height="18" font="46">Chirano Gold Mines</text> <text top="634" left="149" width="67" height="18" font="46">Gold Mines</text> <text top="634" left="150" width="67" height="18" font="46">Gold Mines</text> <text top="634" left="149" width="89" height="18" font="46">Gold Mines Ltd</text> <text top="634" left="220" width="18" height="18" font="46">Ltd</text> <text top="634" left="220" width="18" height="18" font="46">Ltd</text> <text top="634" left="220" width="22" height="18" font="46">Ltd </text> <text top="611" left="366" width="48" height="18" font="46"> </text> <text top="611" left="365" width="48" height="18" font="46"> </text> <text top="611" left="366" width="48" height="18" font="46"> </text> <text top="611" left="365" width="48" height="18" font="46"> </text> <text top="634" left="366" width="51" height="18" font="46">261,903 </text> <text top="634" left="365" width="51" height="18" font="46">261,903 </text> <text top="634" left="366" width="51" height="18" font="46">261,903 </text> <text top="634" left="365" width="55" height="18" font="46">261,903 </text> <text top="611" left="510" width="48" height="18" font="46"> </text> <text top="611" left="510" width="48" height="18" font="46"> </text> <text top="611" left="510" width="48" height="18" font="46"> </text> <text top="611" left="510" width="48" height="18" font="46"> </text> <text top="634" left="486" width="51" height="18" font="46">177,816 </text> <text top="634" left="486" width="51" height="18" font="46">177,816 </text> <text top="634" left="486" width="51" height="18" font="46">177,816 </text> <text top="634" left="486" width="55" height="18" font="46">177,816 </text> <text top="611" left="569" width="62" height="18" font="46"> </text> <text top="611" left="568" width="62" height="18" font="46"> </text> <text top="611" left="569" width="62" height="18" font="46"> </text> <text top="611" left="568" width="62" height="18" font="46"> </text> <text top="634" left="569" width="37" height="18" font="46">47.29 </text> <text top="634" left="568" width="37" height="18" font="46">47.29 </text> <text top="634" left="569" width="37" height="18" font="46">47.29 </text> <text top="634" left="568" width="41" height="18" font="46">47.29 </text> <text top="680" left="100" width="52" height="18" font="5">Adamus </text> <text top="680" left="100" width="52" height="18" font="5">Adamus </text> <text top="680" left="100" width="52" height="18" font="5">Adamus </text> <text top="680" left="100" width="115" height="18" font="5">Adamus Resources</text> <text top="680" left="152" width="63" height="18" font="5">Resources</text> <text top="680" left="152" width="63" height="18" font="5">Resources</text> <text top="680" left="152" width="67" height="18" font="5">Resources </text> <text top="657" left="366" width="55" height="18" font="5"> </text> <text top="657" left="365" width="55" height="18" font="5"> </text> <text top="657" left="366" width="55" height="18" font="5"> </text> <text top="657" left="365" width="55" height="18" font="5"> </text> <text top="680" left="366" width="44" height="18" font="5">90,026 </text> <text top="680" left="365" width="44" height="18" font="5">90,026 </text> <text top="680" left="366" width="44" height="18" font="5">90,026 </text> <text top="680" left="365" width="48" height="18" font="5">90,026 </text> <text top="657" left="510" width="88" height="18" font="5"> </text> <text top="657" left="510" width="88" height="18" font="5"> </text> <text top="657" left="510" width="88" height="18" font="5"> </text> <text top="657" left="510" width="88" height="18" font="5"> </text> <text top="680" left="508" width="15" height="18" font="5">---- </text> <text top="680" left="512" width="11" height="18" font="5"> </text> <text top="680" left="512" width="11" height="18" font="5"> </text> <text top="680" left="512" width="15" height="18" font="5"> </text> <text top="657" left="569" width="88" height="18" font="5"> </text> <text top="657" left="568" width="88" height="18" font="5"> </text> <text top="657" left="569" width="88" height="18" font="5"> </text> <text top="657" left="568" width="88" height="18" font="5"> </text> <text top="680" left="569" width="15" height="18" font="5">---- </text> <text top="680" left="573" width="11" height="18" font="5"> </text> <text top="680" left="573" width="11" height="18" font="5"> </text> <text top="680" left="573" width="15" height="18" font="5"> </text> <text top="727" left="92" width="230" height="14" font="8"><i>SOURCE: MINERALS COMMISSION. </i></text> <text top="764" left="92" width="4" height="14" font="3"> </text> </page> <page number="24" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="47" size="12" family="Times" color="#3232ff"/> <fontspec id="48" size="12" family="Times" color="#3232ff"/> <fontspec id="49" size="24" family="Times" color="#3232ff"/> <text top="107" left="92" width="669" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011</i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="1142" left="92" width="4" height="14" font="3"> </text> <text top="546" left="92" width="4" height="14" font="3"> </text> <text top="583" left="92" width="4" height="14" font="3"> </text> <text top="620" left="92" width="46" height="14" font="3">Fig 5.1 </text> <text top="378" left="179" width="4" height="13" font="12">-</text> <text top="360" left="142" width="51" height="13" font="12">100,000 </text> <text top="341" left="142" width="51" height="13" font="12">200,000 </text> <text top="323" left="142" width="51" height="13" font="12">300,000 </text> <text top="305" left="142" width="51" height="13" font="12">400,000 </text> <text top="287" left="142" width="51" height="13" font="12">500,000 </text> <text top="268" left="142" width="51" height="13" font="12">600,000 </text> <text top="250" left="142" width="51" height="13" font="12">700,000 </text> <text top="232" left="142" width="51" height="13" font="12">800,000 </text> <text top="347" left="124" width="0" height="13" font="47"><b>P</b></text> <text top="340" left="124" width="0" height="13" font="47"><b>ro</b></text> <text top="326" left="124" width="0" height="13" font="47"><b>d</b></text> <text top="318" left="124" width="0" height="13" font="47"><b>u</b></text> <text top="311" left="124" width="0" height="13" font="47"><b>ct</b></text> <text top="299" left="124" width="0" height="13" font="47"><b>io</b></text> <text top="288" left="124" width="0" height="13" font="47"><b>n</b></text> <text top="280" left="124" width="0" height="13" font="47"><b> (</b></text> <text top="273" left="124" width="0" height="13" font="47"><b>o</b></text> <text top="265" left="124" width="0" height="13" font="47"><b>z)</b></text> <text top="181" left="226" width="364" height="15" font="11"><b>Fig 5: Analysis of Gold Production by Mines 2010/2011</b></text> <text top="1014" left="279" width="96" height="13" font="48"><b>Bogoso/Prestea</b></text> <text top="1031" left="305" width="51" height="13" font="48"><b>139,533 </b></text> <text top="969" left="208" width="39" height="13" font="48"><b>Wassa</b></text> <text top="987" left="205" width="51" height="13" font="48"><b>160,616 </b></text> <text top="1005" left="219" width="18" height="13" font="48"><b>6%</b></text> <text top="850" left="197" width="64" height="13" font="48"><b>Newmont </b></text> <text top="868" left="205" width="51" height="13" font="48"><b>566,285 </b></text> <text top="885" left="215" width="25" height="13" font="48"><b>21%</b></text> <text top="707" left="301" width="47" height="13" font="48"><b>Chirano</b></text> <text top="725" left="302" width="51" height="13" font="48"><b>261,903 </b></text> <text top="743" left="312" width="25" height="13" font="48"><b>10%</b></text> <text top="662" left="264" width="408" height="24" font="49"><b>Gold Production(oz) by mines in 2011</b></text> <text top="107" left="184" width="577" height="15" font="15"><i>Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011</i></text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="487" left="388" width="31" height="13" font="48"><b>Mine</b></text> <text top="181" left="226" width="364" height="15" font="11"><b>Fig 5: Analysis of Gold Production by Mines 2010/2011</b></text> <text top="676" left="482" width="42" height="13" font="48"><b>Obuasi</b></text> <text top="694" left="480" width="51" height="13" font="48"><b>312,595 </b></text> <text top="712" left="490" width="25" height="13" font="48"><b>12%</b></text> <text top="717" left="609" width="63" height="13" font="48"><b>Iduapriem</b></text> <text top="735" left="618" width="51" height="13" font="48"><b>195,650 </b></text> <text top="811" left="624" width="45" height="13" font="48"><b>Tarkwa</b></text> <text top="829" left="624" width="51" height="13" font="48"><b>718,617 </b></text> <text top="1027" left="397" width="50" height="13" font="48"><b>Damang</b></text> <text top="1045" left="400" width="51" height="13" font="48"><b>217,718 </b></text> <text top="1063" left="413" width="18" height="13" font="48"><b>8%</b></text> <text top="1014" left="279" width="96" height="13" font="48"><b>Bogoso/Prestea</b></text> <text top="1031" left="305" width="51" height="13" font="48"><b>139,533 </b></text> <text top="1049" left="319" width="18" height="13" font="48"><b>5%</b></text> <text top="707" left="301" width="47" height="13" font="48"><b>Chirano</b></text> <text top="725" left="302" width="51" height="13" font="48"><b>261,903 </b></text> <text top="743" left="312" width="25" height="13" font="48"><b>10%</b></text> <text top="670" left="363" width="53" height="13" font="48"><b>Adamus </b></text> <text top="688" left="368" width="44" height="13" font="48"><b>90,026 </b></text> <text top="706" left="378" width="18" height="13" font="48"><b>4%</b></text> <text top="678" left="467" width="4" height="13" font="48"><b>-</b></text> <text top="695" left="458" width="18" height="13" font="48"><b>0%</b></text> <text top="662" left="264" width="408" height="24" font="49"><b>Gold Production(oz) by mines in 2011</b></text> <text top="107" left="184" width="581" height="15" font="15"><i>Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="1122" left="772" width="20" height="14" font="3">15 </text> <text top="513" left="679" width="4" height="14" font="3"> </text> <text top="1068" left="775" width="4" height="14" font="3"> </text> <text top="354" left="635" width="30" height="13" font="12">2011</text> <text top="380" left="635" width="30" height="13" font="12">2010</text> <text top="717" left="609" width="63" height="13" font="48"><b>Iduapriem</b></text> <text top="735" left="618" width="51" height="13" font="48"><b>195,650 </b></text> <text top="753" left="631" width="18" height="13" font="48"><b>7%</b></text> <text top="811" left="624" width="45" height="13" font="48"><b>Tarkwa</b></text> <text top="829" left="624" width="51" height="13" font="48"><b>718,617 </b></text> <text top="846" left="633" width="25" height="13" font="48"><b>27%</b></text> <text top="662" left="264" width="408" height="24" font="49"><b>Gold Production(oz) by mines in 2011</b></text> </page> <page number="25" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="50" size="8" family="Times" color="#000000"/> <fontspec id="51" size="15" family="Times" color="#ffffff"/> <fontspec id="52" size="15" family="Times" color="#3232ff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">16 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="684" height="16" font="3">Gold Fields Tarkwa continues to capture the largest production share in Ghana, closely followed </text> <text top="185" left="92" width="214" height="16" font="3">by Newmont Ghana Gold Ltd. </text> <text top="225" left="92" width="328" height="16" font="11"><b>5.2 PRODUCTION/ ROYALTY ANALYSIS. </b></text> <text top="261" left="92" width="590" height="16" font="3">The analyses of production and royalty payments have been shown in Appendix 4. </text> <text top="298" left="92" width="669" height="16" font="3">The production figures used are those that correspond to the quarterly payments of royalties. </text> <text top="336" left="92" width="302" height="17" font="19"><b>5.3 OPERATING COSTS ANALYSIS </b></text> <text top="374" left="92" width="492" height="16" font="3">Mining companies had not submitted their returns for operating costs</text> <text top="371" left="584" width="5" height="10" font="50">ii</text> <text top="374" left="588" width="114" height="16" font="3"> and cash costs </text> <text top="396" left="92" width="690" height="16" font="3">determination at the time of finalizing this report. As a result the Reconciler largely depended on </text> <text top="419" left="92" width="329" height="16" font="3">Mineral Commission&#8217;s uncorroborated report. </text> <text top="454" left="92" width="442" height="15" font="27"><b> Table 5.2 Revenue vrs Operating/Cash costs guide (2010) </b></text> <text top="476" left="100" width="33" height="18" font="46">MINE</text> <text top="476" left="100" width="33" height="18" font="46">MINE</text> <text top="476" left="100" width="33" height="18" font="46">MINE</text> <text top="476" left="100" width="37" height="18" font="46">MINE </text> <text top="476" left="366" width="75" height="18" font="46">Cash cost($)</text> <text top="476" left="365" width="75" height="18" font="46">Cash cost($)</text> <text top="476" left="366" width="75" height="18" font="46">Cash cost($)</text> <text top="476" left="365" width="79" height="18" font="46">Cash cost($) </text> <text top="476" left="473" width="95" height="18" font="46">Operating Costs</text> <text top="476" left="472" width="95" height="18" font="46">Operating Costs</text> <text top="476" left="473" width="95" height="18" font="46">Operating Costs</text> <text top="476" left="472" width="99" height="18" font="46">Operating Costs </text> <text top="476" left="608" width="61" height="18" font="46">Revenue (</text> <text top="476" left="607" width="61" height="18" font="46">Revenue (</text> <text top="476" left="608" width="61" height="18" font="46">Revenue (</text> <text top="476" left="607" width="73" height="18" font="46">Revenue ($)</text> <text top="476" left="668" width="12" height="18" font="46">$)</text> <text top="476" left="668" width="12" height="18" font="46">$)</text> <text top="476" left="668" width="16" height="18" font="46">$) </text> <text top="520" left="100" width="109" height="16" font="17">Ghana Bauxite </text> <text top="500" left="365" width="44" height="16" font="17"> </text> <text top="520" left="365" width="79" height="16" font="17">1,528,471 </text> <text top="520" left="520" width="18" height="16" font="17"> </text> <text top="500" left="589" width="31" height="16" font="17"> </text> <text top="520" left="589" width="109" height="16" font="17">15,330,258.67 </text> <text top="562" left="100" width="177" height="16" font="51">Chirano Gold Mines Ltd </text> <text top="541" left="365" width="31" height="16" font="51"> </text> <text top="562" left="365" width="88" height="16" font="51">15,201,800 </text> <text top="562" left="520" width="18" height="16" font="51"> </text> <text top="541" left="589" width="18" height="16" font="51"> </text> <text top="562" left="589" width="118" height="16" font="51">324,915,700.00 </text> <text top="603" left="100" width="215" height="16" font="17">Anglogold Ashanti Iduapriem </text> <text top="582" left="365" width="31" height="16" font="17"> </text> <text top="603" left="365" width="88" height="16" font="17">13,914,995 </text> <text top="603" left="520" width="18" height="16" font="17"> </text> <text top="582" left="589" width="18" hei ght="16" font="17"> </text> <text top="603" left="589" width="118" height="16" font="17">304,254,333.33 </text> <text top="644" left="100" width="195" height="16" font="51">Gold Fields Ghana Tarkwa </text> <text top="623" left="365" width="31" height="16" font="51"> </text> <text top="644" left="365" width="88" height="16" font="51">35,567,980 </text> <text top="644" left="520" width="18" height="16" font="51"> </text> <text top="623" left="589" width="18" height="16" font="51"> </text> <text top="644" left="589" width="118" height="16" font="51">803,106,678.00 </text> <text top="685" left="100" width="134" height="16" font="17">Ghana Manganese </text> <text top="685" left="365" width="18" height="16" font="17"> </text> <text top="664" left="520" width="66" height="16" font="17"> </text> <text top="685" left="485" width="79" height="16" font="17">6,703,428 </text> <text top="664" left="589" width="18" height="16" font="17"> </text> <text top="685" left="589" width="118" height="16" font="17">148,568,283.33 </text> <text top="726" left="100" width="63" height="16" font="51">Adamus </text> <text top="706" left="365" width="44" height="16" font="51"> </text> <text top="726" left="365" width="79" height="16" font="51">5,049,113 </text> <text top="726" left="520" width="18" height="16" font="51"> </text> <text top="706" left="589" width="18" height="16" font="51"> </text> <text top="726" left="589" width="118" height="16" font="51">149,553,968.67 </text> <text top="767" left="100" width="89" height="16" font="17">GSR Wassa </text> <text top="767" left="365" width="18" height="16" font="17"> </text> <text top="747" left="520" width="57" height="16" font="17"> </text> <text top="767" left="481" width="88" height="16" font="17">12,783,182 </text> <text top="747" left="589" width="18" height="16" font="17"> </text> <text top="767" left="589" width="118" height="16" font="17">330,501,993.33 </text> <text top="808" left="100" width="196" height="16" font="51">Newmont Ghana Gold Ltd </text> <text top="808" left="365" width="18" height="16" font="51"> </text> <text top="808" left="520" width="18" height="16" font="51"> </text> <text top="788" left="589" width="18" height="16" font="51"> </text> <text top="808" left="589" width="118" height="16" font="51">912,415,110.67 </text> <text top="849" left="100" width="140" height="16" font="17">Abosso Goldfields </text> <text top="849" left="365" width="18" height="16" font="17"> </text> <text top="828" left="520" width="57" height="16" font="17"> </text> <text top="849" left="481" width="88" height="16" font="17">12,257,990 </text> <text top="828" left="589" width="18" height="16" font="17"> </text> <text top="849" left="589" width="118" height="16" font="17">235,875,968.00 </text> <text top="870" left="92" width="466" height="16" font="52"><i>Source: Minerals Commission/Boas and Associates compilations. </i></text> <text top="907" left="92" width="4" height="16" font="17"> </text> <text top="945" left="92" width="4" height="16" font="17"> </text> <text top="983" left="92" width="4" height="16" font="17"> </text> <text top="1021" left="92" width="4" height="16" font="17"> </text> <text top="1058" left="92" width="4" height="16" font="17"> </text> </page> <page number="26" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">17 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="161" left="92" width="438" height="15" font="27"><b>Table 5.3 Revenue vrs Operating/Cash costs guide (2011) </b></text> <text top="182" left="100" width="33" height="18" font="46">MINE</text> <text top="183" left="100" width="33" height="18" font="46">MINE</text> <text top="183" left="100" width="33" height="18" font="46">MINE</text> <text top="182" left="100" width="37" height="18" font="46">MINE </text> <text top="182" left="366" width="75" height="18" font="46">Cash cost($)</text> <text top="183" left="365" width="75" height="18" font="46">Cash cost($)</text> <text top="183" left="366" width="75" height="18" font="46">Cash cost($)</text> <text top="182" left="365" width="79" height="18" font="46">Cash cost($) </text> <text top="182" left="471" width="62" height="18" font="46">Operating </text> <text top="183" left="471" width="62" height="18" font="46">Operating </text> <text top="183" left="471" width="62" height="18" font="46">Operating </text> <text top="182" left="471" width="99" height="18" font="46">Operating Costs</text> <text top="183" left="536" width="34" height="18" font="46">Costs</text> <text top="183" left="536" width="34" height="18" font="46">Costs</text> <text top="182" left="536" width="37" height="18" font="46">Costs </text> <text top="182" left="604" width="61" height="18" font="46">Revenue (</text> <text top="183" left="604" width="61" height="18" font="46">Revenue (</text> <text top="183" left="604" width="61" height="18" font="46">Revenue (</text> <text top="182" left="604" width="73" height="18" font="46">Revenue ($)</text> <text top="183" left="665" width="12" height="18" font="46">$)</text> <text top="183" left="665" width="12" height="18" font="46">$)</text> <text top="182" left="665" width="16" height="18" font="46">$) </text> <text top="227" left="100" width="109" height="16" font="17">Ghana Bauxite </text> <text top="227" left="365" width="48" height="16" font="17"> </text> <text top="227" left="503" width="83" height="16" font="17">1,528,471 </text> <text top="207" left="589" width="35" height="16" font="17"> </text> <text top="227" left="621" width="75" height="16" font="17">7,261,702 </text> <text top="268" left="100" width="177" height="16" font="51">Chirano Gold Mines Ltd </text> <text top="248" left="452" width="18" height="16" font="51"> </text> <text top="268" left="373" width="96" height="16" font="51">19,600,588 </text> <text top="268" left="520" width="18" height="16" font="51"> </text> <text top="248" left="691" width="22" height="16" font="51"> </text> <text top="268" left="604" width="92" height="16" font="51">201,365,978 </text> <text top="309" left="100" width="215" height="16" font="17">Anglogold Ashanti Iduapriem </text> <text top="309" left="365" width="39" height="16" font="17"> </text> <text top="309" left="494" width="92" height="16" font="17">19,506,021 </text> <text top="289" left="691" width="22" height="16" font="17"> </text> <text top="309" left="604" width="92" height="16" font="17">240,200,789 </text> <text top="350" left="100" width="203" height="16" font="51"> Gold Fields Ghana Tarkwa </text> <text top="330" left="452" width="31" height="16" font="51"> </text> <text top="350" left="373" width="83" height="16" font="51">35,567,980 </text> <text top="350" left="520" width="13" height="16" font="51"> </text> <text top="330" left="691" width="18" height="16" font="51"> </text> <text top="350" left="604" width="92" height="16" font="51">607,297,183 </text> <text top="373" left="100" width="134" height="16" font="17">Ghana Manganese </text> <text top="373" left="365" width="18" height="16" font="17"> </text> <text top="373" left="503" width="140" height="16" font="17">6,703,428 </text> <text top="373" left="589" width="105" height="16" font="17"> 70,374,457 </text> <text top="414" left="100" width="63" height="16" font="51">Adamus </text> <text top="394" left="452" width="48" height="16" font="51"> </text> <text top="414" left="382" width="74" height="16" font="51">5,508,123 </text> <text top="414" left="520" width="18" height="16" font="51"> </text> <text top="414" left="589" width="105" height="16" font="51"> 70,841,361 </text> <text top="455" left="100" width="89" height="16" font="17">GSR Wassa </text> <text top="455" left="365" width="18" height="16" font="17"> </text> <text top="455" left="494" width="136" height="16" font="17">12,783,182 </text> <text top="435" left="691" width="18" height="16" font="17"> </text> <text top="455" left="604" width="92" height="16" font="17">156,553,591 </text> <text top="478" left="365" width="18" height="16" font="51"> </text> <text top="478" left="520" width="18" height="16" font="51"> </text> <text top="478" left="589" width="22" height="16" font="51"> </text> <text top="519" left="100" width="140" height="16" font="17">Abosso Goldfields </text> <text top="519" left="365" width="18" height="16" font="17"> </text> <text top="519" left="494" width="136" height="16" font="17">12,257,990 </text> <text top="499" left="691" width="22" height="16" font="17"> </text> <text top="519" left="604" width="92" height="16" font="17">195,866,811 </text> <text top="540" left="92" width="218" height="16" font="52"><i>Source: Minerals Commission </i></text> <text top="577" left="92" width="5" height="16" font="0"><b> </b></text> <text top="614" left="92" width="4" height="14" font="3"> </text> <text top="651" left="92" width="4" height="14" font="3"> </text> <text top="688" left="92" width="4" height="14" font="3"> </text> <text top="726" left="92" width="4" height="14" font="3"> </text> <text top="763" left="92" width="4" height="14" font="3"> </text> <text top="800" left="92" width="4" height="14" font="3"> </text> <text top="837" left="92" width="4" height="14" font="3"> </text> <text top="874" left="92" width="4" height="14" font="3"> </text> <text top="911" left="92" width="4" height="14" font="3"> </text> <text top="948" left="92" width="4" height="14" font="3"> </text> <text top="985" left="92" width="4" height="14" font="3"> </text> <text top="1023" left="92" width="4" height="14" font="3"> </text> <text top="1060" left="92" width="4" height="14" font="3"> </text> </page> <page number="27" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="53" size="14" family="Times" color="#ffffff"/> <fontspec id="54" size="14" family="Times" color="#ffffff"/> <fontspec id="55" size="14" family="Symbol" color="#ffffff"/> <fontspec id="56" size="14" family="Helvetica" color="#ffffff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">18 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="176" height="16" font="25"><b>6.0 DISBURSEMENTS </b></text> <text top="199" left="92" width="702" height="16" font="3">The allocation of mineral royalty paid by mining companies is according to the formula indicated </text> <text top="222" left="92" width="47" height="16" font="3">below:</text> <text top="222" left="139" width="301" height="14" font="53"><i> Table 6.1: <b>Disbursement of Mineral Royalties</b></i></text> <text top="222" left="441" width="5" height="16" font="3"> </text> <text top="259" left="755" width="44" height="14" font="3"> </text> <text top="282" left="755" width="4" height="14" font="3"> </text> <text top="305" left="755" width="4" height="14" font="3"> </text> <text top="327" left="755" width="4" height="14" font="3"> </text> <text top="350" left="755" width="4" height="14" font="3"> </text> <text top="372" left="755" width="4" height="14" font="3"> </text> <text top="395" left="755" width="4" height="14" font="3"> </text> <text top="417" left="755" width="4" height="14" font="3"> </text> <text top="440" left="755" width="4" height="14" font="3"> </text> <text top="462" left="755" width="4" height="14" font="3"> </text> <text top="485" left="755" width="4" height="14" font="3"> </text> <text top="507" left="755" width="4" height="14" font="3"> </text> <text top="530" left="755" width="4" height="14" font="3"> </text> <text top="552" left="755" width="4" height="14" font="3"> </text> <text top="575" left="755" width="4" height="15" font="0"><b> </b></text> <text top="597" left="755" width="4" height="15" font="0"><b> </b></text> <text top="620" left="92" width="400" height="15" font="13"><i><b>Source: Administrative fiat of 1999(letter no.AB.85/156/01) </b></i></text> <text top="643" left="92" width="5" height="16" font="3"> </text> <text top="680" left="92" width="702" height="16" font="3">Thus District Assemblies, Traditional Authorities and Stools within the operational areas of mining </text> <text top="702" left="92" width="693" height="16" font="3">companies receive 4.95%, 1.80% and 2.25% respectively of royalties paid by mining companies. </text> <text top="740" left="92" width="6" height="20" font="7"><b> </b></text> <text top="783" left="92" width="6" height="20" font="7"><b> </b></text> <text top="826" left="92" width="6" height="20" font="7"><b> </b></text> <text top="869" left="92" width="6" height="20" font="7"><b> </b></text> <text top="911" left="92" width="4" height="14" font="3"> </text> <text top="948" left="92" width="4" height="14" font="3"> </text> <text top="985" left="92" width="4" height="14" font="3"> </text> <text top="1022" left="92" width="4" height="14" font="3"> </text> <text top="1059" left="92" width="4" height="14" font="3"> </text> <text top="271" left="102" width="76" height="14" font="3">Beneficiary </text> <text top="271" left="548" width="180" height="14" font="3">Share (%) of Total Amount. </text> <text top="293" left="102" width="236" height="15" font="25"><b>Government in Consolidated Fund </b></text> <text top="293" left="705" width="32" height="15" font="25"><b>80% </b></text> <text top="314" left="102" width="191" height="15" font="0"><b>Minerals Development fund </b></text> <text top="314" left="705" width="32" height="15" font="0"><b>10% </b></text> <text top="336" left="102" width="281" height="15" font="25"><b>Office of the Administrator of Stool Lands </b></text> <text top="336" left="443" width="93" height="14" font="26">10% 0f Total </text> <text top="355" left="443" width="57" height="14" font="26">Amount </text> <text top="336" left="548" width="4" height="15" font="25"><b> </b></text> <text top="373" left="102" width="8" height="23" font="44">&#8226;</text> <text top="378" left="111" width="5" height="16" font="45"> </text> <text top="379" left="129" width="303" height="15" font="0"><b>The Administrator of stool Lands takes 10% </b></text> <text top="398" left="129" width="17" height="15" font="0"><b>of </b></text> <text top="398" left="163" width="26" height="15" font="0"><b>the </b></text> <text top="398" left="206" width="56" height="15" font="0"><b>amount </b></text> <text top="398" left="279" width="61" height="15" font="0"><b>received </b></text> <text top="398" left="356" width="18" height="15" font="0"><b>to </b></text> <text top="398" left="391" width="40" height="15" font="0"><b>cover </b></text> <text top="418" left="129" width="170" height="15" font="0"><b>administrative expenses. </b></text> <text top="437" left="159" width="272" height="15" font="0"><b>The remaining 90% is distributed as </b></text> <text top="457" left="159" width="57" height="15" font="0"><b>follows. </b></text> <text top="376" left="443" width="4" height="14" font="3"> </text> <text top="376" left="713" width="23" height="15" font="0"><b>1% </b></text> <text top="474" left="181" width="7" height="21" font="55">&#8226;</text> <text top="479" left="189" width="4" height="15" font="56"> </text> <text top="479" left="208" width="130" height="15" font="25"><b>District Assemblies </b></text> <text top="478" left="505" width="31" height="14" font="26">55% </text> <text top="478" left="693" width="44" height="15" font="25"><b>4.95% </b></text> <text top="511" left="181" width="7" height="21" font="23">&#8226;</text> <text top="516" left="189" width="4" height="15" font="24"> </text> <text top="516" left="208" width="45" height="15" font="0"><b>Stools </b></text> <text top="515" left="505" width="31" height="14" font="3">25% </text> <text top="515" left="693" width="44" height="15" font="0"><b>2.25% </b></text> <text top="539" left="181" width="7" height="21" font="55">&#8226;</text> <text top="544" left="189" width="4" height="15" font="56"> </text> <text top="544" left="208" width="135" height="15" font="25"><b>Traditional Councils </b></text> <text top="543" left="505" width="31" height="14" font="26">20% </text> <text top="543" left="693" width="44" height="15" font="25"><b>1.80% </b></text> <text top="579" left="102" width="87" height="15" font="0"><b> TOTAL </b></text> <text top="599" left="102" width="4" height="15" font="0"><b> </b></text> <text top="579" left="443" width="4" height="15" font="0"><b> </b></text> <text top="579" left="697" width="40" height="15" font="0"><b>100% </b></text> </page> <page number="28" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="57" size="10" family="Times" color="#0000ff"/> <fontspec id="58" size="10" family="Times" color="#0000ff"/> <fontspec id="59" size="10" family="Times" color="#000000"/> <fontspec id="60" size="10" family="Times" color="#ffffff"/> <fontspec id="61" size="10" family="Times" color="#000000"/> <fontspec id="62" size="7" family="Helvetica" color="#000000"/> <fontspec id="63" size="8" family="Helvetica" color="#0000ff"/> <fontspec id="64" size="8" family="Helvetica" color="#0000ff"/> <fontspec id="65" size="8" family="Times" color="#000000"/> <fontspec id="66" size="8" family="Times" color="#ffffff"/> <fontspec id="67" size="8" family="Helvetica" color="#ffffff"/> <fontspec id="68" size="8" family="Helvetica" color="#000000"/> <fontspec id="69" size="8" family="Helvetica" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">19 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="163" left="92" width="6" height="20" font="7"><b> </b></text> <text top="205" left="92" width="269" height="16" font="25"><b>7.0: JANUARY - DECEMBER 2010 </b></text> <text top="245" left="92" width="235" height="16" font="11"><b>7.1 Results of reconciliation: </b></text> <text top="623" left="92" width="239" height="14" font="39">Source: Companies&#8217; Reporting Templates</text> <text top="623" left="331" width="4" height="13" font="5"> </text> <text top="1013" left="788" width="5" height="16" font="0"><b> </b></text> <text top="1031" left="92" width="302" height="14" font="39">Source: Government Agencies&#8217; Reporting Templates</text> <text top="1031" left="394" width="4" height="13" font="5"> </text> <text top="1064" left="131" width="5" height="17" font="18"> </text> <text top="269" left="94" width="37" height="13" font="57">Table 7.1 </text> <text top="269" left="348" width="143" height="13" font="58"><b>2010 RECONCILIATION REPORT</b></text> <text top="286" left="348" width="183" height="13" font="58"><b>PERIOD: JANUARY 2010-DECEMBER 2010</b></text> <text top="303" left="94" width="100" height="13" font="58"><b>COMPANY PAYMENTS</b></text> <text top="303" left="348" width="146" height="13" font="58"><b>ALL AMOUNTS IN GHANA CEDIS</b></text> <text top="337" left="348" width="2" height="11" font="59"><b> </b></text> <text top="354" left="94" width="56" height="13" font="60"><b>COMPANIES</b></text> <text top="354" left="224" width="226" height="13" font="60"><b>LICENCE PROPERTY RATE GROUND RENT </b></text> <text top="354" left="435" width="345" height="13" font="60"><b> MINERAL ROYALTY CORPORATE TAX DIVIDEND TOTAL</b></text> <text top="404" left="94" width="97" height="13" font="61">Anglogold Ashanti-Obuasi</text> <text top="404" left="310" width="31" height="13" font="61">422,801</text> <text top="404" left="271" width="41" height="13" font="61"> </text> <text top="404" left="482" width="43" height="13" font="61">15,499,943</text> <text top="404" left="438" width="45" height="13" font="61"> </text> <text top="404" left="740" width="43" height="13" font="61">15,922,744</text> <text top="404" left="706" width="35" height="13" font="61"> </text> <text top="421" left="94" width="111" height="13" font="61">Anglogold Ashanti -Iduapriem</text> <text top="421" left="315" width="26" height="13" font="61">35,908</text> <text top="421" left="271" width="45" height="13" font="61"> </text> <text top="421" left="487" width="39" height="13" font="61">9,070,786</text> <text top="421" left="438" width="51" height="13" font="61"> </text> <text top="421" left="744" width="39" height="13" font="61">9,106,694</text> <text top="421" left="706" width="39" height="13" font="61"> </text> <text top="438" left="94" width="10" height="13" font="61">**</text> <text top="438" left="657" width="39" height="13" font="61">2,914,288</text> <text top="438" left="627" width="31" height="13" font="61"> </text> <text top="438" left="744" width="39" height="13" font="61">2,914,288</text> <text top="438" left="706" width="39" height="13" font="61"> </text> <text top="455" left="94" width="83" height="13" font="61">GSR(Prestea/Bogosu)</text> <text top="455" left="315" width="26" height="13" font="61">20,967</text> <text top="455" left="271" width="45" height="13" font="61"> </text> <text top="455" left="487" width="39" height="13" font="61">6,874,814</text> <text top="455" left="438" width="51" height="13" font="61"> </text> <text top="455" left="744" width="39" height="13" font="61">6,895,781</text> <text top="455" left="706" width="39" height="13" font="61"> </text> <text top="472" left="94" width="68" height="13" font="61">Ghana Bauxite Co.</text> <text top="472" left="315" width="26" height="13" font="61">11,576</text> <text top="472" left="271" width="45" height="13" font="61"> </text> <text top="472" left="487" width="39" height="13" font="59"><b>1,033,823</b></text> <text top="472" left="438" width="51" height="13" font="59"><b> </b></text> <text top="472" left="744" width="39" height="13" font="61">1,045,399</text> <text top="472" left="706" width="39" height="13" font="61"> </text> <text top="488" left="94" width="77" height="13" font="61">Ghana Manganse Co.</text> <text top="488" left="315" width="26" height="13" font="59"><b>31,698</b></text> <text top="488" left="271" width="45" height="13" font="59"><b> </b></text> <text top="488" left="487" width="39" height="13" font="61">3,764,674</text> <text top="488" left="438" width="51" height="13" font="61"> </text> <text top="488" left="579" width="39" height="13" font="61">7,560,048</text> <text top="488" left="536" width="45" height="13" font="61"> </text> <text top="490" left="666" width="30" height="9" font="62">832,542</text> <text top="490" left="627" width="41" height="9" font="62"> </text> <text top="488" left="740" width="43" height="13" font="61">12,188,962</text> <text top="488" left="706" width="35" height="13" font="61"> </text> <text top="505" left="94" width="76" height="13" font="61">Gold Fields -Tarkwa</text> <text top="505" left="482" width="43" height="13" font="61">36,139,824</text> <text top="505" left="438" width="45" height="13" font="61"> </text> <text top="505" left="574" width="43" height="13" font="61">78,650,353</text> <text top="505" left="536" width="39" height="13" font="61"> </text> <text top="505" left="735" width="48" height="13" font="61">114,790,177</text> <text top="505" left="706" width="31" height="13" font="61"> </text> <text top="522" left="94" width="83" height="13" font="61">Abosso Goldfields Ltd</text> <text top="522" left="482" width="43" height="13" font="61">15,619,076</text> <text top="522" left="438" width="45" height="13" font="61"> </text> <text top="522" left="574" width="43" height="13" font="61">32,611,150</text> <text top="522" left="536" width="39" height="13" font="61"> </text> <text top="522" left="740" width="43" height="13" font="61">48,230,226</text> <text top="522" left="706" width="35" height="13" font="61"> </text> <text top="539" left="94" width="44" height="13" font="61">GSR-Wassa</text> <text top="539" left="315" width="26" height="13" font="61">27,869</text> <text top="539" left="271" width="45" height="13" font="61"> </text> <text top="539" left="482" width="43" height="13" font="61">11,584,285</text> <text top="539" left="438" width="45" height="13" font="61"> </text> <text top="539" left="740" width="43" height="13" font="61">11,612,154</text> <text top="539" left="706" width="35" height="13" font="61"> </text> <text top="556" left="94" width="90" height="13" font="61">Chirano Gold Mines Ltd</text> <text top="556" left="315" width="26" height="13" font="59"><b>57,492</b></text> <text top="556" left="271" width="45" height="13" font="59"><b> </b></text> <text top="556" left="482" width="43" height="13" font="61">21,637,098</text> <text top="556" left="438" width="45" height="13" font="61"> </text> <text top="556" left="740" width="43" height="13" font="61">21,694,590</text> <text top="556" left="706" width="35" height="13" font="61"> </text> <text top="573" left="94" width="98" height="13" font="61">Newmont Gold Ghana Ltd</text> <text top="573" left="482" width="43" height="13" font="61">26,624,466</text> <text top="573" left="438" width="45" height="13" font="61"> </text> <text top="573" left="604" width="3" height="13" font="61">-</text> <text top="573" left="536" width="70" height="13" font="61"> </text> <text top="573" left="740" width="43" height="13" font="61">26,624,466</text> <text top="573" left="706" width="35" height="13" font="61"> </text> <text top="590" left="770" width="3" height="13" font="61">-</text> <text top="590" left="706" width="65" height="13" font="61"> </text> <text top="607" left="94" width="30" height="13" font="59"><b>TOTAL</b></text> <text top="607" left="248" width="4" height="13" font="59"><b>-</b></text> <text top="607" left="228" width="23" height="13" font="59"><b> </b></text> <text top="607" left="310" width="31" height="13" font="59"><b>608,311</b></text> <text top="607" left="271" width="41" height="13" font="59"><b> </b></text> <text top="607" left="415" width="4" height="13" font="59"><b>-</b></text> <text top="607" left="351" width="65" height="13" font="59"><b> </b></text> <text top="607" left="478" width="48" height="13" font="59"><b>147,848,789</b></text> <text top="607" left="438" width="41" height="13" font="59"><b> </b></text> <text top="607" left="569" width="48" height="13" font="59"><b>118,821,551</b></text> <text top="607" left="536" width="35" height="13" font="59"><b> </b></text> <text top="607" left="657" width="39" height="13" font="59"><b>3,746,830</b></text> <text top="607" left="627" width="31" height="13" font="59"><b> </b></text> <text top="607" left="735" width="48" height="13" font="59"><b>271,025,481</b></text> <text top="607" left="706" width="31" height="13" font="59"><b> </b></text> <text top="659" left="94" width="41" height="9" font="63">Table 7.2</text> <text top="659" left="303" width="168" height="9" font="64"><b>PERIOD: JANUARY-DECEMBER 2010.</b></text> <text top="675" left="303" width="143" height="9" font="64"><b>ALL AMOUNTS IN GHANA CEDIS</b></text> <text top="692" left="94" width="118" height="9" font="64"><b>GOVERNMENT RECEIPTS::</b></text> <text top="726" left="94" width="68" height="10" font="65"><b>GOVT AGENCY</b></text> <text top="726" left="234" width="54" height="10" font="65"><b>MIN.COMM</b></text> <text top="726" left="303" width="120" height="10" font="65"><b>MUN/DIST ASMBL OASL</b></text> <text top="726" left="468" width="17" height="10" font="65"><b>IRS</b></text> <text top="726" left="565" width="17" height="10" font="65"><b>IRS</b></text> <text top="726" left="651" width="27" height="10" font="65"><b>NTRU</b></text> <text top="760" left="94" width="51" height="9" font="66"><b>COMPANY</b></text> <text top="760" left="234" width="40" height="9" font="67"><b>LICENCE</b></text> <text top="760" left="303" width="78" height="9" font="67"><b>PROPERTY RATE</b></text> <text top="760" left="397" width="305" height="9" font="67"><b>GROUND RENT MINERAL ROYALTIES CORPORATE TAX DIVIDEND</b></text> <text top="760" left="721" width="31" height="9" font="67"><b>TOTAL</b></text> <text top="810" left="94" width="130" height="11" font="61">Anglogold Ashanti-Obuasi</text> <text top="810" left="351" width="38" height="11" font="61">424,600</text> <text top="810" left="307" width="46" height="11" font="61"> </text> <text top="810" left="506" width="52" height="10" font="68">17,360,307</text> <text top="810" left="471" width="35" height="10" font="68"> </text> <text top="810" left="733" width="50" height="9" font="68">17,784,907</text> <text top="810" left="724" width="10" height="9" font="68"> </text> <text top="826" left="94" width="150" height="11" font="61">Anglogold Ashanti -Iduapriem</text> <text top="826" left="365" width="28" height="10" font="50">65,000</text> <text top="826" left="511" width="46" height="10" font="68">9,070,786</text> <text top="826" left="471" width="42" height="10" font="68"> </text> <text top="827" left="599" width="44" height="9" font="68">8,557,346</text> <text top="827" left="568" width="32" height="9" font="68"> </text> <text top="827" left="733" width="50" height="9" font="68">17,693,132</text> <text top="827" left="724" width="10" height="9" font="68"> </text> <text top="843" left="94" width="17" height="11" font="61">***</text> <text top="844" left="669" width="44" height="9" font="68">2,976,370</text> <text top="844" left="654" width="17" height="9" font="68"> </text> <text top="844" left="738" width="44" height="9" font="68">2,976,370</text> <text top="844" left="724" width="15" height="9" font="68"> </text> <text top="860" left="94" width="103" height="11" font="61">GSR-Prestea/Bogosu</text> <text top="860" left="511" width="46" height="10" font="68">9,366,302</text> <text top="860" left="471" width="42" height="10" font="68"> </text> <text top="861" left="629" width="3" height="9" font="68">-</text> <text top="861" left="568" width="64" height="9" font="68"> </text> <text top="861" left="738" width="44" height="9" font="68">9,366,302</text> <text top="861" left="724" width="15" height="9" font="68"> </text> <text top="877" left="94" width="92" height="11" font="61">Ghana Bauxite CO.</text> <text top="878" left="513" width="44" height="10" font="50">1,033,823</text> <text top="878" left="471" width="44" height="10" font="50"> </text> <text top="878" left="629" width="3" height="9" font="68">-</text> <text top="878" left="568" width="64" height="9" font="68"> </text> <text top="878" left="738" width="44" height="9" font="68">1,033,823</text> <text top="878" left="724" width="15" height="9" font="68"> </text> <text top="894" left="94" width="103" height="11" font="61">Ghana Manganse Co.</text> <text top="895" left="358" width="31" height="9" font="68">31,697</text> <text top="895" left="307" width="54" height="9" font="68"> < /text> <text top="895" left="513" width="44" height="10" font="50">3,764,675</text> <text top="895" left="471" width="44" height="10" font="50"> </text> <text top="895" left="599" width="44" height="9" font="68">7,554,049</text> <text top="895" left="568" width="32" height="9" font="68"> </text> <text top="895" left="678" width="36" height="9" font="68">832,542</text> <text top="895" left="654" width="25" height="9" font="68"> </text> <text top="895" left="733" width="50" height="9" font="68">12,182,963</text> <text top="895" left="724" width="10" height="9" font="68"> </text> <text top="911" left="94" width="94" height="11" font="61">Goldfields -Tarkwa</text> <text top="911" left="360" width="33" height="10" font="50">308,754</text> <text top="912" left="507" width="50" height="10" font="50">43,747,093</text> <text top="912" left="471" width="39" height="10" font="50"> </text> <text top="912" left="593" width="50" height="9" font="68">78,650,353</text> <text top="912" left="568" width="27" height="9" font="68"> </text> <text top="912" left="664" width="50" height="9" font="68">14,342,500</text> <text top="912" left="654" width="12" height="9" font="68"> </text> <text top="912" left="727" width="56" height="9" font="68">137,048,700</text> <text top="912" left="724" width="5" height="9" font="68"> </text> <text top="928" left="94" width="112" height="11" font="61">Abosso Gold Fields Ltd</text> <text top="929" left="507" width="50" height="10" font="50">12,638,871</text> <text top="929" left="471" width="39" height="10" font="50"> </text> <text top="929" left="593" width="50" height="9" font="68">30,472,900</text> <text top="929" left="568" width="27" height="9" font="68"> </text> <text top="929" left="669" width="44" height="9" font="68">4,288,800</text> <text top="929" left="654" width="17" height="9" font="68"> </text> <text top="929" left="733" width="50" height="9" font="68">47,400,571</text> <text top="929" left="724" width="10" height="9" font="68"> </text> <text top="945" left="94" width="74" height="11" font="61">GSR(Wassa)Ltd</text> <text top="946" left="513" width="44" height="10" font="50">9,600,151</text> <text top="946" left="471" width="44" height="10" font="50"> </text> <text top="945" left="629" width="3" height="9" font="68">-</text> <text top="945" left="568" width="64" height="9" font="68"> </text> <text top="945" left="738" width="44" height="9" font="68">9,600,151</text> <text top="945" left="724" width="15" height="9" font="68"> </text> <text top="962" left="94" width="116" height="11" font="61">Chirano Gold Mines Ltd</text> <text top="961" left="506" width="52" height="10" font="68">17,247,431</text> <text top="961" left="471" width="35" height="10" font="68"> </text> <text top="962" left="613" width="30" height="9" font="68">15,085</text> <text top="962" left="568" width="46" height="9" font="68"> </text> <text top="962" left="733" width="50" height="9" font="68">17,262,516</text> <text top="962" left="724" width="10" height="9" font="68"> </text> <text top="978" left="94" width="128" height="11" font="61">Newmont Gold Ghana Ltd</text> <text top="978" left="506" width="52" height="10" font="68">26,624,466</text> <text top="978" left="471" width="35" height="10" font="68"> </text> <text top="979" left="629" width="3" height="9" font="68">-</text> <text top="979" left="568" width="64" height="9" font="68"> </text> <text top="979" left="733" width="50" height="9" font="68">26,624,466</text> <text top="979" left="724" width="10" height="9" font="68"> </text> <text top="996" left="768" width="3" height="9" font="68">-</text> <text top="996" left="724" width="46" height="9" font="68"> </text> <text top="1012" left="94" width="32" height="11" font="59"><b>TOTAL</b></text> <text top="1013" left="282" width="3" height="9" font="69"><b>-</b></text> <text top="1013" left="237" width="46" height="9" font="69"><b> </b></text> <text top="1013" left="353" width="36" height="9" font="69"><b>830,051</b></text> <text top="1013" left="307" width="49" height="9" font="69"><b> </b></text> <text top="1013" left="446" width="3" height="9" font="69"><b>-</b></text> <text top="1013" left="400" width="49" height="9" font="69"><b> </b></text> <text top="1013" left="502" width="56" height="9" font="69"><b>150,453,905</b></text> <text top="1013" left="471" width="32" height="9" font="69"><b> </b></text> <text top="1013" left="588" width="56" height="9" font="69"><b>125,249,733</b></text> <text top="1013" left="568" width="22" height="9" font="69"><b> </b></text> <text top="1013" left="664" width="50" height="9" font="69"><b>22,440,212</b></text> <text top="1013" left="654" width="12" height="9" font="69"><b> </b></text> <text top="1013" left="727" width="56" height="9" font="69"><b>298,973,901</b></text> <text top="1013" left="724" width="5" height="9" font="69"><b> </b></text> </page> <page number="29" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="70" size="15" family="Symbol" color="#3232ff"/> <fontspec id="71" size="11" family="Times" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">20 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="159" left="105" width="7" height="21" font="20">&#8226;</text> <text top="163" left="112" width="4" height="15" font="21"> </text> <text top="162" left="131" width="161" height="17" font="18">Mineral Right Licence: </text> <text top="199" left="92" width="623" height="16" font="0"><b> </b>No company reported mineral right licence payment for concessions under production. </text> <text top="233" left="105" width="8" height="23" font="70">&#8226;</text> <text top="238" left="113" width="5" height="16" font="28"> </text> <text top="236" left="131" width="109" height="18" font="29">Ground Rent. </text> <text top="257" left="92" width="288" height="16" font="3"> No ground rent payment was reported. </text> <text top="288" left="105" width="8" height="23" font="70">&#8226;</text> <text top="293" left="113" width="5" height="16" font="28"> </text> <text top="291" left="131" width="124" height="18" font="29">Mineral Royalty </text> <text top="313" left="92" width="592" height="17" font="3"> Mineral royalty payment reported by companies amounted to<b> </b>GHS 147,848,789. </text> <text top="350" left="92" width="436" height="16" font="3">However reported<b> </b>Government receipts was GHS150,453,905</text> <text top="352" left="528" width="12" height="13" font="71"><b>. </b></text> <text top="350" left="540" width="250" height="16" font="3">Reported payments and receipts </text> <text top="372" left="92" width="497" height="16" font="3">based on templates submitted by participating companies are shown. </text> <text top="373" left="589" width="7" height="14" font="35"><b>(</b></text> <text top="372" left="596" width="173" height="16" font="3">See Tables 7.1, 7.2 &amp; </text> <text top="394" left="92" width="35" height="16" font="3">Fig 7</text> <text top="395" left="127" width="6" height="14" font="37">)</text> <text top="394" left="132" width="5" height="16" font="3"> </text> <text top="427" left="112" width="8" height="23" font="70">&#8226;</text> <text top="433" left="120" width="5" height="16" font="28"> </text> <text top="431" left="138" width="117" height="18" font="29">Corporate tax: </text> <text top="452" left="92" width="10" height="16" font="3"> </text> <text top="489" left="92" width="696" height="16" font="3">Four companies reported corporate tax payments in the year 2010.These were Anglogold Ashanti </text> <text top="511" left="92" width="630" height="16" font="3">Iduapriem, Ghana Manganese Company Ltd, Gold Fields Ghana Ltd, Tarkwa and Abosso </text> <text top="534" left="92" width="678" height="16" font="3">Goldfields Ltd (see Table 7.1). Although Anglogold Iduapriem did not report of corporate tax in </text> <text top="556" left="92" width="660" height="16" font="3">the initial template, during the resolution of discrepancies, it reported the payment of GHS8, </text> <text top="578" left="92" width="204" height="16" font="3">567,348. (See Appendix 5A) </text> <text top="615" left="92" width="672" height="16" font="3">The reasons why the following companies did not pay corporate taxes included the following: </text> <text top="652" left="92" width="677" height="16" font="3">Golden Star Resources &#8211;Wassa Ltd had enough capital allowances and allowable deductions to </text> <text top="674" left="92" width="171" height="16" font="3">cover assessable profit. </text> <text top="711" left="92" width="652" height="16" font="3">Anglogold Ashanti Obuasi also had enough capital allowances to cover its assessable profit. </text> <text top="734" left="92" width="668" height="16" font="3">Anglogold Ashanti had Capital allowance carried forward of US$585,323,279 at the end 2010. </text> <text top="770" left="92" width="671" height="16" font="3">Chirano Gold Mines had capital allowances together with other deductions of US$130,809,019 </text> <text top="793" left="92" width="343" height="16" font="3">enough to set off against the assessable profit. </text> <text top="830" left="92" width="694" height="16" font="3"> Newmont Ghana Gold Ltd set off capital allowance of US$358,492,201 against assessable profits </text> <text top="852" left="92" width="147" height="16" font="3">of same magnitude. </text> <text top="889" left="92" width="674" height="16" font="3">Golden Star Resources (Prestea/Bogosu) set off US$20,736,783 of capital allowance and other </text> <text top="911" left="92" width="678" height="16" font="3">deductible allowances against its assessable income resulting in non-payment of corporate tax. </text> <text top="933" left="92" width="692" height="16" font="3">There was an unutilized capital allowance of US$396,939,651 for GSR Prestea Bogosu at the end </text> <text top="956" left="92" width="64" height="16" font="3">of 2010. </text> <text top="993" left="92" width="670" height="16" font="3">Ghana Bauxite did not pay corporate tax because it had a negative assessable income. Ghana </text> <text top="1015" left="92" width="643" height="16" font="3">Bauxite Ltd had capital allowance carried forward of US$10.029, 331 at the end of 2010. </text> <text top="1052" left="92" width="5" height="16" font="3"> </text> <text top="1089" left="92" width="5" height="16" font="3"> </text> </page> <page number="30" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="72" size="12" family="Times" color="#ffffff"/> <fontspec id="73" size="7" family="Times" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">21 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="159" left="118" width="8" height="23" font="70">&#8226;</text> <text top="164" left="126" width="5" height="16" font="28"> </text> <text top="162" left="145" width="87" height="18" font="29">Dividends: </text> <text top="201" left="92" width="590" height="16" font="3"> Government of Ghana shareholding in the participating companies is listed below: </text> <text top="238" left="92" width="642" height="16" font="3">Four companies including Anglogold Ashanti International paid dividends in 2010. In 2010 </text> <text top="260" left="92" width="697" height="16" font="3">Anglogold Ashanti International operated two mines (Anglogold Ashanti-Iduapriem and Anglogold </text> <text top="282" left="92" width="669" height="16" font="3">Ashanti-Obuasi) in Ghana. The other companies were Ghana Manganese Co. Ltd; Gold Fields </text> <text top="305" left="92" width="332" height="16" font="3">Ghana Ltd, Tarkwa and Abosso Goldfields Ltd.<b> </b></text> <text top="341" left="92" width="466" height="15" font="36">Table 7.3: Government shareholding in participating companies in 2010 </text> <text top="362" left="100" width="69" height="14" font="72">Company </text> <text top="362" left="316" width="99" height="14" font="72">GoG Shares % </text> <text top="398" left="100" width="129" height="14" font="37">Goldfields (Abosso) </text> <text top="398" left="316" width="20" height="14" font="37">10 </text> <text top="434" left="100" width="157" height="14" font="37">GSR ( Prestea/Bogosu) </text> <text top="434" left="316" width="20" height="14" font="37">10 </text> <text top="469" left="100" width="284" height="14" font="37">Gold Fields Ghana (Tarkwa) </text> <text top="469" left="316" width="20" height="14" font="37">10 </text> <text top="505" left="100" width="98" height="14" font="37">Ghana Bauxite </text> <text top="505" left="316" width="20" height="14" font="37">20 </text> <text top="541" left="100" width="123" height="14" font="37">Ghana Manganese </text> <text top="541" left="316" width="20" height="14" font="37">10 </text> <text top="576" left="100" width="120" height="14" font="37">Anglogold Ashanti </text> <text top="596" left="100" width="98" height="14" font="37">(International) </text> <text top="576" left="316" width="28" height="14" font="37">2.95</text> <text top="573" left="345" width="6" height="9" font="73">iii</text> <text top="576" left="351" width="5" height="14" font="37"> </text> <text top="632" left="100" width="84" height="14" font="37">GSR(Wassa) </text> <text top="632" left="316" width="20" height="14" font="37">10 </text> <text top="668" left="100" width="154" height="14" font="37">Chirano Gold Mines Ltd </text> <text top="668" left="316" width="20" height="14" font="37">10 </text> <text top="703" left="100" width="151" height="14" font="37">Adamus Resources Ltd </text> <text top="703" left="316" width="20" height="14" font="37">10 </text> <text top="739" left="100" width="171" height="14" font="72">Newmont Ghana Gold Ltd </text> <text top="739" left="316" width="21" height="14" font="72">Nil </text> <text top="774" left="92" width="239" height="15" font="36">Source: NTRU/Company information </text> </page> <page number="31" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="74" size="12" family="Times" color="#ffffff"/> <text top="107" left="92" width="669" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011</i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="1142" left="92" width="4" height="14" font="3"> </text> <text top="582" left="92" width="4" height="14" font="3"> </text> <text top="622" left="92" width="176" height="16" font="11"><b>7.2: DISCREPANCIES </b></text> <text top="645" left="92" width="4" height="15" font="0"><b> </b></text> <text top="667" left="92" width="531" height="15" font="27"><b>Table 7.4: 2010 Discrepancies between reported payments and receipts.</b></text> <text top="689" left="87" width="4" height="14" font="74"><b> </b></text> <text top="706" left="87" width="56" height="13" font="74"><b>Revenue </b></text> <text top="724" left="87" width="47" height="13" font="74"><b>Stream </b></text> <text top="689" left="172" width="69" height="14" font="72">Company </text> <text top="706" left="172" width="59" height="13" font="72">Reported </text> <text top="724" left="172" width="95" height="13" font="72">Payments(GHS) </text> <text top="742" left="172" width="12" height="13" font="72">A </text> <text top="689" left="284" width="79" height="14" font="72">Government</text> <text top="706" left="284" width="59" height="13" font="72">Reported </text> <text top="724" left="284" width="84" height="13" font="72">Receipts(GHS)</text> <text top="742" left="284" width="11" height="13" font="72">B </text> <text top="760" left="87" width="51" height="14" font="72">Mineral </text> <text top="778" left="87" width="38" height="14" font="72">Right </text> <text top="796" left="87" width="52" height="14" font="72">Licence </text> <text top="760" left="172" width="12" height="14" font="37">0 </text> <text top="760" left="284" width="12" height="14" font="37">0 </text> <text top="814" left="87" width="59" height="14" font="72">Property </text> <text top="832" left="87" width="34" height="14" font="72">Rate </text> <text top="845" left="172" width="97" height="15" font="37"> 608,311 </text> <text top="828" left="284" width="59" height="15" font="37"> </text> <text top="845" left="284" width="48" height="15" font="37">830,051 </text> <text top="865" left="87" width="51" height="14" font="72">Mineral </text> <text top="883" left="87" width="52" height="14" font="72">Royalty </text> <text top="896" left="172" width="72" height="15" font="37">147,848,789 </text> <text top="880" left="284" width="33" height="15" font="37"> </text> <text top="896" left="284" width="72" height="15" font="37">150,453,905 </text> <text top="916" left="87" width="56" height="14" font="72">Ground </text> <text top="933" left="87" width="34" height="14" font="72">Rent </text> <text top="916" left="172" width="12" height="14" font="37">0 </text> <text top="916" left="284" width="12" height="14" font="37">0 </text> <text top="952" left="87" width="68" height="14" font="72">Corporate </text> <text top="969" left="87" width="33" height="14" font="72">Tax </text> <text top="983" left="172" width="94" height="15" font="35"><b> 118,821,551 </b></text> <text top="966" left="284" width="33" height="15" font="35"><b> </b></text> <text top="983" left="284" width="71" height="15" font="35"><b>125,249,733 </b></text> <text top="1003" left="87" width="67" height="14" font="72">Dividends </text> <text top="1034" left="172" width="97" height="15" font="35"><b> 3,746,830 </b></text> <text top="1017" left="284" width="39" height="15" font="35"><b> </b></text> <text top="1034" left="284" width="64" height="15" font="35"><b>22,440,212 </b></text> <text top="1054" left="87" width="41" height="14" font="74"><b>Total </b></text> <text top="1052" left="172" width="71" height="15" font="35"><b>271,025,481 </b></text> <text top="1052" left="284" width="69" height="15" font="37">298,973,901</text> <text top="1087" left="92" width="393" height="15" font="36">Source: Company /government reported payments/receipts: </text> <text top="414" left="155" width="7" height="13" font="12">0</text> <text top="388" left="147" width="15" height="13" font="12">20</text> <text top="361" left="147" width="15" height="13" font="12">40</text> <text top="335" left="147" width="15" height="13" font="12">60</text> <text top="308" left="147" width="15" height="13" font="12">80</text> <text top="282" left="140" width="22" height="13" font="12">100</text> <text top="255" left="140" width="22" height="13" font="12">120</text> <text top="228" left="140" width="22" height="13" font="12">140</text> <text top="202" left="140" width="22" height="13" font="12">160</text> <text top="362" left="132" width="0" height="13" font="47"><b>G</b></text> <text top="353" left="132" width="0" height="13" font="47"><b>H</b></text> <text top="344" left="132" width="0" height="13" font="47"><b>S</b></text> <text top="296" left="126" width="0" height="13" font="47"><b>M</b></text> <text top="284" left="126" width="0" height="13" font="47"><b>il</b></text> <text top="277" left="126" width="0" height="13" font="47"><b>li</b></text> <text top="270" left="126" width="0" height="13" font="47"><b>o</b></text> <text top="262" left="126" width="0" height="13" font="47"><b>n</b></text> <text top="254" left="126" width="0" height="13" font="47"><b>s</b></text> <text top="172" left="219" width="388" height="15" font="11"><b>Fig 7.0: Payments and receipts of revenue streams in 2010</b></text> <text top="107" left="184" width="577" height="15" font="15"><i>Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011</i></text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="667" left="222" width="405" height="15" font="27"><b>iscrepancies between reported payments and receipts. </b></text> <text top="689" left="284" width="84" height="14" font="72">Government </text> <text top="706" left="284" width="59" height="13" font="72">Reported </text> <text top="724" left="284" width="87" height="13" font="72">Receipts(GHS) </text> <text top="689" left="389" width="35" height="14" font="72">Over </text> <text top="706" left="389" width="67" height="14" font="72">Reporting </text> <text top="724" left="389" width="3" height="13" font="72"> </text> <text top="742" left="389" width="57" height="13" font="72">(A-B)A&gt;B </text> <text top="689" left="488" width="43" height="14" font="72">Under </text> <text top="706" left="488" width="67" height="14" font="72">Reporting </text> <text top="724" left="488" width="3" height="13" font="72"> </text> <text top="742" left="488" width="57" height="13" font="72">(A-B)A&lt;B </text> <text top="689" left="586" width="27" height="14" font="72">Net </text> <text top="706" left="586" width="77" height="14" font="72">Discrepancy</text> <text top="760" left="389" width="12" height="14" font="72">0 </text> <text top="760" left="488" width="12" height="14" font="37">0 </text> <text top="760" left="586" width="12" height="14" font="37">0 </text> <text top="828" left="284" width="59" height="15" font="37"> </text> <text top="845" left="284" width="51" height="15" font="37">830,051 </text> <text top="828" left="389" width="75" height="15" font="74"><b> </b></text> <text top="845" left="389" width="50" height="15" font="74"><b>117,905 </b></text> <text top="828" left="488" width="52" height="15" font="37"> </text> <text top="845" left="488" width="57" height="15" font="37">(339,645) </text> <text top="828" left="586" width="36" height="15" font="37"> </text> <text top="845" left="586" width="53" height="15" font="37">(221,740)</text> <text top="880" left="284" width="33" height="15" font="37"> </text> <text top="896" left="284" width="75" height="15" font="37">150,453,905 </text> <text top="880" left="389" width="62" height="15" font="74"><b> </b></text> <text top="896" left="389" width="61" height="15" font="74"><b>7,493,642 </b></text> <text top="880" left="488" width="33" height="15" font="35"><b> </b></text> <text top="896" left="488" width="75" height="15" font="35"><b>(10,098,758) </b></text> <text top="880" left="586" width="23" height="15" font="37"> </text> <text top="896" left="586" width="64" height="15" font="37">(2,605,116)</text> <text top="916" left="389" width="12" height="14" font="72">0 </text> <text top="916" left="488" width="12" height="14" font="37">0 </text> <text top="916" left="586" width="12" height="14" font="37">0 </text> <text top="966" left="284" width="33" height="15" font="35"><b> </b></text> <text top="983" left="284" width="74" height="15" font="35"><b>125,249,733 </b></text> <text top="966" left="389" width="62" height="15" font="74"><b> </b></text> <text top="983" left="389" width="61" height="15" font="74"><b>2,144,249 </b></text> <text top="966" left="488" width="43" height="15" font="35"><b> </b></text> <text top="983" left="488" width="68" height="15" font="35"><b>(8,572,431) </b></text> <text top="966" left="586" width="23" height="15" font="37"> </text> <text top="983" left="586" width="64" height="15" font="37">(6,428,182)</text> <text top="1017" left="284" width="39" height="15" font="35"><b> </b></text> <text top="1034" left="284" width="68" height="15" font="35"><b>22,440,212 </b></text> <text top="1034" left="389" width="10" height="15" font="72">0 </text> <text top="1017" left="488" width="33" height="15" font="35"><b> </b></text> <text top="1034" left="488" width="75" height="15" font="35"><b>(18,693,382) </b></text> <text top="1034" left="586" width="71" height="15" font="37">(18,693,382)</text> <text top="1052" left="284" width="72" height="15" font="37">298,973,901 </text> <text top="1052" left="389" width="59" height="15" font="72">9,755,796 </text> <text top="1068" left="389" width="3" height="15" font="74"><b> </b></text> <text top="1052" left="488" width="70" height="15" font="37">-37,704,216 </text> <text top="1052" left="586" width="47" height="15" font="35"><b>-</b>27,948,</text> <text top="1087" left="154" width="335" height="15" font="36">ompany /government reported payments/receipts: </text> <text top="172" left="219" width="388" height="15" font="11"><b>Fig 7.0: Payments and receipts of revenue streams in 2010</b></text> <text top="107" left="184" width="581" height="15" font="15"><i>Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="1122" left="772" width="20" height="14" font="3">22 </text> <text top="544" left="773" width="6" height="20" font="7"><b> </b></text> <text top="667" left="623" width="4" height="15" font="27"><b> </b></text> <text top="706" left="586" width="82" height="14" font="72">Discrepancy </text> <text top="689" left="685" width="62" height="14" font="72">Resolved </text> <text top="706" left="685" width="3" height="13" font="72"> </text> <text top="689" left="783" width="71" height="13" font="72">Unresolved </text> <text top="760" left="685" width="12" height="14" font="37">0 </text> <text top="760" left="783" width="12" height="14" font="72">0 </text> <text top="845" left="586" width="57" height="15" font="37">(221,740) </text> <text top="845" left="685" width="41" height="15" font="37">69,068 </text> <text top="812" left="783" width="33" height="15" font="72"> </text> <text top="828" left="783" width="33" height="15" font="72"> </text> <text top="845" left="783" width="57" height="15" font="72">(290,808) </text> <text top="896" left="586" width="68" height="15" font="37">(2,605,116) </text> <text top="880" left="685" width="36" height="15" font="37"> </text> <text top="896" left="685" width="68" height="15" font="37">(2,097,761) </text> <text top="863" left="783" width="13" height="15" font="72"> </text> <text top="880" left="783" width="30" height="15" font="72"> </text> <text top="896" left="783" width="57" height="15" font="72">(507,355) </text> <text top="916" left="685" width="12" height="14" font="37">0 </text> <text top="916" left="783" width="12" height="14" font="72">0 </text> <text top="983" left="586" width="68" height="15" font="37">(6,428,182) </text> <text top="966" left="685" width="36" height="15" font="35"><b> </b></text> <text top="983" left="685" width="68" height="15" font="37">(6,434,181) </text> <text top="950" left="783" width="20" height="15" font="72"> </text> <text top="966" left="783" width="53" height="15" font="72"> </text> <text top="983" left="783" width="38" height="15" font="72">5,999 </text> <text top="1034" left="586" width="74" height="15" font="37">(18,693,382) </text> <text top="1017" left="685" width="30" height="15" font="37"> </text> <text top="1034" left="685" width="74" height="15" font="37">(14,404,582) </text> <text top="1001" left="783" width="10" height="15" font="72"> </text> <text top="1017" left="783" width="20" height="15" font="72"> </text> <text top="1034" left="783" width="68" height="15" font="72">(4,288,800) </text> <text top="1052" left="591" width="65" height="15" font="37">27,948,420 </text> <text top="1052" left="685" width="81" height="15" font="37"> (22,867,456) </text> <text top="1052" left="783" width="78" height="15" font="72"> (5,080,964) </text> <text top="1068" left="783" width="36" height="15" font="72"> </text> <text top="356" left="670" width="62" height="13" font="12">COMPANY</text> <text top="383" left="670" width="88" height="13" font="12">GOVERNMENT</text> </page> <page number="32" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="75" size="12" family="Helvetica" color="#ffffff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">23 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="634" height="16" font="3">The reconciliation produced absolute discrepancy of GHS47, 460,012 and net unresolved </text> <text top="185" left="92" width="669" height="16" font="3">discrepancy of GHS (5,080,964), which indicated that Government Agencies reported receipts </text> <text top="207" left="92" width="672" height="16" font="3">exceeded company reported payments. This was mainly due to the fact that Government/Non </text> <text top="229" left="92" width="701" height="16" font="3">Tax Revenue Unit&#8217;s reported receipt of dividends from Abosso Goldfields Ltd was not corroborated </text> <text top="251" left="92" width="336" height="16" font="3">by the company (See Appendix 5A) for details. </text> <text top="292" left="92" width="5" height="16" font="11"><b> </b></text> <text top="328" left="92" width="171" height="16" font="11"><b>7.3 DISBURSEMENT. </b></text> <text top="352" left="92" width="249" height="14" font="48"><b>FROM HEAD OFFICE TO REGIONS </b></text> <text top="387" left="92" width="139" height="16" font="3">ASHANTI REGION: </text> <text top="424" left="92" width="685" height="16" font="3">The amounts of mineral royalty disbursed and the periods covered by the releases are shown in </text> <text top="446" left="92" width="91" height="16" font="3">table below. </text> <text top="483" left="39" width="241" height="14" font="12"> Table 7.5: ASHANTI REGION. </text> <text top="504" left="92" width="44" height="16" font="26">DATE </text> <text top="526" left="92" width="78" height="16" font="26">RECEIVED </text> <text top="504" left="223" width="136" height="16" font="26">PERIOD COVERED </text> <text top="504" left="414" width="10" height="16" font="26"> </text> <text top="504" left="512" width="5" height="16" font="26"> </text> <text top="504" left="644" width="112" height="16" font="26">AMOUNT(GHS) </text> <text top="564" left="92" width="87" height="16" font="3">10/02/2010 </text> <text top="564" left="223" width="156" height="16" font="3">August-October 2009 </text> <text top="564" left="414" width="5" height="16" font="3"> </text> <text top="564" left="512" width="5" height="16" font="3"> </text> <text top="564" left="644" width="85" height="16" font="3">668,480.38 </text> <text top="601" left="92" width="87" height="16" font="3">23/08/2010 </text> <text top="601" left="223" width="143" height="16" font="3">January -April 2010 </text> <text top="601" left="414" width="5" height="16" font="3"> </text> <text top="601" left="512" width="5" height="16" font="3"> </text> <text top="601" left="644" width="85" height="16" font="3">851,171.92 </text> <text top="639" left="92" width="87" height="16" font="3">21/12/2010 </text> <text top="639" left="223" width="107" height="16" font="3">May-July 2010 </text> <text top="639" left="414" width="5" height="16" font="3"> </text> <text top="639" left="512" width="5" height="16" font="3"> </text> <text top="639" left="644" width="85" height="16" font="3">351,765.66 </text> <text top="676" left="92" width="159" height="17" font="18">Source: OASL Ashanti </text> <text top="714" left="39" width="40" height="16" font="3"> </text> <text top="713" left="80" width="252" height="17" font="18">Table 7.6: BRONG AHAFO REGION </text> <text top="737" left="87" width="122" height="16" font= "26">DATE RECEIVED </text> <text top="737" left="231" width="136" height="16" font="26">PERIOD COVERED </text> <text top="737" left="422" width="76" height="16" font="26">VOUCHER </text> <text top="759" left="422" width="37" height="16" font="26">NO. </text> <text top="737" left="514" width="97" height="16" font="26">CHEQUE NO. </text> <text top="737" left="632" width="112" height="16" font="26">AMOUNT(GHS) </text> <text top="797" left="87" width="87" height="16" font="3">15/02/2010 </text> <text top="797" left="231" width="131" height="16" font="3">March-April 2009; </text> <text top="833" left="231" width="161" height="16" font="3">August-October 2009. </text> <text top="797" left="422" width="5" height="16" font="3"> </text> <text top="797" left="514" width="5" height="16" font="3"> </text> <text top="797" left="692" width="62" height="16" font="3">492,573 </text> <text top="871" left="87" width="87" height="16" font="3">09/06/2010 </text> <text top="871" left="231" width="169" height="16" font="3">January-February 2010 </text> <text top="871" left="422" width="5" height="16" font="3"> </text> <text top="871" left="514" width="5" height="16" font="3"> </text> <text top="871" left="692" width="62" height="16" font="3">492,597 </text> <text top="909" left="87" width="87" height="16" font="3">20/08/2010 </text> <text top="909" left="231" width="129" height="16" font="3">January-February </text> <text top="931" left="231" width="109" height="16" font="3">2010(revised); </text> <text top="968" left="231" width="125" height="16" font="3">March-April 2010 </text> <text top="909" left="422" width="5" height="16" font="3"> </text> <text top="909" left="514" width="5" height="16" font="3"> </text> <text top="909" left="632" width="5" height="16" font="3"> </text> <text top="946" left="692" width="62" height="16" font="3">851,111 </text> <text top="1006" left="87" width="87" height="16" font="26">20/12/2010 </text> <text top="1006" left="231" width="107" height="16" font="26">May-July 2010 </text> <text top="1006" left="422" width="5" height="16" font="26"> </text> <text top="1006" left="514" width="5" height="16" font="26"> </text> <text top="1005" left="749" width="65" height="13" font="75"> </text> <text top="1025" left="676" width="81" height="13" font="75">339,739.87 </text> <text top="1069" left="92" width="201" height="17" font="18">Source: OASL Brong-Ahafo </text> </page> <page number="33" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="76" size="12" family="Helvetica" color="#000000"/> <fontspec id="77" size="12" family="Helvetica" color="#ffffff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">24 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="46" width="257" height="17" font="18"> Table 7.7: WESTERN REGION </text> <text top="185" left="87" width="44" height="16" font="26">DATE </text> <text top="208" left="87" width="78" height="16" font="26">RECEIVED </text> <text top="185" left="192" width="136" height="16" font="26">PERIOD COVERED </text> <text top="185" left="389" width="112" height="16" font="26">AMOUNT(GHS) </text> <text top="245" left="87" width="79" height="16" font="3">8/06/2010 </text> <text top="245" left="192" width="177" height="16" font="3">January &#8211;February 2010 </text> <text top="245" left="507" width="99" height="16" font="3">1,423,425.72 </text> <text top="283" left="87" width="87" height="16" font="3">20/08/2010 </text> <text top="283" left="192" width="145" height="16" font="3">February-April 2010 </text> <text top="283" left="507" width="99" height="16" font="3">2,099,718.79 </text> <text top="321" left="87" width="87" height="16" font="3">20/12/2010 </text> <text top="321" left="192" width="107" height="16" font="3">May-July 2010 </text> <text top="321" left="507" width="99" height="16" font="3">2,237,439.69 </text> <text top="358" left="87" width="41" height="16" font="3">Total </text> <text top="358" left="192" width="5" height="16" font="3"> </text> <text top="358" left="389" width="5" height="16" font="3"> </text> <text top="358" left="493" width="112" height="16" font="0"><b>5,760,584.20 </b></text> <text top="395" left="92" width="205" height="15" font="36">Source: OASL-Western Region. </text> <text top="431" left="92" width="667" height="16" font="11"><b>7.3.1 TRANSFERS FROM REGIONAL OASL TO DISTRICT/MUNICIPAL ASSEMBLIES: </b></text> <text top="468" left="92" width="138" height="16" font="10">ASHANTI REGION </text> <text top="504" left="92" width="645" height="15" font="36"> Table 7.8: Amount due to District/Municipal Assemblies from royalty paid by Anglogold Ashanti Ltd </text> <text top="526" left="87" width="60" height="16" font="26"> District </text> <text top="549" left="87" width="77" height="16" font="26">/Municipal </text> <text top="571" left="87" width="71" height="16" font="26">Assembly </text> <text top="526" left="225" width="107" height="13" font="38">February 2010 </text> <text top="560" left="225" width="36" height="13" font="38">GHS </text> <text top="594" left="225" width="5" height="14" font="72"> </text> <text top="526" left="354" width="90" height="13" font="75">August 2010 </text> <text top="560" left="354" width="32" height="13" font="75">GHS</text> <text top="559" left="385" width="5" height="14" font="72"> </text> <text top="526" left="486" width="112" height="13" font="38">December 2010 </text> <text top="560" left="486" width="32" height="13" font="38">GHS</text> <text top="560" left="518" width="4" height="13" font="75"> </text> <text top="526" left="658" width="36" height="13" font="75">Total </text> <text top="594" left="87" width="55" height="16" font="26">Amount</text> <text top="594" left="142" width="5" height="16" font="3"> </text> <text top="594" left="147" width="26" height="16" font="26">due</text> <text top="594" left="173" width="5" height="16" font="3"> </text> <text top="616" left="87" width="33" height="16" font="26">from</text> <text top="616" left="120" width="5" height="16" font="3"> </text> <text top="616" left="125" width="50" height="16" font="26">release</text> <text top="616" left="175" width="5" height="16" font="3"> </text> <text top="654" left="87" width="55" height="14" font="37">OBUASI </text> <text top="674" left="87" width="87" height="14" font="37">MUN1ICIPAL </text> <text top="675" left="174" width="4" height="13" font="38"> </text> <text top="656" left="338" width="49" height="13" font="38"> </text> <text top="675" left="265" width="81" height="13" font="75">201,432.52 </text> <text top="675" left="365" width="114" height="13" font="75"> 256,482.79 </text> <text top="675" left="549" width="102" height="13" font="75"> 105,998.25 </text> <text top="674" left="687" width="102" height="13" font="76"><b> 563,913.56 </b></text> <text top="710" left="87" width="106" height="14" font="72">ADANSI SOUTH </text> <text top="744" left="87" width="39" height="14" font="72">(GHS)</text> <text top="745" left="126" width="4" height="13" font="38"> </text> <text top="726" left="338" width="57" height="13" font="38"> </text> <text top="745" left="273" width="73" height="13" font="38">58,093.62 </text> <text top="745" left="354" width="114" height="13" font="75"> 73,970.25 </text> <text top="745" left="553" width="97" height="13" font="38"> 30,569.84 </text> <text top="745" left="687" width="20" height="13" font="76"><b> </b></text> <text top="745" left="707" width="81" height="13" font="77"><b>162,633.71 </b></text> <text top="780" left="87" width="107" height="14" font="37">ADANSI NORTH </text> <text top="815" left="87" width="39" height="14" font="37">(GHS)</text> <text top="816" left="126" width="4" height="13" font="38"> </text> <text top="796" left="338" width="57" height="13" font="38"> </text> <text top="816" left="273" width="73" height="13" font="38">28,776.07 </text> <text top="816" left="365" width="114" height="13" font="75"> 36,640.40 </text> <text top="816" left="553" width="97" height="13" font="38"> 15,142.46 </text> <text top="815" left="691" width="97" height="13" font="76"><b> 80,558.93 </b></text> <text top="850" left="87" width="57" height="14" font="72">BEKWAI </text> <text top="871" left="87" width="122" height="14" font="72">MUNICIPAL (GHS) </text> <text top="906" left="87" width="5" height="14" font="37"> </text> <text top="906" left="248" width="97" height="13" font="38"> 27,965.21 </text> <text top="906" left="365" width="114" height="13" font="38"> 35,607.93 </text> <text top="906" left="553" width="24" height="13" font="38"> </text> <text top="906" left="578" width="73" height="13" font="75">14,715.76 </text> <text top="906" left="691" width="97" height="13" font="76"><b> 78,288.90 </b></text> <text top="941" left="87" width="65" height="14" font="37">AMANSIE </text> <text top="962" left="87" width="122" height="14" font="37">CENTRAL (GHS)</text> <text top="960" left="209" width="5" height="16" font="0"><b> </b></text> <text top="943" left="338" width="65" height="13" font="75"> </text> <text top="962" left="273" width="73" height="13" font="75">51,934.91 </text> <text top="962" left="365" width="114" height="13" font="38"> 66,128.40 </text> <text top="962" left="553" width="97" height="13" font="38"> 27,329.03 </text> <text top="962" left="687" width="102" height="13" font="76"><b> 145,392.33 </b></text> <text top="997" left="87" width="46" height="16" font="25"><b>Total </b></text> <text top="997" left="254" width="92" height="14" font="35"><b>368,202.33 </b></text> <text top="1032" left="225" width="5" height="16" font="0"><b> </b></text> <text top="996" left="365" width="114" height="13" font="75"> <b>468,829.76 </b></text> <text top="1031" left="354" width="5" height="16" font="25"><b> </b></text> <text top="996" left="549" width="102" height="13" font="38"> <b>193,755.34 </b></text> <text top="1031" left="486" width="5" height="16" font="0"><b> </b></text> <text top="996" left="687" width="102" height="13" font="77"><b> 1,030,787.43 </b></text> <text top="1031" left="658" width="4" height="13" font="38"> </text> <text top="1069" left="92" width="226" height="15" font="36">Source: OASL &#8211; ASHANTI REGION </text> </page> <page number="34" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="78" size="8" family="Times" color="#ffffff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">25 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="5" height="16" font="3"> </text> <text top="183" left="92" width="459" height="15" font="36">Table 7.9: Royalty disbursement due /Amount paid by OASL in 2010. </text> <text top="205" left="631" width="5" height="16" font="3"> </text> <text top="242" left="631" width="5" height="16" font="3"> </text> <text top="279" left="631" width="5" height="16" font="3"> </text> <text top="316" left="631" width="5" height="16" font="3"> </text> <text top="352" left="631" width="5" height="16" font="3"> </text> <text top="389" left="631" width="5" height="16" font="3"> </text> <text top="426" left="631" width="5" height="16" font="3"> </text> <text top="463" left="631" width="5" height="16" font="3"> </text> <text top="501" left="92" width="140" height="15" font="36">Source: OASL Ashanti</text> <text top="499" left="232" width="5" height="17" font="18"> </text> <text top="501" left="237" width="266" height="15" font="36">Region/Compilation by Boas &amp; Associates</text> <text top="499" left="503" width="10" height="17" font="18">. </text> <text top="537" left="92" width="585" height="16" font="3">Amounts due compare favorably with the transfers to Obuasi Municipal Assembly<b>. </b></text> <text top="574" left="92" width="5" height="16" font="0"><b> </b></text> <text top="611" left="92" width="181" height="16" font="10">BRONG AHAFO REGION: </text> <text top="647" left="92" width="521" height="15" font="36">Table 7.10: Amount due to Asutifi District Assembly/Amount paid by OASL-2010 </text> <text top="669" left="92" width="187" height="16" font="0"><b>Releases from OASL in </b></text> <text top="689" left="92" width="46" height="16" font="0"><b>2010 </b></text> <text top="669" left="323" width="105" height="16" font="0"><b>Amount Due </b></text> <text top="689" left="323" width="54" height="16" font="0"><b>(GHS) </b></text> <text top="669" left="468" width="184" height="16" font="0"><b> Amount paid by OASL </b></text> <text top="689" left="468" width="63" height="16" font="0"><b> (GHS) </b></text> <text top="711" left="92" width="122" height="16" font="25"><b>February 2010 </b></text> <text top="711" left="371" width="89" height="13" font="75"> 544,202.12 </text> <text top="728" left="323" width="5" height="16" font="26"> </text> <text top="711" left="584" width="69" height="14" font="26">542,321.3 </text> <text top="731" left="468" width="5" height="16" font="26"> </text> <text top="752" left="92" width="88" height="16" font="0"><b>June 2010 </b></text> <text top="751" left="371" width="89" height="13" font="38"> 217,764.18 </text> <text top="769" left="323" width="5" height="16" font="3"> </text> <text top="752" left="569" width="85" height="15" font="24">217,764.18 </text> <text top="790" left="92" width="107" height="16" font="25"><b>August 2010 </b></text> <text top="789" left="371" width="89" height="13" font="75"> 365,127.29 </text> <text top="789" left="569" width="85" height="15" font="56">365,127.25 </text> <text top="810" left="92" width="46" height="16" font="0"><b>Total </b></text> <text top="810" left="367" width="89" height="14" font="3">1,127,093.59 </text> <text top="830" left="323" width="5" height="16" font="3"> </text> <text top="810" left="555" width="99" height="16" font="3">1,125,212.76 </text> <text top="850" left="92" width="404" height="15" font="36">Source: OASL Brong -Ahafo/Compilation by Boas &amp; Associates </text> <text top="886" left="92" width="681" height="16" font="3">Although the total amount received in 2010 and paid in the same year compare favourably, the </text> <text top="908" left="92" width="681" height="16" font="3">cheque received in February 2010 was paid in two installments. Likewise the transfer of August </text> <text top="930" left="92" width="284" height="16" font="3">2010 was also paid in two installments. </text> <text top="967" left="92" width="675" height="16" font="3"> An amount of GHS 339,793 received on 20/12/10, was paid to the Assembly in January 2012. </text> <text top="1004" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1041" left="92" width="9" height="16" font="0"><b> </b></text> <text top="1078" left="92" width="5" height="16" font="0"><b> </b></text> <text top="207" left="92" width="145" height="16" font="25"><b>District Assembly </b></text> <text top="207" left="260" width="131" height="16" font="25"><b> Amount due</b></text> <text top="204" left="391" width="9" height="10" font="78"><b>iv</b></text> <text top="207" left="400" width="5" height="16" font="25"><b> </b></text> <text top="207" left="455" width="115" height="16" font="25"><b>Transfer from </b></text> <text top="226" left="455" width="50" height="16" font="25"><b>OASL-</b></text> <text top="245" left="455" width="128" height="16" font="25"><b>ASHANTI(GHS) </b></text> <text top="266" left="92" width="143" height="16" font="0"><b>Obuasi Municipal </b></text> <text top="265" left="313" width="73" height="13" font="76"><b>563,913.56</b></text> <text top="263" left="386" width="5" height="16" font="3"> </text> <text top="266" left="536" width="77" height="15" font="0"><b>563,915.88 </b></text> <text top="287" left="92" width="111" height="16" font="0"><b>Adansi South </b></text> <text top="287" left="313" width="77" height="13" font="38">162,633.71 </text> <text top="287" left="536" width="77" height="15" font="0"><b>161,118.80 </b></text> <text top="307" left="455" width="5" height="16" font="0"><b> </b></text> <text top="341" left="92" width="5" height="16" font="0"><b> </b></text> <text top="361" left="92" width="110" height="16" font="0"><b>Adansi North </b></text> <text top="341" left="317" width="69" height="13" font="38">80,558.93 </text> <text top="341" left="455" width="4" height="15" font="0"><b> </b></text> <text top="361" left="544" width="69" height="15" font="0"><b>80,559.41 </b></text> <text top="382" left="92" width="146" height="16" font="0"><b>Bekwai Municipal </b></text> <text top="381" left="317" width="69" height="13" font="38">78,288.90 </text> <text top="398" left="260" width="4" height="13" font="38"> </text> <text top="382" left="455" width="4" height="15" font="0"><b> </b></text> <text top="401" left="544" width="69" height="15" font="0"><b>78,290.01 </b></text> <text top="421" left="455" width="5" height="16" font="0"><b> </b></text> <text top="456" left="92" width="5" height="16" font="0"><b> </b></text> <text top="475" left="92" width="137" height="16" font="0"><b>Amansie Central </b></text> <text top="455" left="313" width="77" height="13" font="76"><b>145,392.33 </b></text> <text top="456" left="455" width="4" height="15" font="0"><b> </b></text> <text top="475" left="526" width="88" height="14" font="35"><b>145,395.80 </b></text> </page> <page number="35" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">26 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="156" height="16" font="11"><b>WESTERN REGION </b></text> <text top="198" left="92" width="498" height="15" font="36"> Table 7.11: Disbursement from OASL to District /Municipal Assemblies-2010<b> </b></text> <text top="220" left="106" width="151" height="16" font="25"><b>District/Municipal </b></text> <text top="243" left="106" width="87" height="16" font="25"><b>Assembly: </b></text> <text top="220" left="268" width="105" height="16" font="25"><b>Amount Due </b></text> <text top="257" left="268" width="39" height="16" font="25"><b>GHS </b></text> <text top="220" left="434" width="179" height="16" font="25"><b>Amount paid by OASL </b></text> <text top="257" left="434" width="44" height="16" font="25"><b> GHS </b></text> <text top="295" left="106" width="142" height="16" font="3">Prestea Huni Valley </text> <text top="294" left="320" width="106" height="13" font="76"><b> 1,513,368.24 </b></text> <text top="329" left="268" width="5" height="16" font="0"><b> </b></text> <text top="295" left="576" width="65" height="14" font="3">1,528,865</text> <text top="294" left="641" width="5" height="16" font="3"> </text> <text top="332" left="434" width="75" height="16" font="3"> </text> <text top="369" left="106" width="135" height="13" font="38">Mpohor Wassa East </text> <text top="403" left="106" width="5" height="16" font="0"><b> </b></text> <text top="369" left="328" width="85" height="13" font="38"> 365,309.78 </text> <text top="365" left="413" width="5" height="9" font="62">v</text> <text top="369" left="418" width="4" height="13" font="38"> </text> <text top="403" left="268" width="4" height="13" font="38"> </text> <text top="436" left="268" width="4" height="13" font="76"><b> </b></text> <text top="370" left="577" width="67" height="14" font="3"> 370,106 </text> <text top="407" left="434" width="5" height="16" font="3"> </text> <text top="472" left="106" width="111" height="16" font="3">Tarkwa Nsuem </text> <text top="472" left="320" width="106" height="13" font="38"> 1,425,083.85 </text> <text top="506" left="268" width="4" height="13" font="38"> </text> <text top="539" left="268" width="4" height="13" font="76"><b> </b></text> <text top="472" left="588" width="57" height="14" font="3">952,091 </text> <text top="509" left="434" width="5" height="16" font="3"> </text> <text top="574" left="106" width="116" height="16" font="3">Bibiani/Ahwiaso </text> <text top="597" left="106" width="55" height="16" font="3">Bekwai </text> <text top="574" left="325" width="101" height="13" font="38"> 410,969.41 </text> <text top="607" left="268" width="4" height="13" font="76"><b> </b></text> <text top="575" left="588" width="60" height="14" font="3">135,484 </text> <text top="611" left="434" width="5" height="16" font="3"> </text> <text top="649" left="106" width="93" height="16" font="0"><b>Total </b></text> <text top="649" left="332" width="90" height="15" font="0"><b>3,265,795.24 </b></text> <text top="649" left="576" width="69" height="15" font="0"><b>2,986,546 </b></text> <text top="686" left="92" width="5" height="17" font="19"><b> </b></text> <text top="688" left="97" width="50" height="15" font="27"><b>Source</b></text> <text top="686" left="147" width="398" height="17" font="18">: OASL Western Region/Boas &amp; Associates compilations </text> <text top="724" left="92" width="5" height="16" font="0"><b> </b></text> <text top="761" left="92" width="5" height="16" font="0"><b> </b></text> <text top="798" left="92" width="5" height="16" font="0"><b> </b></text> <text top="835" left="92" width="5" height="16" font="0"><b> </b></text> <text top="872" left="92" width="5" height="16" font="0"><b> </b></text> <text top="908" left="92" width="5" height="16" font="0"><b> </b></text> <text top="945" left="92" width="5" height="16" font="0"><b> </b></text> <text top="982" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1019" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1056" left="92" width="5" height="16" font="0"><b> </b></text> </page> <page number="36" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">27 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="5" height="16" font="0"><b> </b></text> <text top="199" left="92" width="423" height="16" font="11"><b>7.4 UTILIZATION OF MINERAL ROYALTY RECEIPTS.</b> </text> <text top="235" left="92" width="555" height="15" font="36">Table 7.12: Obuasi Municipal Assembly: Utilization of Mineral Royalty Receipts (2010) </text> <text top="257" left="92" width="27" height="14" font="72">No. </text> <text top="257" left="133" width="48" height="14" font="72">Details </text> <text top="257" left="390" width="277" height="14" font="72">Budget(GHC) Expenditure(Amount)GHC) </text> <text top="292" left="92" width="17" height="14" font="72">1. </text> <text top="292" left="133" width="245" height="14" font="37">Construction of 3 unit classrooms at </text> <text top="313" left="133" width="44" height="14" font="37">Kunka </text> <text top="292" left="390" width="5" height="14" font="37"> </text> <text top="292" left="606" width="61" height="14" font="37">5,000.00 </text> <text top="348" left="92" width="12" height="14" font="72">2 </text> <text top="348" left="133" width="245" height="14" font="37">Construction of 3 unit classrooms at </text> <text top="369" left="133" width="64" height="14" font="37">Asonkore </text> <text top="348" left="390" width="5" height="14" font="37"> </text> <text top="348" left="606" width="61" height="14" font="37">9,701.90 </text> <text top="404" left="92" width="12" height="14" font="72">3 </text> <text top="404" left="133" width="245" height="14" font="37"> Rehabilitation of Meat Shop at </text> <text top="425" left="133" width="97" height="14" font="37">Obuasi Market </text> <text top="404" left="390" width="5" height="14" font="37"> </text> <text top="404" left="598" width="69" height="14" font="37">28,028.37 </text> <text top="460" left="92" width="12" height="14" font="72">4 </text> <text top="460" left="133" width="245" height="14" font="37">Construction of 6 unit classroom </text> <text top="480" left="133" width="115" height="14" font="37">block at Anyinam </text> <text top="460" left="390" width="5" height="14" font="37"> </text> <text top="460" left="598" width="69" height="14" font="37">90,030.55 </text> <text top="516" left="92" width="12" height="14" font="72">5 </text> <text top="516" left="133" width="245" height="14" font="37">Provision of Basic Furniture for JHS </text> <text top="536" left="133" width="151" height="14" font="37">at Akaporiso (Support) </text> <text top="516" left="390" width="5" height="14" font="37"> </text> <text top="516" left="606" width="61" height="14" font="37">3,975.00 </text> <text top="572" left="92" width="12" height="14" font="72">6 </text> <text top="571" left="133" width="245" height="14" font="37">Supply of Furniture to 5(five) </text> <text top="592" left="133" width="245" height="14" font="37">canteens for the Ghana School </text> <text top="612" left="133" width="55" height="14" font="37">Feeding </text> <text top="612" left="235" width="79" height="14" font="37">programme </text> <text top="612" left="361" width="17" height="14" font="37">at </text> <text top="632" left="133" width="95" height="14" font="37">Mampamhwe, </text> <text top="632" left="279" width="99" height="14" font="37">Jimisokakraba, </text> <text top="653" left="133" width="214" height="14" font="37">Apitikoolo, Sanso and Mamiriwa. </text> <text top="572" left="390" width="5" height="14" font="37"> </text> <text top="572" left="598" width="69" height="14" font="37">11,200.00 </text> <text top="693" left="92" width="12" height="14" font="72">7 </text> <text top="693" left="133" width="78" height="14" font="37">Scholarship </text> <text top="693" left="390" width="5" height="14" font="37"> </text> <text top="693" left="598" width="69" height="14" font="37">42,285.00 </text> <text top="739" left="92" width="12" height="14" font="72">8 </text> <text top="739" left="133" width="132" height="14" font="37">Waste Management </text> <text top="739" left="390" width="5" height="14" font="37"> </text> <text top="739" left="590" width="77" height="14" font="37">123,948.84 </text> <text top="784" left="92" width="5" height="14" font="72"> </text> <text top="784" left="133" width="37" height="14" font="37">Total </text> <text top="784" left="390" width="5" height="14" font="37"> </text> <text top="784" left="579" width="88" height="14" font="35"><b>314,169.66 </b></text> <text top="829" left="92" width="243" height="15" font="27"><b>Source</b>: Obuasi<b> </b>Municipal Assembly </text> <text top="864" left="92" width="4" height="14" font="35"><b> </b></text> <text top="899" left="92" width="4" height="14" font="35"><b> </b></text> <text top="934" left="92" width="4" height="14" font="35"><b> </b></text> <text top="969" left="92" width="4" height="14" font="35"><b> </b></text> <text top="1004" left="92" width="4" height="14" font="35"><b> </b></text> <text top="1038" left="92" width="4" height="14" font="35"><b> </b></text> <text top="1073" left="92" width="4" height="14" font="35"><b> </b></text> </page> <page number="37" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="79" size="15" family="Times" color="#ffffff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">28 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="4" height="14" font="35"><b> </b></text> <text top="197" left="92" width="4" height="14" font="35"><b> </b></text> <text top="231" left="92" width="648" height="15" font="27"><b>Table 7.13: Tarkwa Nsuaem Municipal Assembly: Utilization of Mineral Royalty Receipts </b></text> <text top="253" left="92" width="147" height="16" font="0"><b>Expenditure Item </b></text> <text top="253" left="367" width="112" height="16" font="25"><b>Budget(GHC) </b></text> <text top="253" left="541" width="105" height="16" font="0"><b>Actual(GHC) </b></text> <text top="291" left="92" width="145" height="16" font="3">ECONOMIC/SOCIAL </text> <text top="291" left="389" width="68" height="17" font="79">267,618 </text> <text top="291" left="686" width="68" height="17" font="2">411,204 </text> <text top="330" left="92" width="136" height="16" font="3">ADMINISTRATION </text> <text top="331" left="389" width="68" height="17" font="79">186,000 </text> <text top="331" left="681" width="74" height="17" font="2"> 246,592 </text> <text top="370" left="92" width="110" height="16" font="3">EDUCATIONAL </text> <text top="371" left="417" width="12" height="17" font="79">- </text> <text top="371" left="671" width="88" height="17" font="32"><b> 150,269 </b></text> <text top="410" left="92" width="132" height="16" font="3">ENVIRONMENTAL </text> <text top="410" left="394" width="59" height="17" font="79">72,000 </text> <text top="410" left="687" width="74" height="17" font="2">404,432 </text> <text top="456" left="92" width="53" height="16" font="26">TOTAL </text> <text top="456" left="392" width="63" height="16" font="26">525,618 </text> <text top="456" left="667" width="86" height="16" font="25"><b>1,212,497 </b></text> <text top="493" left="92" width="54" height="17" font="18">Source:</text> <text top="494" left="146" width="238" height="15" font="27"><b> </b>Tarkwa Nsuaem Municipal Assembly</text> <text top="493" left="384" width="5" height="17" font="18"> </text> <text top="530" left="92" width="5" height="16" font="0"><b> </b></text> <text top="567" left="92" width="288" height="16" font="11"><b>7.5 MINERAL DEVELOPMENT FUND </b></text> <text top="604" left="92" width="681" height="16" font="3">This section discusses the utilizations of the ten percent (10%) ceded funds from mining sector </text> <text top="626" left="92" width="696" height="16" font="3">royalty receipts lodged into the Mineral Development Fund (MDF) account for the years 2010 and </text> <text top="649" left="92" width="55" height="16" font="3">2011. </text> <text top="685" left="92" width="687" height="16" font="3">The expenditures of mining sector operators and institutions accessing this account are grouped </text> <text top="708" left="92" width="688" height="16" font="3">under salaries/transfers, developmental/service activities and travel expenses/others. The tables </text> <text top="730" left="92" width="696" height="16" font="3">show (See Appendix 7) the lodgments and expenditures made into/from the MDF account for the </text> <text top="752" left="92" width="159" height="16" font="3">years 2010 and 2011. </text> <text top="788" left="92" width="570" height="15" font="36">7.5.1 ROYALTY LODGEMENTS AND EXPENDITURES FROM THE MDF ACCOUNT IN 2010 </text> <text top="824" left="92" width="690" height="16" font="3">Royalties paid into MDF account at Bank of Ghana by the Controller and Accountant General and </text> <text top="846" left="92" width="482" height="16" font="3">funds expended from the account in 2010 are shown in Appendix 7 </text> <text top="883" left="92" width="683" height="16" font="3">Total lodgments into the MDF account in 2010 amounted to GHS16.204 million with GHS11.398 </text> <text top="905" left="92" width="176" height="16" font="3">million as withdrawals. </text> <text top="942" left="92" width="676" height="16" font="3">Expenditure analysis of the outflows indicates that GHS3.601 million was spent on salaries and </text> <text top="965" left="92" width="693" height="16" font="3">salary related expenditures on a distressed mining company, GHS7.771 million on developmental </text> <text top="987" left="92" width="630" height="16" font="3">and service activities of state agencies/institutions in the mining sector with GHS 24,206 </text> <text top="1009" left="92" width="225" height="16" font="3">expended on overseas travels. <b> </b></text> <text top="1047" left="92" width="6" height="20" font="7"><b> </b></text> </page> <page number="38" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="80" size="11" family="Times" color="#3232ff"/> <fontspec id="81" size="8" family="Times" color="#0000ff"/> <fontspec id="82" size="8" family="Times" color="#0000ff"/> <fontspec id="83" size="8" family="Times" color="#000000"/> <fontspec id="84" size="9" family="Helvetica" color="#0000ff"/> <fontspec id="85" size="9" family="Helvetica" color="#0000ff"/> <fontspec id="86" size="9" family="Times" color="#0000ff"/> <fontspec id="87" size="9" family="Times" color="#ffffff"/> <fontspec id="88" size="9" family="Helvetica" color="#ffffff"/> <fontspec id="89" size="10" family="Helvetica" color="#000000"/> <fontspec id="90" size="9" family="Helvetica" color="#000000"/> <fontspec id="91" size="11" family="Helvetica" color="#000000"/> <fontspec id="92" size="10" family="Helvetica" color="#000000"/> <fontspec id="93" size="9" family="Helvetica" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">29 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="163" left="92" width="4" height="14" font="3"> </text> <text top="200" left="92" width="274" height="16" font="25"><b> 8.0: JANUARY -DECEMBER 2011. </b></text> <text top="239" left="92" width="268" height="14" font="48"><b> 8.1: RESULTS OF RECONCILIATION </b></text> <text top="577" left="92" width="218" height="12" font="80"><i>Source: Companies&#8217; Reporting Templates</i></text> <text top="577" left="310" width="3" height="12" font="5"> </text> <text top="1037" left="92" width="302" height="14" font="39">Source: Government Agencies&#8217; Reporting Templates</text> <text top="1038" left="394" width="3" height="12" font="5"> </text> <text top="1071" left="92" width="5" height="16" font="0"><b> </b></text> <text top="261" left="94" width="35" height="12" font="81">Table 8.1</text> <text top="261" left="331" width="145" height="12" font="82"><b>2011 RECONCILIATION REPORT</b></text> <text top="276" left="331" width="183" height="12" font="82"><b>PERIOD: JANUARY 2011-DECEMBER 2011</b></text> <text top="291" left="94" width="102" height="12" font="82"><b>COMPANY PAYMENTS</b></text> <text top="291" left="331" width="149" height="12" font="82"><b>ALL AMOUNTS IN GHANA CEDIS</b></text> <text top="321" left="94" width="56" height="12" font="78"><b>COMPANIES</b></text> <text top="321" left="206" width="433" height="12" font="78"><b>LICENCE PROPERTY RATE GROUND RENT MINERAL ROYALTY CORPORATE TAX DIVIDEND</b></text> <text top="321" left="704" width="31" height="12" font="78"><b>TOTAL</b></text> <text top="367" left="94" width="106" height="10" font="50">Anglogold Ashanti-Obuasi</text> <text top="367" left="292" width="33" height="10" font="50">424,600</text> <text top="367" left="252" width="42" height="10" font="50"> </text> <text top="367" left="459" width="45" height="10" font="50">19,665,203</text> <text top="367" left="738" width="45" height="10" font="50">20,089,803</text> <text top="367" left="707" width="33" height="10" font="50"> </text> <text top="382" left="94" width="121" height="10" font="50">Anglogold Ashanti -Iduapriem</text> <text top="382" left="300" width="28" height="10" font="50">77,566</text> <text top="382" left="456" width="45" height="10" font="50">13,691,446</text> <text top="382" left="409" width="47" height="10" font="50"> </text> <text top="382" left="738" width="45" height="10" font="50">13,769,012</text> <text top="382" left="707" width="33" height="10" font="50"> </text> <text top="397" left="94" width="10" height="10" font="50">**</text> <text top="397" left="658" width="40" height="10" font="50">3,392,757</text> <text top="397" left="595" width="65" height="10" font="50"> </text> <text top="397" left="743" width="40" height="10" font="50">3,392,757</text> <text top="397" left="707" width="38" height="10" font="50"> </text> <text top="412" left="94" width="93" height="10" font="50">Adamus Resources Ltd</text> <text top="412" left="461" width="40" height="10" font="50">6,729,928</text> <text top="412" left="409" width="52" height="10" font="50"> </text> <text top="412" left="743" width="40" height="10" font="50">6,729,928</text> <text top="412" left="707" width="38" height="10" font="50"> </text> <text top="427" left="94" width="87" height="10" font="50">GSR(Prestea/Bogosu)</text> <text top="427" left="297" width="28" height="10" font="50">31,194</text> <text top="427" left="252" width="47" height="10" font="50"> </text> <text top="427" left="461" width="40" height="10" font="50">8,451,056</text> <text top="427" left="409" width="52" height="10" font="50"> </text> <text top="427" left="743" width="40" height="10" font="50">8,482,250</text> <text top="427" left="707" width="38" height="10" font="50"> </text> <text top="442" left="94" width="75" height="10" font="50">Ghana Bauxite Co.</text> <text top="442" left="297" width="28" height="10" font="50">11,576</text> <text top="442" left="252" width="47" height="10" font="50"> </text> <text top="442" left="468" width="33" height="10" font="50">689,863</text> <text top="442" left="409" width="60" height="10" font="50"> </text> <text top="442" left="751" width="33" height="10" font="50">701,439</text> <text top="442" left="707" width="45" height="10" font="50"> </text> <text top="457" left="94" width="87" height="10" font="50">Ghana Manganse Co.</text> <text top="457" left="297" width="28" height="10" font="50">42,226</text> <text top="457" left="252" width="47" height="10" font="50"> </text> <text top="457" left="370" width="30" height="12" font="50">134,290</text> <text top="457" left="334" width="37" height="12" font="50"> </text> <text top="457" left="461" width="40" height="10" font="50">6,685,574</text> <text top="457" left="409" width="52" height="10" font="50"> </text> <text top="457" left="540" width="45" height="10" font="50">13,922,429</text> <text top="457" left="510" width="30" height="10" font="50"> </text> <text top="457" left="665" width="33" height="10" font="50">898,369</text> <text top="457" left="595" width="73" height="10" font="50"> </text> <text top="457" left="738" width="45" height="10" font="50">21,682,888</text> <text top="457" left="707" width="33" height="10" font="50"> </text> <text top="472" left="94" width="80" height="10" font="50">Gold Fields -Tarkwa</text> <text top="472" left="456" width="45" height="10" font="50">55,503,839</text> <text top="472" left="409" width="47" height="10" font="50"> </text> <text top="472" left="535" width="50" height="10" font="50">184,674,712</text> <text top="472" left="510" width="25" height="10" font="50"> </text> <text top="472" left="652" width="45" height="10" font="50">43,500,000</text> <text top="472" left="595" width="60" height="10" font="50"> </text> <text top="472" left="733" width="50" height="10" font="50">283,678,551</text> <text top="472" left="707" width="27" height="10" font="50"> </text> <text top="487" left="94" width="89" height="10" font="50">Abosso-Goldfields Ltd</text> <text top="487" left="456" width="45" height="10" font="50">18,607,347</text> <text top="487" left="409" width="47" height="10" font="50"> </text> <text top="487" left="544" width="42" height="12" font="50">41,296,620</text> <text top="487" left="510" width="35" height="12" font="50"> </text> <text top="487" left="658" width="40" height="10" font="50">7,500,000</text> <text top="487" left="595" width="65" height="10" font="50"> </text> <text top="487" left="738" width="45" height="10" font="50">67,403,967</text> <text top="487" left="707" width="33" height="10" font="50"> </text> <text top="502" left="94" width="47" height="10" font="50">GSR-Wassa</text> <text top="502" left="297" width="28" height="10" font="50">29,869</text> <text top="502" left="252" width="47" height="10" font="50"> </text> <text top="502" left="456" width="45" height="10" font="50">16,515,428</text> <text top="502" left="409" width="47" height="10" font="50"> </text> <text top="502" left="738" width="45" height="10" font="50">16,545,297</text> <text top="502" left="707" width="33" height="10" font="50"> </text> <text top="517" left="94" width="96" height="10" font="50">Chirano Gold Mines Ltd</text> <text top="517" left="297" width="28" height="10" font="50">57,492</text> <text top="517" left="252" width="47" height="10" font="50"> </text> <text top="517" left="459" width="45" height="10" font="50">17,355,550</text> <text top="517" left="543" width="45" height="10" font="50">46,349,031</text> <text top="517" left="738" width="45" height="10" font="50">63,762,073</text> <text top="517" left="707" width="33" height="10" font="50"> </text> <text top="532" left="94" width="105" height="10" font="50">Newmont Gold Ghana Ltd</text> <text top="532" left="456" width="45" height="10" font="50">47,812,790</text> <text top="532" left="409" width="47" height="10" font="50"> </text> <text top="532" left="535" width="50" height="10" font="50">139,590,210</text> <text top="532" left="510" width="25" height="10" font="50"> </text> <text top="532" left="733" width="50" height="10" font="50">187,403,000</text> <text top="532" left="707" width="27" height="10" font="50"> </text> <text top="547" left="770" width="3" height="10" font="83"><i><b>-</b></i></text> <text top="547" left="707" width="63" height="10" font="83"><i><b> </b></i></text> <text top="562" left="94" width="27" height="10" font="65"><b>TOTAL</b></text> <text top="562" left="292" width="33" height="10" font="65"><b>674,523</b></text> <text top="562" left="252" width="42" height="10" font="65"><b> </b></text> <text top="562" left="367" width="33" height="10" font="65"><b>134,290</b></text> <text top="562" left="334" width="35" height="10" font="65"><b> </b></text> <text top="562" left="451" width="50" height="10" font="65"><b>211,708,024</b></text> <text top="562" left="409" width="42" height="10" font="65"><b> </b></text> <text top="562" left="535" width="50" height="10" font="65"><b>425,833,002</b></text> <text top="562" left="510" width="25" height="10" font="65"><b> </b></text> <text top="562" left="652" width="45" height="10" font="65"><b>55,291,126</b></text> <text top="562" left="595" width="60" height="10" font="65"><b> </b></text> <text top="562" left="733" width="50" height="10" font="65"><b>693,640,965</b></text> <text top="562" left="707" width="27" height="10" font="65"><b> </b></text> <text top="613" left="94" width="38" height="10" font="84">Table 8.2</text> <text top="650" left="94" width="110" height="10" font="85"><b>GOVERNMENT RECEIPTS::</b></text> <text top="650" left="272" width="183" height="10" font="85"><b>PERIOD: JANUARY 2011- DECEMBER 2011.</b></text> <text top="669" left="272" width="133" height="10" font="85"><b>ALL AMOUNTS IN GHANA CEDIS</b></text> <text top="706" left="94" width="63" height="11" font="86"><b>GOVT AGENCY</b></text> <text top="706" left="215" width="168" height="11" font="86"><b>MIN.COMM MUN/DIST ASMBL OASL</b></text> <text top="706" left="425" width="16" height="11" font="86"><b>IRS</b></text> <text top="706" left="509" width="16" height="11" font="86"><b>IRS</b></text> <text top="706" left="595" width="25" height="11" font="86"><b>NTRU</b></text> <text top="743" left="94" width="47" height="10" font="87"><b>COMPANY</b></text> <text top="743" left="215" width="37" height="10" font="88"><b>LICENCE</b></text> <text top="743" left="272" width="72" height="10" font="88"><b>PROPERTY RATE</b></text> <text top="743" left="359" width="224" height="10" font="88"><b>GROUND RENT MINERAL ROYALTY CORPORATE TAX</b></text> <text top="743" left="595" width="52" height="10" font="88"><b> DIVIDEND</b></text> <text top="743" left="689" width="29" height="10" font="88"><b>TOTAL</b></text> <text top="780" left="94" width="83" height="12" font="5">Anglogold-Obuasi</text> <text top="779" left="317" width="35" height="11" font="89">424,600</text> <text top="779" left="274" width="45" height="11" font="89"> </text> <text top="780" left="453" width="48" height="12" font="5">19,665,202</text> <text top="780" left="429" width="27" height="12" font="5"> </text> <text top="780" left="737" width="46" height="10" font="90">20,089,802</text> <text top="780" left="692" width="45" height="10" font="90"> </text> <text top="798" left="94" width="95" height="12" font="5">Anglogold -Iduaprim</text> <text top="798" left="454" width="48" height="11" font="89">13,691,446</text> <text top="798" left="428" width="27" height="11" font="89"> </text> <text top="798" left="540" width="48" height="12" font="5">56,794,976</text> <text top="798" left="513" width="30" height="12" font="5"> </text> <text top="799" left="737" width="46" height="10" font="90">70,486,422</text> <text top="799" left="692" width="45" height="10" font="90"> </text> <text top="817" left="94" width="16" height="12" font="5">***</text> <text top="817" left="641" width="41" height="10" font="90">3,392,503</text> <text top="817" left="598" width="45" height="10" font="90"> </text> <text top="817" left="742" width="41" height="10" font="90">3,392,503</text> <text top="817" left="692" width="52" height="10" font="90"> </text> <text top="836" left="94" width="97" height="10" font="90">Adamus Resources Ltd</text> <text top="836" left="461" width="41" height="10" font="90">6,729,929</text> <text top="836" left="428" width="34" height="10" font="90"> </text> <text top="836" left="742" width="41" height="10" font="90">6,729,929</text> <text top="836" left="692" width="52" height="10" font="90"> </text> <text top="854" left="94" width="95" height="12" font="5">GSR-Prestea/Bogosu</text> <text top="853" left="454" width="48" height="11" font="89">12,573,619</text> <text top="853" left="428" width="27" height="11" font="89"> </text> <text top="854" left="737" width="46" height="10" font="90">12,573,619</text> <text top="854" left="692" width="45" height="10" font="90"> </text> <text top="872" left="94" width="85" height="12" font="5">Ghana Bauxite CO.</text> <text top="872" left="468" width="35" height="11" font="89">689,863</text> <text top="872" left="428" width="42" height="11" font="89"> </text> <text top="873" left="749" width="34" height="10" font="90">689,863</text> <text top="873" left="692" width="59" height="10" font="90"> </text> <text top="891" left="94" width="96" height="12" font="5">Ghana Manganse Co.</text> <text top="890" left="459" width="43" height="11" font="89">6,685,574</text> <text top="890" left="428" width="33" height="11" font="89"> </text> <text top="891" left="540" width="48" height="12" font="5">42,813,036</text> <text top="891" left="513" width="30" height="12" font="5"> </text> <text top="891" left="647" width="35" height="12" font="5">898,369</text> <text top="891" left="599" width="50" height="12" font="5"> </text> <text top="891" left="737" width="46" height="10" font="90">50,396,979</text> <text top="891" left="692" width="45" height="10" font="90"> </text> <text top="909" left="94" width="87" height="12" font="5">Goldfields -Tarkwa</text> <text top="909" left="453" width="48" height="12" font="5">57,693,232</text> <text top="909" left="429" width="27" height="12" font="5"> </text> <text top="909" left="534" width="54" height="12" font="5">214,666,712</text> <text top="909" left="513" width="23" height="12" font="5"> </text> <text top="910" left="636" width="46" height="10" font="90">39,722,000</text> <text top="910" left="598" width="39" height="10" font="90"> </text> <text top="910" left="731" width="52" height="10" font="90">312,081,944</text> <text top="910" left="692" width="41" height="10" font="90"> </text> <text top="928" left="94" width="100" height="12" font="5">Abosso Goldfields Ltd</text> <text top="928" left="454" width="48" height="11" font="89">18,607,347</text> <text top="928" left="428" width="27" height="11" font="89"> </text> <text top="928" left="540" width="48" height="12" font="5">53,362,556</text> <text top="928" left="513" width="30" height="12" font="5"> </text> <text top="928" left="737" width="46" height="10" font="90">71,969,903</text> <text top="928" left="692" width="45" height="10" font="90"> </text> <text top="946" left="94" width="69" height="12" font="5">GSR(Wassa)Ltd</text> <text top="946" left="454" width="48" height="11" font="89">14,872,591</text> <text top="946" left="428" width="27" height="11" font="89"> </text> <text top="947" left="737" width="46" height="10" font="90">14,872,591</text> <text top="947" left="692" width="45" height="10" font="90"> </text> <text top="965" left="94" width="107" height="12" font="5">Chirano Gold Mines Ltd</text> <text top="965" left="322" width="30" height="12" font="5">57,492</text> <text top="965" left="275" width="48" height="12" font="5"> </text> <text top="965" left="454" width="48" height="11" font="89">19,129,768</text> <text top="965" left="428" width="27" height="11" font="89"> </text> <text top="965" left="540" width="48" height="12" font="5">28,890,606</text> <text top="965" left="513" width="30" height="12" font="5"> </text> <text top="965" left="737" width="46" height="10" font="90">48,077,866</text> <text top="965" left="692" width="45" height="10" font="90"> </text> <text top="983" left="94" width="119" height="12" font="5">Newmont Gold Ghana Ltd</text> <text top="983" left="454" width="48" height="11" font="89">47,812,791</text> <text top="983" left="428" width="27" height="11" font="89"> </text> <text top="983" left="534" width="54" height="12" font="5">103,297,879</text> <text top="983" left="513" width="23" height="12" font="5"> </text> <text top="984" left="731" width="52" height="10" font="90">151,110,670</text> <text top="984" left="692" width="41" height="10" font="90"> </text> <text top="1020" left="94" width="38" height="13" font="91"><b>TOTAL</b></text> <text top="1021" left="317" width="35" height="11" font="92"><b>482,092</b></text> <text top="1021" left="274" width="45" height="11" font="92"><b> </b></text> <text top="1021" left="449" width="53" height="11" font="92"><b>218,151,362</b></text> <text top="1021" left="428" width="24" height="11" font="92"><b> </b></text> <text top="1021" left="537" width="52" height="10" font="93"><b>499,825,765</b></text> <text top="1021" left="512" width="27" height="10" font="93"><b> </b></text> <text top="1021" left="636" width="46" height="10" font="93"><b>44,012,872</b></text> <text top="1021" left="598" width="39" height="10" font="93"><b> </b></text> <text top="1020" left="729" width="54" height="13" font="71"><b>762,472,091</b></text> <text top="1020" left="693" width="39" height="13" font="71"><b> </b></text> </page> <page number="39" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="94" size="15" family="Symbol" color="#0000ff"/> <fontspec id="95" size="15" family="Helvetica" color="#0000ff"/> <fontspec id="96" size="16" family="Times" color="#0000ff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">30 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="159" left="112" width="7" height="21" font="20">&#8226;</text> <text top="163" left="119" width="4" height="15" font="21"> </text> <text top="162" left="138" width="171" height="17" font="18">Mineral Right Licence: </text> <text top="199" left="92" width="636" height="16" font="3">There was no payment of mineral right licence on concessions under production in 2011. </text> <text top="232" left="112" width="7" height="21" font="20">&#8226;</text> <text top="237" left="119" width="4" height="15" font="21"> </text> <text top="236" left="138" width="100" height="17" font="18">Ground Rent: </text> <text top="273" left="92" width="456" height="16" font="3"> Only Ghana Manganese Ltd reported payments of ground rent. </text> <text top="306" left="118" width="8" height="23" font="70">&#8226;</text> <text top="312" left="126" width="5" height="16" font="28"> </text> <text top="310" left="145" width="118" height="18" font="29">Property Rate: </text> <text top="349" left="92" width="671" height="16" font="0"><b> </b>Seven companies reported the payment of property rate<b>.</b> All companies with the exception of </text> <text top="371" left="92" width="397" height="16" font="3">Newmont Ghana Gold Ltd is liable to pay property rate. </text> <text top="404" left="118" width="8" height="23" font="70">&#8226;</text> <text top="410" left="126" width="5" height="16" font="28"> </text> <text top="408" left="145" width="135" height="18" font="29">Mineral Royalty: </text> <text top="447" left="92" width="646" height="16" font="3">Reported mineral royalty payment amounted to GHS 211,708,024 whilst the GRA reported </text> <text top="469" left="92" width="213" height="16" font="3">receipts of GHS 218,151,362. </text> <text top="502" left="118" width="8" height="23" font="94">&#8226;</text> <text top="507" left="126" width="5" height="16" font="95"> </text> <text top="506" left="145" width="121" height="18" font="96">Corporate Tax: </text> <text top="545" left="92" width="693" height="16" font="3"> Six companies namely Ghana Manganese Ltd, Anglogold Ashanti-Iduapriem; Chirano Gold Mines </text> <text top="567" left="92" width="680" height="16" font="3">Ltd; Abosso Goldfields Ltd, Gold Fields Ghana Ltd and Newmont Ghana Gold Ltd paid corporate </text> <text top="589" left="92" width="168" height="16" font="3">tax payments in 2011. </text> <text top="626" left="92" width="579" height="16" font="3">Capital allowances carried forward at the end of 2011 ranged from US$48,862 to </text> <text top="649" left="92" width="127" height="16" font="3">US$509,272,373. </text> <text top="685" left="92" width="653" height="16" font="3">Anglogold Ashanti and GSR (Prestea /Bogosu) did not pay corporate tax due to their strong </text> <text top="708" left="92" width="198" height="16" font="3">capital allowance positions. </text> <text top="741" left="118" width="8" height="23" font="70">&#8226;</text> <text top="746" left="126" width="5" height="16" font="28"> </text> <text top="744" left="145" width="92" height="18" font="29">Dividends: </text> <text top="766" left="92" width="698" height="16" font="3"> Anglogold Ashanti International paid dividends in 2011. Anglogold Ashanti International operated </text> <text top="788" left="92" width="637" height="16" font="3">two mines (Anglogold Ashanti-Iduapriem and Anglogold Ashanti-Obuasi) in Ghana. Other </text> <text top="810" left="92" width="641" height="16" font="3">companies that paid dividend included Ghana Manganese Ltd and Gold Fields Ghana Ltd. </text> <text top="847" left="92" width="5" height="14" font="37"> </text> <text top="867" left="92" width="5" height="14" font="37"> </text> <text top="887" left="92" width="5" height="14" font="37"> </text> <text top="908" left="92" width="5" height="14" font="37"> </text> <text top="928" left="92" width="5" height="14" font="37"> </text> <text top="948" left="92" width="5" height="14" font="37"> </text> <text top="969" left="92" width="5" height="14" font="37"> </text> <text top="989" left="92" width="5" height="14" font="37"> </text> <text top="1009" left="92" width="5" height="14" font="37"> </text> <text top="1029" left="92" width="5" height="14" font="37"> </text> <text top="1050" left="92" width="5" height="14" font="37"> </text> <text top="1070" left="92" width="5" height="14" font="37"> </text> <text top="1090" left="92" width="5" height="14" font="37"> </text> </page> <page number="40" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="669" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011</i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="1142" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="474" height="15" font="36">Table 8.2.2: Government shareholding in participating companies in 2011</text> <text top="183" left="92" width="69" height="14" font="72">Company </text> <text top="219" left="92" width="129" height="14" font="37">Goldfields (Abosso) </text> <text top="254" left="92" width="157" height="14" font="37">GSR ( Prestea/Bogosu) </text> <text top="290" left="92" width="289" height="14" font="37">Gold Fields Ghana (Tarkwa) </text> <text top="326" left="92" width="98" height="14" font="37">Ghana Bauxite </text> <text top="361" left="92" width="123" height="14" font="37">Ghana Manganese </text> <text top="397" left="92" width="126" height="14" font="37">Anglo Gold Ashanti </text> <text top="417" left="92" width="98" height="14" font="37">(International) </text> <text top="453" left="92" width="84" height="14" font="37">GSR(Wassa) </text> <text top="488" left="92" width="154" height="14" font="37">Chirano Gold Mines Ltd </text> <text top="524" left="92" width="151" height="14" font="37">Adamus Resources Ltd </text> <text top="559" left="92" width="175" height="14" font="37">Newmont Ghana Gold Ltd </text> <text top="594" left="92" width="235" height="15" font="36">Source: NTRU/Company information</text> <text top="630" left="92" width="5" height="16" font="3"> </text> <text top="1066" left="92" width="5" height="16" font="3"> </text> <text top="914" left="168" width="7" height="13" font="12">0</text> <text top="895" left="161" width="15" height="13" font="12">50</text> <text top="876" left="154" width="22" height="13" font="12">100</text> <text top="857" left="154" width="22" height="13" font="12">150</text> <text top="838" left="154" width="22" height="13" font="12">200</text> <text top="820" left="154" width="22" height="13" font="12">250</text> <text top="801" left="154" width="22" height="13" font="12">300</text> <text top="782" left="154" width="22" height="13" font="12">350</text> <text top="763" left="154" width="22" height="13" font="12">400</text> <text top="744" left="154" width="22" height="13" font="12">450</text> <text top="725" left="154" width="22" height="13" font="12">500</text> <text top="835" left="136" width="0" height="13" font="47"><b>G</b></text> <text top="826" left="136" width="0" height="13" font="47"><b>H</b></text> <text top="817" left="136" width="0" height="13" font="47"><b>S</b></text> <text top="810" left="136" width="0" height="13" font="47"><b> M</b></text> <text top="794" left="136" width="0" height="13" font="47"><b>il</b></text> <text top="786" left="136" width="0" height="13" font="47"><b>li</b></text> <text top="779" left="136" width="0" height="13" font="47"><b>o</b></text> <text top="772" left="136" width="0" height="13" font="47"><b>n</b></text> <text top="764" left="136" width="0" height="13" font="47"><b>s</b></text> <text top="681" left="198" width="453" height="15" font="11"><b>FIG 8:Reported Payments and Receipts of Revenue Streams in 2011.</b></text> <text top="107" left="184" width="577" height="15" font="15"><i>Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011</i></text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="162" left="165" width="401" height="15" font="36">: Government shareholding in participating companies in 2011</text> <text top="160" left="566" width="5" height="17" font="18"> </text> <text top="183" left="316" width="99" height="14" font="72">GoG Shares % </text> <text top="219" left="316" width="20" height="14" font="37">10 </text> <text top="254" left="316" width="20" height="14" font="37">10 </text> <text top="290" left="316" width="20" height="14" font="37">10 </text> <text top="326" left="316" width="20" height="14" font="37">20 </text> <text top="361" left="316" width="20" height="14" font="37">10 </text> <text top="397" left="316" width="33" height="14" font="37">1.67 </text> <text top="453" left="316" width="20" height="14" font="37">10 </text> <text top="488" left="316" width="20" height="14" font="37">10 </text> <text top="524" left="316" width="20" height="14" font="37">10 </text> <text top="559" left="316" width="21" height="14" font="37">Nil </text> <text top="594" left="92" width="239" height="15" font="36">Source: NTRU/Company information </text> <text top="681" left="198" width="453" height="15" font="11"><b>FIG 8:Reported Payments and Receipts of Revenue Streams in 2011.</b></text> <text top="107" left="184" width="581" height="15" font="15"><i>Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="1122" left="772" width="20" height="14" font="3">31 </text> <text top="1032" left="809" width="5" height="16" font="3"> </text> <text top="681" left="198" width="453" height="15" font="11"><b>FIG 8:Reported Payments and Receipts of Revenue Streams in 2011.</b></text> <text top="851" left="707" width="62" height="13" font="12">COMPANY</text> <text top="877" left="707" width="88" height="13" font="12">GOVERNMENT</text> </page> <page number="41" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="97" size="11" family="Helvetica" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">32 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="170" height="16" font="11"><b>8.2 DISCREPANCIES </b></text> <text top="186" left="92" width="542" height="14" font="8"><i>Table 8.3: 2011 DISCREPANCIES BETWEEN REPORTED PAYMENTS AND RECEIPTS. </i></text> <text top="209" left="87" width="4" height="14" font="74"><b> </b></text> <text top="227" left="87" width="56" height="13" font="74"><b>Revenue </b></text> <text top="244" left="87" width="47" height="13" font="74"><b>Stream </b></text> <text top="209" left="172" width="69" height="14" font="72">Company </text> <text top="227" left="172" width="59" height="13" font="72 ">Reported </text> <text top="244" left="172" width="95" height="13" font="72">Payments(GHS) </text> <text top="262" left="172" width="12" height="13" font="72">A </text> <text top="209" left="284" width="84" height="14" font="72">Government </text> <text top="227" left="284" width="59" height="13" font="72">Reported </text> <text top="244" left="284" width="87" height="13" font="72">Receipts(GHS) </text> <text top="262" left="284" width="11" height="13" font="72">B </text> <text top="209" left="389" width="35" height="14" font="72">Over </text> <text top="227" left="389" width="67" height="14" font="72">Reporting </text> <text top="245" left="389" width="4" height="14" font="26"> </text> <text top="264" left="389" width="62" height="14" font="26">(A-B)A&gt;B </text> <text top="209" left="481" width="43" height="14" font="72">Under </text> <text top="227" left="481" width="67" height="14" font="72">Reporting </text> <text top="245" left="481" width="4" height="14" font="26"> </text> <text top="264" left="481" width="62" height="14" font="26">(A-B)A&lt;B </text> <text top="209" left="586" width="27" height="14" font="72">Net </text> <text top="227" left="586" width="82" height="14" font="72">Discrepancy </text> <text top="209" left="685" width="62" height="14" font="72">Resolved </text> <text top="227" left="685" width="3" height="13" font="72"> </text> <text top="209" left="777" width="71" height="13" font="72">Unresolved </text> <text top="284" left="87" width="51" height="14" font="72">Mineral </text> <text top="302" left="87" width="38" height="14" font="72">Right </text> <text top="319" left="87" width="52" height="14" font="72">Licence </text> <text top="284" left="172" width="5" height="14" font="37"> </text> <text top="302" left="172" width="12" height="14" font="3">0 </text> <text top="284" left="284" width="12" height="14" font="37">0 </text> <text top="284" left="389" width="12" height="14" font="72">0 </text> <text top="284" left="481" width="12" height="14" font="37">0 </text> <text top="284" left="586" width="12" height="14" font="37">0 </text> <text top="284" left="685" width="12" height="14" font="37">0 </text> <text top="284" left="777" width="12" height="14" font="72">0 </text> <text top="338" left="87" width="59" height="14" font="72">Property </text> <text top="355" left="87" width="34" height="14" font="72">Rate </text> <text top="373" left="172" width="58" height="17" font="0"><b> </b></text> <text top="391" left="172" width="55" height="17" font="0"><b>674,523 </b></text> <text top="373" left="284" width="58" height="17" font="3"> </text> <text top="391" left="284" width="56" height="17" font="3">482,092 </text> <text top="373" left="389" width="76" height="17" font="25"><b> </b></text> <text top="391" left="389" width="55" height="17" font="25"><b>192,431 </b></text> <text top="391" left="481" width="11" height="17" font="3">0 </text> <text top="373" left="586" width="72" height="17" font="3"> </text> <text top="391" left="586" width="56" height="17" font="3">192,431 </text> <text top="373" left="685" width="69" height="17" font="3"> </text> <text top="391" left="685" width="49" height="17" font="3">69,068 </text> <text top="336" left="777" width="72" height="17" font="26"> </text> <text top="354" left="777" width="36" height="17" font="26"> </text> <text top="373" left="777" width="69" height="17" font="26"> </text> <text top="391" left="777" width="60" height="17" font="26">180,855 </text> <text top="412" left="87" width="56" height="14" font="72">Ground </text> <text top="430" left="87" width="34" height="14" font="72">Rent </text> <text top="410" left="172" width="58" height="17" font="0"><b> </b></text> <text top="428" left="172" width="55" height="17" font="0"><b>134,290 </b></text> <text top="428" left="284" width="11" height="17" font="3">0 </text> <text top="410" left="389" width="76" height="17" font="25"><b> </b></text> <text top="428" left="389" width="55" height="17" font="25"><b>134,290 </b></text> <text top="428" left="481" width="11" height="17" font="3">0 </text> <text top="410" left="586" width="72" height="17" font="3"> </text> <text top="428" left="586" width="56" height="17" font="3">134,290 </text> <text top="428" left="685" width="11" height="17" font="3">0 </text> <text top="410" left="777" width="69" height="17" font="26"> </text> <text top="428" left="777" width="56" height="17" font="26">134,290 </text> <text top="450" left="87" width="51" height="14" font="72">Mineral </text> <text top="467" left="87" width="52" height="14" font="72">Royalty </text> <text top="484" left="172" width="79" height="17" font="3">211,708,024 </text> <text top="474" left="284" width="33" height="12" font="97"> </text> <text top="489" left="284" width="80" height="12" font="97">218,151,362 </text> <text top="466" left="389" width="62" height="17" font="25"><b> </b></text> <text top="484" left="389" width="67" height="17" font="25"><b>1,642,838 </b></text> <text top="466" left="481" width="62" height="17" font="0"><b> </b></text> <text top="484" left="481" width="75" height="17" font="0"><b>(8,086,175) </b></text> <text top="466" left="586" width="51" height="17" font="3"> </text> <text top="484" left="586" width="75" height="17" font="3">(6,443,337) </text> <text top="466" left="685" width="40" height="17" font="0"><b> </b></text> <text top="484" left="685" width="75" height="17" font="3">(3,963,611) </text> <text top="447" left="777" width="51" height="17" font="26"> </text> <text top="466" left="777" width="47" height="17" font="25"><b> </b></text> <text top="484" left="777" width="75" height="17" font="26">(2,479,726) </text> <text top="506" left="87" width="68" height="14" font="72">Corporate </text> <text top="523" left="87" width="33" height="14" font="72">Tax </text> <text top="540" left="172" width="83" height="17" font="3">425,833,002 </text> <text top="522" left="284" width="29" height="17" font="3"> </text> <text top="540" left="284" width="83" height="17" font="3">499,825,765 </text> <text top="522" left="389" width="54" height="17" font="25"><b> </b></text> <text top="540" left="389" width="74" height="17" font="25"><b>53,750,756 </b></text> <text top="522" left="481" width="44" height="17" font="0"><b> </b></text> <text top="540" left="481" width="90" height="17" font="0"><b>(127,743,519) </b></text> <text top="524" left="586" width="36" height="17" font="0"><b> </b></text> <text top="542" left="586" width="74" height="15" font="37">(73,992,763) </text> <text top="503" left="685" width="22" height="17" font="3"> </text> <text top="522" left="685" width="73" height="17" font="3">(73,992,763</text> <text top="540" left="685" width="9" height="17" font="3">) </text> <text top="503" left="777" width="43" height="17" font="25"><b> </b></text> <text top="522" left="777" width="43" height="17" font="25"><b> </b> </text> <text top="540" left="777" width="11" height="17" font="25"><b>0 </b></text> <text top="562" left="87" width="67" height="14" font="72">Dividends </text> <text top="579" left="172" width="77" height="14" font="3">55,291,126 </text> <text top="578" left="249" width="4" height="16" font="2"> </text> <text top="559" left="284" width="15" height="17" font="3"> </text> <text top="578" left="284" width="95" height="17" font="3">44,012,871.74 </text> <text top="559" left="389" width="54" height="17" font="26"> </text> <text top="578" left="389" width="75" height="17" font="26">11,278,254 </text> <text top="578" left="481" width="72" height="17" font="3"> 0 </text> <text top="559" left="586" width="51" height="17" font="3"> </text> <text top="578" left="586" width="72" height="17" font="3">11,278,254 </text> <text top="578" left="685" width="54" height="17" font="3"> 0 </text> <text top="559" left="777" width="47" height="17" font="26"> </text> <text top="578" left="777" width="72" height="17" font="26">11,278,254 </text> <text top="600" left="87" width="46" height="16" font="25"><b>Total </b></text> <text top="597" left="172" width="129" height="17" font="0"><b>693,640,965 </b></text> <text top="597" left="284" width="78" height="17" font="0"><b>762,472,091 </b></text> <text top="597" left="389" width="71" height="17" font="25"><b>66,998,569 </b></text> <text top="618" left="389" width="5" height="16" font="25"><b> </b></text> <text top="600" left="481" width="85" height="17" font="0"><b>-135,829,694 </b></text> <text top="621" left="481" width="5" height="16" font="0"><b> </b></text> <text top="597" left="586" width="77" height="17" font="3">-68,831,125<b> </b></text> <text top="615" left="586" width="4" height="17" font="0"><b> </b></text> <text top="634" left="586" width="4" height="17" font="0"><b> </b></text> <text top="614" left="685" width="77" height="17" font="3">-77,887,336 </text> <text top="636" left="685" width="5" height="16" font="0"><b> </b></text> <text top="597" left="777" width="64" height="17" font="26">9,113,673 </text> <text top="656" left="92" width="5" height="16" font="3"> </text> <text top="692" left="92" width="637" height="16" font="3">The 2011 reconciliation produced an absolute discrepancy of GHS202, 828,263 and a net </text> <text top="715" left="92" width="676" height="16" font="3">discrepancy of GHS (68,831,125). After resolution of some of the discrepancies the unresolved </text> <text top="737" left="92" width="683" height="16" font="3">discrepancies amounted to GHS 9,113,673. Details of the discrepancies are shown in (Appendix </text> <text top="759" left="92" width="29" height="16" font="3">5B) </text> <text top="796" left="92" width="166" height="16" font="11"><b>8.3 DISBURSEMENT </b></text> <text top="832" left="39" width="45" height="17" font="2"> </text> <text top="832" left="85" width="228" height="17" font="18">Table 8.3.1: ASHANTI REGION. </text> <text top="856" left="93" width="44" height="16" font="26">DATE </text> <text top="878" left="93" width="78" height="16" font="26">RECEIVED </text> <text top="856" left="192" width="136" height="16" font="26">PERIOD COVERED </text> <text top="856" left="378" width="112" height="16" font="26">AMOUNT(GHS) </text> <text top="916" left="93" width="254" height="16" font="3">20/03/2011 August-October 2010 </text> <text top="916" left="378" width="85" height="16" font="3">359,956.84 </text> <text top="954" left="93" width="70" height="16" font="3">29/09/11 </text> <text top="954" left="192" width="138" height="16" font="3">January-April 2011 </text> <text top="954" left="378" width="85" height="16" font="3">657,026.19 </text> <text top="991" left="93" width="41" height="16" font="3">Total </text> <text top="991" left="192" width="5" height="16" font="3"> </text> <text top="991" left="378" width="98" height="16" font="3">1,016,983.03 </text> <text top="1028" left="92" width="244" height="17" font="18">Source: OASL &#8211;ASHANTI REGION </text> <text top="1066" left="92" width="5" height="16" font="3"> </text> </page> <page number="42" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="98" size="15" family="Times" color="#0000ff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">33 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="39" width="311" height="17" font="18"> Table 8.3.2: BRONG AHAFO REGION. </text> <text top="185" left="87" width="122" height="16" font="26">DATE RECEIVED </text> <text top="185" left="258" width="136" height="16" font="26">PERIOD COVERED </text> <text top="185" left="422" width="112" height="16" font="26">AMOUNT(GHS) </text> <text top="223" left="87" width="79" height="16" font="3">15/3/2011 </text> <text top="223" left="258" width="124" height="16" font="3">August &#8211;October </text> <text top="245" left="258" width="40" height="16" font="3">2010 </text> <text top="223" left="454" width="90" height="16" font="3"> 395,279.20 </text> <text top="283" left="87" width="87" height="16" font="3">19/09/2011 </text> <text top="283" left="258" width="138" height="16" font="3">January-April 2011 </text> <text top="283" left="449" width="95" height="16" font="3"> 877,669.30 </text> <text top="321" left="87" width="41" height="16" font="3">Total </text> <text top="321" left="258" width="5" height="16" font="3"> </text> <text top="321" left="445" width="98" height="16" font="3">1,272,948.50<b> </b></text> <text top="358" left="92" width="278" height="17" font="18">Source: OASL-BRONG AHAFO REGION </text> <text top="395" left="92" width="623" height="16" font="3">Computations made by the Reconciler indicates that Asutifi South should have received </text> <text top="417" left="92" width="694" height="16" font="3">GHS977,669 (based on the royalties paid by Newmont Ghana Gold Ltd of GHS8,727,255.84 and </text> <text top="440" left="92" width="668" height="16" font="3">GHS11,428,276.55 for January 2011 and April 2011 respectively), instead of the 877,669.30 </text> <text top="462" left="92" width="255" height="16" font="3">paid by the OASL.(See Appendix 6) </text> <text top="499" left="92" width="5" height="16" font="3"> </text> <text top="520" left="92" width="232" height="17" font="98">TABLE 8:3.3 WESTERN REGION </text> <text top="544" left="92" width="44" height="16" font="26">DATE </text> <text top="566" left="92" width="78" height="16" font="26">RECEIVED </text> <text top="544" left="223" width="136" height="16" font="26">PERIOD COVERED </text> <text top="544" left="393" width="112" height="16" font="26">AMOUNT(GHS) </text> <text top="604" left="92" width="87" height="16" font="3">11/03/2011 </text> <text top="604" left="223" width="156" height="16" font="3">August-October 2010 </text> <text top="604" left="431" width="99" height="16" font="3">2,479,633.43 </text> <text top="642" left="92" width="87" height="16" font="3">19/09/2011 </text> <text top="642" left="223" width="137" height="16" font="3">January April 2011 </text> <text top="642" left="431" width="99" height="16" font="3">4,095,550.18 </text> <text top="679" left="92" width="41" height="16" font="3">Total </text> <text top="679" left="223" width="5" height="16" font="3"> </text> <text top="679" left="431" width="99" height="16" font="3">6,575,183.61 </text> <text top="716" left="92" width="247" height="17" font="18">Source: OASL- WESTERN REGION </text> <text top="754" left="92" width="5" height="16" font="0"><b> </b></text> <text top="791" left="92" width="5" height="16" font="0"><b> </b></text> <text top="828" left="92" width="5" height="16" font="0"><b> </b></text> <text top="865" left="92" width="5" height="16" font="0"><b> </b></text> <text top="901" left="92" width="5" height="16" font="0"><b> </b></text> <text top="938" left="92" width="5" height="16" font="0"><b> </b></text> <text top="975" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1012" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1049" left="92" width="5" height="16" font="0"><b> </b></text> </page> <page number="43" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">34 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="697" height="16" font="11"><b>8.4.1 TRANSFER OF ROYALTY FROM REGIONAL OASL TO MUNICIPAL/DISTRICT </b></text> <text top="185" left="92" width="161" height="16" font="11"><b>ASSEMBLIES-2011</b>.<b> </b></text> <text top="222" left="92" width="156" height="16" font="11"><b>ASHANTI REGION</b>: </text> <text top="258" left="79" width="5" height="16" font="3"> </text> <text top="280" left="79" width="621" height="14" font="39">Table 8.4.1: Amount due to District/Municipal Assemblies from royalty paid by Anglogold Ashanti Ltd-2011 </text> <text top="300" left="87" width="60" height="16" font="26"> District </text> <text top="322" left="87" width="77" height="16" font="26">/Municipal </text> <text top="344" left="87" width="71" height="16" font="26">Assembly </text> <text top="299" left="211" width="81" height="13" font="75">March 2010 </text> <text top="319" left="211" width="52" height="13" font="75">release </text> <text top="353" left="211" width="36" height="13" font="75">GHS </text> <text top="387" left="211" width="5" height="14" font="72"> </text> <text top="299" left="350" width="112" height="13" font="75">September 2010 </text> <text top="319" left="350" width="52" height="13" font="75">release </text> <text top="353" left="350" width="36" height="13" font="75">GHS </text> <text top="299" left="520" width="36" height="13" font="75">Total </text> <text top="333" left="520" width="45" height="13" font="75">(GHS) </text> <text top="367" left="87" width="92" height="16" font="26">Amount due </text> <text top="390" left="87" width="93" height="16" font="26">from release </text> <text top="427" left="87" width="55" height="14" font="37">OBUASI </text> <text top="447" left="87" width="87" height="14" font="37">MUN1ICIPAL </text> <text top="448" left="174" width="4" height="13" font="38"> </text> <text top="448" left="220" width="122" height="13" font="38"> 108,466.51 </text> <text top="448" left="391" width="122" height="13" font="38"> 225,269.34 </text> <text top="448" left="631" width="85" height="13" font="38"> 333,735.85 </text> <text top="483" left="87" width="106" height="14" font="37">ADANSI SOUTH </text> <text top="484" left="220" width="122" height="13" font="38"> 30,990.12 </text> <text top="484" left="391" width="122" height="13" font="38"> 64,362.03 </text> <text top="484" left="631" width="85" height="13" font="38"> 95,352.15 </text> <text top="519" left="87" width="107" height="14" font="37">ADANSI NORTH </text> <text top="519" left="220" width="122" height="13" font="38"> 15,495.06 </text> <text top="519" left="391" width="122" height="13" font="38"> 32,181.01 </text> <text top="519" left="631" width="85" height="13" font="38"> 47,676.08 </text> <text top="554" left="87" width="57" height="14" font="37">BEKWAI </text> <text top="574" left="87" width="83" height="14" font="37">MUNICIPAL </text> <text top="575" left="220" width="122" height="13" font="38"> 15,058.43 </text> <text top="575" left="391" width="122" height="13" font="38"> 31,274.20 </text> <text top="575" left="631" width="85" height="13" font="38"> 46,332.64 </text> <text top="610" left="87" width="65" height="14" font="37">AMANSIE </text> <text top="630" left="87" width="74" height="14" font="37">CENTRAL </text> <text top="629" left="161" width="5" height="16" font="0"><b> </b></text> <text top="631" left="220" width="122" height="13" font="38"> 27,965.41 </text> <text top="631" left="391" width="122" height="13" font="38"> 58,080.13 </text> <text top="631" left="631" width="85" height="13" font="38"> 86,045.53 </text> <text top="666" left="87" width="46" height="16" font="25"><b>Total </b></text> <text top="665" left="220" width="122" height="13" font="77"><b> 197,975.54 </b></text> <text top="700" left="334" width="5" height="16" font="25"><b> </b></text> <text top="665" left="391" width="122" height="13" font="77"><b> 411,166.72 </b></text> <text top="700" left="505" width="5" height="16" font="25"><b> </b></text> <text top="665" left="635" width="81" height="13" font="77"><b>609,142.25 </b></text> <text top="699" left="708" width="4" height="13" font="75"> </text> <text top="737" left="92" width="235" height="17" font="18">Source: OASL ASHANTI REGION </text> <text top="774" left="92" width="5" height="16" font="3"> </text> <text top="811" left="92" width="5" height="16" font="3"> </text> <text top="848" left="92" width="5" height="16" font="3"> </text> <text top="885" left="92" width="5" height="16" font="3"> </text> <text top="922" left="92" width="5" height="16" font="3"> </text> <text top="959" left="92" width="5" height="17" font="2"> </text> <text top="998" left="92" width="5" height="17" font="2"> </text> <text top="1037" left="92" width="5" height="17" font="2"> </text> <text top="1076" left="92" width="5" height="17" font="2"> </text> </page> <page number="44" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">35 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="518" height="17" font="18">Table 8.4.2: Royalty disbursement due /Amount paid by OASL in 2011. </text> <text top="185" left="631" width="5" height="16" font="3"> </text> <text top="222" left="631" width="5" height="16" font="3"> </text> <text top="258" left="631" width="5" height="16" font="3"> </text> <text top="295" left="631" width="5" height="16" font="3"> </text> <text top="332" left="631" width="5" height="16" font="3"> </text> <text top="354" left="631" width="5" height="16" font="3"> </text> <text top="377" left="631" width="5" height="16" font="3"> </text> <text top="399" left="631" width="5" height="16" font="3"> </text> <text top="421" left="631" width="5" height="16" font="3"> </text> <text top="444" left="631" width="5" height="16" font="3"> </text> <text top="465" left="92" width="468" height="17" font="18">Source: OASL-Ashanti Region/Compilation by Boas &amp; Associates. </text> <text top="488" left="440" width="4" height="14" font="3"> </text> <text top="511" left="100" width="573" height="16" font="3">Obuasi Municipal Assembly should have received GHS 225,269.34 instead of the </text> <text top="530" left="100" width="125" height="16" font="3">GHS197, 982.89. </text> <text top="550" left="747" width="5" height="16" font="3"> </text> <text top="550" left="100" width="5" height="16" font="3"> </text> <text top="569" left="100" width="651" height="16" font="3">Total disbursement for the September payment should be GHS 411,166.72 instead of GHS </text> <text top="588" left="100" width="207" height="16" font="3">361,364.41(See Appendix 6) </text> <text top="608" left="92" width="4" height="14" font="3"> </text> <text top="645" left="92" width="203" height="16" font="11"><b>BRONG-AHAFO REGION. </b></text> <text top="681" left="92" width="525" height="15" font="36">Table 8.4.3: Amount due to Asutifi District Assembly/Amount paid by OASL-2011 </text> <text top="703" left="92" width="206" height="16" font="26">Releases from OASL in 2010 </text> <text top="703" left="323" width="93" height="16" font="26">Amount Due </text> <text top="722" left="323" width="48" height="16" font="26">(GHS) </text> <text top="703" left="468" width="165" height="16" font="26"> Amount paid by OASL </text> <text top="722" left="468" width="58" height="16" font="26"> (GHS) </text> <text top="742" left="92" width="88" height="16" font="3">March 2011 </text> <text top="742" left="323" width="89" height="13" font="38"> 395,279.74 </text> <text top="759" left="323" width="5" height="16" font="3"> </text> <text top="742" left="468" width="77" height="14" font="3">395,279.70 </text> <text top="762" left="468" width="5" height="16" font="3"> </text> <text top="787" left="92" width="122" height="16" font="3">September 2011 </text> <text top="786" left="323" width="89" height="13" font="38"> 997,698.84 </text> <text top="804" left="323" width="5" height="16" font="3"> </text> <text top="787" left="468" width="77" height="14" font="3">877,669.30 </text> <text top="823" left="92" width="278" height="17" font="18">Source: OASL BRONG-AHAFO REGION </text> <text top="861" left="80" width="724" height="16" font="3"> For the release of 30/9/11 transfer to Asutifi District Assembly which relates to the period January to </text> <text top="880" left="80" width="268" height="16" font="3"> April 2011 appears to have reduced. </text> <text top="899" left="80" width="739" height="16" font="3"> Whereas the OASL paid an amount of GHS 877,669.30, the Reconciler&#8217;s computations indicate that an </text> <text top="919" left="80" width="494" height="16" font="3"> amount of GHS 997,698 should have been paid (see Appendix 6B2). </text> <text top="938" left="92" width="4" height="14" font="3"> </text> <text top="976" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1012" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1049" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1086" left="92" width="5" height="16" font="0"><b> </b></text> <text top="186" left="92" width="145" height="16" font="25"><b>District Assembly </b></text> <text top="186" left="260" width="103" height="16" font="25"><b>Amount due </b></text> <text top="186" left="455" width="115" height="16" font="25"><b>Transfer from </b></text> <text top="206" left="455" width="50" height="16" font="25"><b>OASL-</b></text> <text top="225" left="455" width="128" height="16" font="25"><b>ASHANTI(GHS) </b></text> <text top="246" left="92" width="143" height="16" font="0"><b>Obuasi Municipal </b></text> <text top="245" left="362" width="85" height="13" font="38"> 333,735.86 </text> <text top="246" left="536" width="77" height="15" font="0"><b>306,449.33 </b></text> <text top="278" left="92" width="111" height="16" font="0"><b>Adansi South </b></text> <text top="278" left="244" width="5" height="16" font="0"><b> </b></text> <text top="278" left="362" width="85" height="13" font="38"> 95,352.15 </text> <text top="295" left="439" width="4" height="13" font="38"> </text> <text top="278" left="544" width="69" height="15" font="0"><b>87,556.95 </b></text> <text top="298" left="610" width="5" height="16" font="0"><b> </b></text> <text top="319" left="92" width="110" height="16" font="0"><b>Adansi North </b></text> <text top="318" left="366" width="77" height="13" font="38"> 47,676.08 </text> <text top="319" left="544" width="69" height="15" font="0"><b>43,778.48 </b></text> <text top="338" left="610" width="4" height="15" font="0"><b> </b></text> <text top="362" left="92" width="146" height="16" font="0"><b>Bekwai Municipal </b></text> <text top="362" left="374" width="73" height="13" font="38">46,332.64 </text> <text top="362" left="544" width="69" height="15" font="0"><b>42,544.57 </b></text> <text top="382" left="610" width="5" height="16" font="0"><b> </b></text> <text top="411" left="92" width="137" height="16" font="0"><b>Amansie Central </b></text> <text top="410" left="374" width="69" height="13" font="76"><b>86,045.53 </b></text> <text top="411" left="544" width="69" height="15" font="0"><b>79,011.34 </b></text> <text top="431" left="610" width="5" height="16" font="0"><b> </b></text> </page> <page number="45" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">36 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="156" height="16" font="11"><b>WESTERN REGION </b></text> <text top="198" left="92" width="493" height="15" font="36">Table 8.4.4 Disbursement from OASL to District /Municipal Assemblies-2011<b> </b></text> <text top="220" left="106" width="151" height="16" font="25"><b>District/Municipal </b></text> <text top="243" left="106" width="87" height="16" font="25"><b>Assembly: </b></text> <text top="220" left="268" width="105" height="16" font="25"><b>Amount Due </b></text> <text top="257" left="268" width="39" height="16" font="25"><b>GHS </b></text> <text top="220" left="434" width="179" height="16" font="25"><b>Amount paid by OASL </b></text> <text top="257" left="434" width="44" height="16" font="25"><b> GHS </b></text> <text top="295" left="106" width="66" height="16" font="0"><b>Prestea </b></text> <text top="295" left="214" width="43" height="16" font="0"><b>Huni </b></text> <text top="317" left="106" width="54" height="16" font="0"><b>Valley </b></text> <text top="294" left="328" width="97" height="13" font="38"> 1,616,179.30 </text> <text top="329" left="418" width="5" height="16" font="3"> </text> <text top="295" left="576" width="69" height="14" font="3">1,558,575 </text> <text top="332" left="641" width="5" height="16" font="3"> </text> <text top="369" left="106" width="135" height="13" font="38">Mpohor Wassa East </text> <text top="403" left="106" width="5" height="16" font="0"><b> </b></text> <text top="369" left="328" width="97" height="13" font="38"> 234,315.11 </text> <text top="403" left="418" width="4" height="13" font="38"> </text> <text top="370" left="588" width="57" height="14" font="3">213,726 </text> <text top="407" left="641" width="5" height="16" font="3"> </text> <text top="444" left="106" width="111" height="16" font="3">Tarkwa Nsuem </text> <text top="444" left="328" width="97" height="13" font="38"> 1,345,857.84 </text> <text top="478" left="418" width="4" height="13" font="38"> </text> <text top="444" left="576" width="69" height="14" font="3">1,340,191 </text> <text top="481" left="641" width="5" height="16" font="3"> </text> <text top="519" left="106" width="116" height="16" font="3">Bibiani/Ahwiaso </text> <text top="541" left="106" width="55" height="16" font="3">Bekwai </text> <text top="519" left="333" width="94" height="13" font="38"> 213,831.48 </text> <text top="553" left="418" width="4" height="13" font="38"> </text> <text top="519" left="588" width="57" height="14" font="3">218,876 </text> <text top="556" left="641" width="5" height="16" font="3"> </text> <text top="594" left="106" width="93" height="16" font="0"><b>Total </b></text> <text top="594" left="332" width="90" height="15" font="0"><b>3,493,630.77 </b></text> <text top="631" left="418" width="4" height="15" font="0"><b> </b></text> <text top="594" left="576" width="69" height="15" font="0"><b>3,331,368 </b></text> <text top="631" left="641" width="4" height="15" font="0"><b> </b></text> <text top="669" left="92" width="406" height="15" font="13"><i><b> Source</b>: Western region OASL/Boas &amp; Associates compilation. </i></text> <text top="709" left="92" width="5" height="16" font="0"><b> </b></text> <text top="733" left="92" width="5" height="16" font="0"><b> </b></text> <text top="770" left="92" width="5" height="16" font="0"><b> </b></text> <text top="807" left="92" width="5" height="16" font="0"><b> </b></text> <text top="843" left="92" width="5" height="16" font="0"><b> </b></text> <text top="880" left="92" width="5" height="16" font="0"><b> </b></text> <text top="917" left="92" width="5" height="16" font="0"><b> </b></text> <text top="954" left="92" width="5" height="16" font="0"><b> </b></text> <text top="991" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1028" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1065" left="92" width="5" height="16" font="0"><b> </b></text> </page> <page number="46" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="99" size="13" family="Times" color="#0000ff"/> <text top="107" left="92" width="673" height="15" font="15"><i>F inal Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">37 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="422" height="16" font="11"><b>8.5 UTILIZATION OF MINERAL ROYALTY RECEIPTS. </b></text> <text top="198" left="92" width="504" height="14" font="39">Table 8.5.1: Obuasi Municipal Assembly: Utilization of Mineral Royalty Receipts (2011) </text> <text top="218" left="92" width="27" height="14" font="72">No. </text> <text top="218" left="133" width="48" height="14" font="72">Details </text> <text top="218" left="390" width="176" height="14" font="72">Expenditure(Amount)GHC) </text> <text top="254" left="92" width="12" height="14" font="72">1 </text> <text top="253" left="133" width="245" height="14" font="37"> Rehabilitation of 4 unit classroom </text> <text top="274" left="133" width="127" height="14" font="37">block at Pomposo. </text> <text top="254" left="390" width="69" height="14" font="37">56,063.58 </text> <text top="309" left="92" width="12" height="14" font="72">2 </text> <text top="309" left="133" width="250" height="14" font="37">Rehabilitation of 6 unit classroom </text> <text top="330" left="133" width="96" height="14" font="37">block at Boate </text> <text top="309" left="390" width="69" height="14" font="37">61,290.27 </text> <text top="365" left="92" width="12" height="14" font="72">3 </text> <text top="365" left="133" width="245" height="14" font="37">Supported the construction of 8 unit </text> <text top="386" left="133" width="165" height="14" font="37">classroom block at Boate </text> <text top="365" left="390" width="69" height="14" font="37">25,000.00 </text> <text top="421" left="92" width="12" height="14" font="72">4 </text> <text top="421" left="133" width="245" height="14" font="37">Rehabilitation of a 6 unit Classroom </text> <text top="441" left="133" width="192" height="14" font="37">Block at New Nsuta(Support) </text> <text top="421" left="390" width="69" height="14" font="37">25,000.00 </text> <text top="477" left="92" width="12" height="14" font="72">5 </text> <text top="477" left="133" width="245" height="14" font="37">Rehabilitation of 6 units Classroom </text> <text top="497" left="133" width="217" height="14" font="37">Block at Estate Presbyterian JHS. </text> <text top="477" left="390" width="69" height="14" font="37">89,883.11 </text> <text top="533" left="92" width="12" height="14" font="72">6 </text> <text top="533" left="133" width="84" height="14" font="37">Scholarships </text> <text top="533" left="390" width="69" height="14" font="37">40,850.00 </text> <text top="578" left="92" width="12" height="14" font="72">7 </text> <text top="578" left="133" width="132" height="14" font="37">Waste Management </text> <text top="578" left="390" width="77" height="14" font="37">129,741.46 </text> <text top="624" left="92" width="5" height="14" font="72"> </text> <text top="624" left="133" width="37" height="14" font="37">Total </text> <text top="624" left="390" width="88" height="14" font="35"><b>427,828.42 </b></text> <text top="668" left="92" width="264" height="15" font="99"><b>Source: Obuasi Municipal Assembly </b></text> <text top="704" left="92" width="4" height="14" font="35"><b> </b></text> <text top="739" left="92" width="683" height="16" font="11"><b>8.6 ROYALTY LODGEMENTS AND EXPENDITURES FROM THE MDF ACCOUNT IN 2011 </b></text> <text top="776" left="92" width="700" height="16" font="3">Appendix 7 shows royalties paid into MDF account at Bank of Ghana by Controller and Accountant </text> <text top="798" left="92" width="409" height="16" font="3">General and monies expended from the account in 2011. </text> <text top="835" left="92" width="675" height="16" font="3">Total lodgments into the MDF account in 2011 amounted to GHS16.080 million with GHS9.230 </text> <text top="857" left="92" width="397" height="16" font="3">million as withdrawals for mining sector expenditures. </text> <text top="894" left="92" width="668" height="16" font="3">The expenditure analysis indicates that GHS 889,714 was spent on salaries and salary related </text> <text top="916" left="92" width="683" height="16" font="3">expenditures on a distressed mining company, GHS 8.341 million on developmental and service </text> <text top="939" left="92" width="700" height="16" font="3">activities of mining sector agencies and institutions with GHS 31.00 spent on incidental expenses. <b> </b></text> <text top="975" left="92" width="40" height="13" font="38"> </text> <text top="992" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1029" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1066" left="92" width="5" height="16" font="0"><b> </b></text> </page> <page number="47" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">38 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="323" height="16" font="25"><b>9.0 CHALLENGES IN IMPLEMENTATION </b></text> <text top="200" left="105" width="4" height="15" font="24"> </text> <text top="199" left="118" width="643" height="16" font="3">The 2010/2011 encountered a lot of challenges. The major challenge was the provision of </text> <text top="219" left="118" width="594" height="16" font="3">relevant data. Since the entire reconciliation exercise hinges on data obtained from </text> <text top="238" left="118" width="644" height="16" font="3">participants, the acquisition of data is on the critical path of the process. Any delay affects </text> <text top="257" left="118" width="360" height="16" font="3">significantly the timely completion of the exercise. </text> <text top="277" left="85" width="5" height="16" font="3"> </text> <text top="315" left="105" width="4" height="15" font="24"> </text> <text top="314" left="118" width="652" height="16" font="3">The high turnover of staff within the Mining companies also posed a lot of challenges. Staff </text> <text top="333" left="118" width="647" height="16" font="3">members with understanding of the process left the employment of their companies in the </text> <text top="352" left="118" width="647" height="16" font="3">middle of the process. Mining Companies are advised to open up the EITI process to more </text> <text top="372" left="118" width="594" height="16" font="3">staff members in functional areas that provide inputs for the reconciliation process. </text> <text top="391" left="85" width="5" height="16" font="3"> </text> <text top="429" left="105" width="4" height="15" font="24"> </text> <text top="428" left="118" width="674" height="16" font="3">Another challenge was the timing of the exercise. It is recommended that as much as possible </text> <text top="448" left="118" width="603" height="16" font="3">the last three months of the calendar year should be avoided since during that time, </text> <text top="467" left="118" width="611" height="16" font="3">participants are usually engaged on various audit activities in fulfillment of company&#8217;s </text> <text top="486" left="118" width="649" height="16" font="3">statutory requirements. As such EITI requests are oftentimes placed on secondary priority. </text> <text top="505" left="92" width="5" height="16" font="3"> </text> <text top="543" left="105" width="4" height="15" font="24"> </text> <text top="543" left="118" width="626" height="16" font="3">The SAP IT solution did not provide the anticipated impetus. It is recommended that its </text> <text top="562" left="118" width="563" height="16" font="3">contribution be reviewed as it has the potential to reduce the reporting period. </text> <text top="581" left="92" width="5" height="16" font="0"><b> </b></text> <text top="618" left="92" width="5" height="16" font="3"> </text> <text top="655" left="92" width="5" height="16" font="3"> </text> <text top="692" left="92" width="5" height="16" font="3"> </text> <text top="729" left="92" width="5" height="16" font="3"> </text> <text top="766" left="92" width="5" height="16" font="3"> </text> <text top="803" left="92" width="5" height="16" font="3"> </text> <text top="840" left="92" width="5" height="16" font="3"> </text> <text top="876" left="92" width="5" height="16" font="3"> </text> <text top="913" left="92" width="5" height="16" font="3"> </text> <text top="950" left="92" width="5" height="16" font="3"> </text> <text top="987" left="92" width="5" height="16" font="3"> </text> <text top="1024" left="92" width="5" height="16" font="3"> </text> <text top="1061" left="92" width="5" height="16" font="3"> </text> </page> <page number="48" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">39 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="424" height="16" font="25"><b>10.0 OBSERVATIONS AND SIGNIFICANT FINDINGS. </b></text> <text top="202" left="92" width="419" height="16" font="11"><b>10.1 Reporting Currency in Reconciliation Exercise: </b></text> <text top="226" left="92" width="702" height="16" font="3">The GRA has requested mining companies to pay royalty and corporate tax in US dollars. </text> <text top="248" left="92" width="702" height="16" font="3">Although the receipts provided by the GRA are all in cedis, most of the mining companies provide </text> <text top="270" left="92" width="331" height="16" font="3">templates with US$ as the reporting currency. </text> <text top="307" left="92" width="702" height="16" font="3">The GRA provides receipts in cedis for dollar payments. Some companies are unable to provide </text> <text top="330" left="92" width="691" height="16" font="3">amounts paid in cedis. This creates unnecessary discrepancies and delay reconciliation exercise. </text> <text top="366" left="92" width="184" height="17" font="18">10.1.1 Recommendation: </text> <text top="403" left="92" width="702" height="16" font="3">In order to avoid discrepancies created by currency translations it is important that the companies </text> <text top="426" left="92" width="702" height="16" font="3">provide figures in cedis as found on the receipts provided by the GRA. The GRA should also </text> <text top="448" left="92" width="480" height="16" font="3">endeavor to keep records of all US dollar payments by companies. </text> <text top="485" left="92" width="717" height="16" font="3">-The GRA&#8217;S request to companies to make payments in US dollars may necessitate reviewing the </text> <text top="507" left="92" width="200" height="16" font="3">currency for EITI reporting. </text> <text top="544" left="92" width="5" height="16" font="0"><b> </b></text> <text top="581" left="92" width="572" height="16" font="11"><b>10.2 Submission of additional information by participating companies</b>. </text> <text top="618" left="92" width="702" height="16" font="3">Participating companies were willing to provide information on payments made to government on </text> <text top="640" left="92" width="702" height="16" font="3">the revenue streams. However they appear reluctant to provide details on production costs and </text> <text top="662" left="92" width="460" height="16" font="3">other information required to fully meet the terms of reference. </text> <text top="699" left="123" width="5" height="16" font="3"> </text> <text top="719" left="92" width="702" height="16" font="3">Undue delays arise from waiting for such information. The reconciler, due to time constraints had </text> <text top="741" left="92" width="516" height="16" font="3">to conclude the report without the provision of the relevant information. </text> <text top="777" left="92" width="184" height="17" font="18">10.2.1 Recommendation: </text> <text top="815" left="92" width="702" height="16" font="3">The Steering committee should deliberate with representatives of the participating companies on </text> <text top="837" left="92" width="598" height="16" font="3">the need to provide additional information other than payments to the government. </text> <text top="874" left="123" width="5" height="16" font="3"> </text> <text top="893" left="92" width="675" height="16" font="3">The terms of reference may be amended in accordance with the outcome of such interactions. </text> <text top="931" left="92" width="193" height="17" font="19"><b>10.3 Mineral Royalty: </b></text> <text top="969" left="92" width="702" height="16" font="3">Mineral royalty, which is a production based tax is paid quarterly. In the years 2010 and 2011, </text> <text top="991" left="92" width="702" height="16" font="3">some companies such as Goldfields Ghana Ltd, Abosso Goldfields Ltd and Newmont Ghana Gold </text> <text top="1014" left="92" width="702" height="16" font="3">Ltd, paid royalties more than four times. For example in 2011 Newmont Ghana Gold Ltd paid </text> <text top="1036" left="92" width="260" height="16" font="3">royalty on eight separate occasions. </text> </page> <page number="49" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">40 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="702" height="16" font="3">Whilst the frequency of payments in the case of Newmont Ghana Gold Ltd may have resulted </text> <text top="185" left="92" width="702" height="16" font="3">from its decision to pay royalties on monthly basis, it was not clear the reasons behind the </text> <text top="207" left="92" width="448" height="16" font="3">payments by Gold Fields Ghana Ltd and Abosso Goldfields Ltd. </text> <text top="244" left="92" width="701" height="16" font="3">The consequence is that it was a challenge establishing whether the correct amounts have been </text> <text top="266" left="92" width="701" height="16" font="3">made. This is because royalty payment is based on production. Without specific periods of </text> <text top="288" left="92" width="550" height="16" font="3">payments indicated, matching production against royalty proved challenging. </text> <text top="325" left="92" width="507" height="16" font="3">Additionally companies may result in splitting the payment of royalties. </text> <text top="361" left="92" width="191" height="17" font="18">10.3.1 Recommendations: </text> <text top="399" left="92" width="702" height="17" font="2">It is very important to establish the frequency of payment of royalty. The regulations on </text> <text top="424" left="92" width="702" height="17" font="2">royalty payment that sought to introduce monthly royalty payments should be </text> <text top="448" left="92" width="353" height="17" font="2">implemented. This will ensure transparency. </text> <text top="487" left="92" width="695" height="16" font="3">With the ageing mines experiencing negative growth, it signals a potential national output slum if </text> <text top="509" left="92" width="406" height="16" font="3">strategic investments and decisions are not made now. </text> <text top="546" left="92" width="5" height="16" font="11"><b> </b></text> <text top="580" left="92" width="165" height="16" font="11"><b>10.4 Hedged Prices</b>. </text> <text top="614" left="92" width="686" height="16" font="3">The issue of payment of royalties on hedged gold sales appears to be persisting. An example is </text> <text top="636" left="92" width="688" height="16" font="3">Adamus Resources which have posted consistently reduced incomes resulting from hedge prices </text> <text top="658" left="92" width="249" height="16" font="3">from July to Dec 2011. See below. </text> <text top="696" left="92" width="4" height="16" font="17"> </text> <text top="719" left="92" width="88" height="16" font="17">Table 10.4.: </text> <text top="718" left="181" width="349" height="16" font="3">Adamus Resources hedge and spot price analysis</text> <text top="719" left="529" width="4" height="16" font="17"> </text> <text top="741" left="92" width="43" height="15" font="3">DATE </text> <text top="741" left="170" width="43" height="15" font="3">GOLD </text> <text top="760" left="170" width="35" height="18" font="3">(OZ)<b> </b></text> <text top="741" left="257" width="230" height="18" font="3"> HEDGE SPOT <b> </b> </text> <text top="760" left="448" width="57" height="18" font="3">DIFF($)<b> </b></text> <text top="741" left="534" width="35" height="15" font="3">ADD </text> <text top="760" left="534" width="72" height="18" font="3">REVENUE<b> </b></text> <text top="741" left="639" width="35" height="15" font="3">ADD </text> <text top="760" left="639" width="91" height="18" font="3">ROYALTY($)<b> </b></text> <text top="781" left="155" width="4" height="14" font="3"> </text> <text top="800" left="123" width="4" height="14" font="3"> </text> <text top="781" left="241" width="4" height="15" font="0"><b> </b></text> <text top="781" left="340" width="4" height="15" font="0"><b> </b></text> <text top="781" left="432" width="19" height="15" font="0"><b> </b></text> <text top="781" left="534" width="36" height="15" font="0"><b> </b></text> <text top="781" left="639" width="51" height="15" font="0"><b> </b></text> <text top="820" left="92" width="49" height="14" font="3">7/7/11 </text> <text top="820" left="196" width="48" height="14" font="3">543.24 </text> <text top="839" left="241" width="4" height="14" font="3"> </text> <text top="820" left="287" width="57" height="14" font="3">1074.03 </text> <text top="820" left="372" width="48" height="14" font="3">1527.8 </text> <text top="820" left="460" width="48" height="14" font="3">453.77 </text> <text top="820" left="542" width="77" height="14" font="3">246,508.28 </text> <text top="820" left="656" width="69" height="14" font="3">12,325.41 </text> <text top="859" left="92" width="57" height="14" font="26">13/7/11 </text> <text top="859" left="179" width="57" height="14" font="26">1500.00 </text> <text top="859" left="272" width="57" height="14" font="26">1074.10 </text> <text top="859" left="378" width="36" height="14" font="26">1571 </text> <text top="859" left="464" width="40" height="14" font="26">496.9 </text> <text top="859" left="542" width="77" height="14" font="26">745,350.00 </text> <text top="859" left="656" width="69" height="14" font="26">37,267.50 </text> <text top="882" left="93" width="65" height="14" font="3">3/8/2011 </text> <text top="882" left="179" width="57" height="14" font="3">1000.00 </text> <text top="882" left="272" width="57" height="14" font="3">1074.31 </text> <text top="882" left="367" width="57" height="14" font="3">1621.75 </text> <text top="882" left="460" width="48" height="14" font="3">547.44 </text> <text top="882" left="542" width="77" height="14" font="3">547,440.00 </text> <text top="882" left="656" width="69" height="14" font="3">27,372.00 </text> <text top="905" left="93" width="65" height="14" font="26">3/8/2011 </text> <text top="905" left="179" width="57" height="14" font="26">1000.00 </text> <text top="905" left="272" width="57" height="14" font="26">1074.29 </text> <text top="905" left="367" width="57" height="14" font="26">1621.75 </text> <text top="905" left="460" width="48" height="14" font="26">547.46 </text> <text top="905" left="542" width="77" height="14" font="26">547,460.00 </text> <text top="905" left="656" width="69" height="14" font="26">27,373.00 </text> <text top="928" left="93" width="65" height="14" font="3">8/8/2011 </text> <text top="928" left="179" width="57" height="14" font="3">1733.25 </text> <text top="928" left="276" width="48" height="14" font="3">1074.4 </text> <text top="928" left="372" width="48" height="14" font="3">1702.6 </text> <text top="928" left="464" width="40" height="14" font="3">628.2 </text> <text top="928" left="536" width="89" height="14" font="3">1,088,833.30 </text> <text top="928" left="656" width="69" height="14" font="3">54,441.67 </text> <text top="951" left="92" width="57" height="14" font="26">24/8/11 </text> <text top="951" left="179" width="57" height="14" font="26">1000.00 </text> <text top="951" left="272" width="57" height="14" font="26">1074.72 </text> <text top="951" left="372" width="48" height="14" font="26">1702.6 </text> <text top="951" left="460" width="48" height="14" font="26">627.88 </text> <text top="951" left="542" width="77" height="14" font="26">627,880.00 </text> <text top="951" left="656" width="69" height="14" font="26">31,394.00 </text> <text top="974" left="93" width="65" height="14" font="3">6/9/2011 </text> <text top="974" left="183" width="48" height="14" font="3">350.41 </text> <text top="974" left="272" width="57" height="14" font="3">1061.39 </text> <text top="974" left="367" width="57" height="14" font="3">1831.75 </text> <text top="974" left="460" width="48" height="14" font="3">770.36 </text> <text top="974" left="542" width="77" height="14" font="3">269,944.16 </text> <text top="974" left="656" width="69" height="14" font="3">13,497.21 </text> <text top="997" left="92" width="57" height="14" font="26">14/9/11 </text> <text top="997" left="183" width="49" height="15" font="25"><b>917.08 </b></text> <text top="997" left="272" width="57" height="15" font="25"><b>1061.37 </b></text> <text top="997" left="367" width="57" height="15" font="25"><b>1831.75 </b></text> <text top="997" left="460" width="49" height="15" font="25"><b>770.38 </b></text> <text top="997" left="542" width="77" height="15" font="25"><b>706,502.40 </b></text> <text top="997" left="656" width="69" height="15" font="25"><b>35,325.12 </b></text> <text top="1020" left="92" width="4" height="14" font="3"> </text> <text top="1039" left="92" width="38" height="15" font="0"><b>Total </b></text> <text top="1020" left="170" width="4" height="15" font="0"><b> </b></text> <text top="1020" left="257" width="4" height="15" font="0"><b> </b></text> <text top="1020" left="356" width="4" height="15" font="0"><b> </b></text> <text top="1020" left="448" width="7" height="15" font="0"><b> </b></text> <text top="1020" left="534" width="22" height="15" font="0"><b> </b></text> <text top="1039" left="534" width="93" height="15" font="0"><b>4,779,918.15 </b></text> <text top="1020" left="639" width="36" height="15" font="0"><b> </b></text> <text top="1039" left="639" width="81" height="15" font="0"><b>238,995.91 </b></text> <text top="1060" left="92" width="339" height="15" font="36">Source: Adamus refinery returns/Boas compilations. </text> </page> <page number="50" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="100" size="9" family="Times" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">41 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="163" left="92" width="196" height="16" font="17">As indicated above, in the 3</text> <text top="159" left="287" width="10" height="11" font="100">rd</text> <text top="163" left="298" width="436" height="16" font="17"> quarter 2011, about $ 238,995 was lost through gold hedging.</text> <text top="162" left="733" width="5" height="16" font="3"> </text> <text top="185" left="92" width="699" height="16" font="3">Adamus Resources Ltd did not indicate any royalty payments for silver by-product associated with </text> <text top="208" left="92" width="183" height="16" font="3">gold production in 2011. </text> <text top="244" left="92" width="184" height="17" font="18">10.4.1 Recommendation: </text> <text top="282" left="92" width="694" height="16" font="3">The GRA is requested to review Adamus royalty payments and also ensure that royalty payments </text> <text top="304" left="92" width="401" height="16" font="3">by all companies take the spot price into consideration. </text> <text top="341" left="92" width="491" height="16" font="3">Silver revenue should also be included in the computation of royalty. </text> <text top="378" left="92" width="5" height="17" font="32"><b> </b></text> <text top="399" left="92" width="225" height="16" font="11"><b>10.5 Transfers in Tranches: </b></text> <text top="437" left="92" width="423" height="16" font="0"><b> </b>Some regional offices of the OASL did not transfer in full</text> <text top="436" left="515" width="79" height="17" font="2"> amounts </text> <text top="437" left="595" width="198" height="16" font="3">due to District Assemblies. </text> <text top="460" left="92" width="701" height="16" font="3">For example the Brong-Ahafo regional OASL office received a transfer of royalty from the head </text> <text top="482" left="92" width="702" height="16" font="3">office on 15/2/2010. However Asutifi District was paid in two tranches of GHS 263,394.48 and </text> <text top="505" left="92" width="430" height="16" font="3">GHS278926.85 on the 2/3/2010 and 1/4/2010 respectively. </text> <text top="505" left="565" width="5" height="16" font="3"> </text> <text top="541" left="92" width="184" height="17" font="18">10.5.1 Recommendation: </text> <text top="578" left="92" width="701" height="16" font="3">District Assemblies should be paid in full and immediately when funds are received from Accra. </text> <text top="601" left="92" width="480" height="16" font="3">Amounts due to District Assemblies should not be paid in tranches. </text> <text top="638" left="92" width="5" height="16" font="3"> </text> <text top="675" left="92" width="199" height="16" font="11"><b>10.6 Omission of Funds: </b></text> <text top="711" left="92" width="701" height="16" font="3">During the disbursement of funds to District Assemblies, some of the receipts are left out. This </text> <text top="734" left="92" width="701" height="16" font="3">means the District Assemblies don&#8217;t receive funds on timely basis. For example the transfer of </text> <text top="756" left="92" width="701" height="16" font="3">March 2011 was for royalties paid from August-October 2010. The next transfer in September </text> <text top="778" left="92" width="701" height="16" font="3">related to royalties paid in January &#8211; February 2011. Thus payments for November and December </text> <text top="800" left="92" width="702" height="16" font="3">2010 were omitted. Meanwhile several companies including Ghana Bauxite Ltd, GSR(Wassa)Ltd, </text> <text top="823" left="92" width="701" height="16" font="3">GSR(Prestea/Bogosu) and Ghana Manganese Ltd made royalty payments in November 2011. </text> <text top="845" left="92" width="702" height="16" font="3">Thus District Assemblies that receive royalties from these companies shall be denied funds for </text> <text top="867" left="92" width="103" height="16" font="3">that transfer. </text> <text top="905" left="92" width="5" height="17" font="32"><b> </b></text> <text top="943" left="92" width="45" height="17" font="18">10.6.1</text> <text top="941" left="137" width="5" height="18" font="29"> </text> <text top="943" left="142" width="123" height="17" font="18">Recommendation</text> <text top="944" left="265" width="4" height="14" font="8"><i> </i></text> <text top="980" left="92" width="694" height="16" font="3">When disbursing royalties, it is important to include all the months. This should be irrespective of </text> <text top="1002" left="92" width="676" height="16" font="3">whether it is the end of the quarter or not. This will ensure that payments made by companies </text> <text top="1025" left="92" width="689" height="16" font="3">outside the designated months are captured. The GRA should ensure that companies do not pay </text> <text top="1047" left="92" width="389" height="16" font="3">royalties outside the stipulated months by applying the</text> <text top="1046" left="481" width="5" height="17" font="2"> </text> <text top="1047" left="487" width="287" height="16" font="3">necessary sanctions. The GRA indicated </text> <text top="1069" left="92" width="626" height="16" font="3">during interactions that it had already taken notice of the anomaly and is working on it. </text> </page> <page number="51" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">42 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="163" left="92" width="5" height="17" font="2"> </text> <text top="201" left="92" width="350" height="16" font="11"><b>10.7 Utilization of Mineral royalty receipts.</b> </text> <text top="238" left="92" width="522" height="16" font="3">Waste management still takes a significant portion of royalty utilization. </text> <text top="275" left="92" width="565" height="16" font="3">In 2010 waste management accounted for 40% of royalty utilization in Obuasi. </text> <text top="312" left="92" width="668" height="16" font="3">Although in 2011 waste management was 30% of royalty expenditure, it was still significant. </text> <text top="349" left="92" width="54" height="18" font="29">10.7.1 </text> <text top="350" left="146" width="134" height="17" font="18">Recommendation: </text> <text top="388" left="92" width="685" height="16" font="3">Guidelines for the utilization of royalty receipts by District Assemblies should be implemented as </text> <text top="410" left="92" width="681" height="16" font="3">early as possible. This will ensure that District Assemblies do not spend substantial amounts of </text> <text top="432" left="92" width="474" height="16" font="3">royalty receipts on recurring expenditure such as waste collection. </text> <text top="469" left="92" width="5" height="16" font="3"> </text> <text top="508" left="92" width="155" height="16" font="11"><b>10.8 Corporate Tax</b></text> <text top="507" left="247" width="12" height="17" font="19"><b>: </b></text> <text top="545" left="92" width="680" height="16" font="3">In computing corporate tax payable, Adamus Resources separated its pre-production costs into </text> <text top="567" left="92" width="636" height="16" font="3">losses carried forward and plant and machinery costs that qualified for capital allowance: </text> <text top="604" left="92" width="688" height="16" font="3">The Mining and Minerals Act(section 28) stipulate that &#8216;the holder of a mining lease is entitled to </text> <text top="626" left="92" width="691" height="16" font="3">the capitalization of expenditure on reconnaissance and prospecting approved by the Minister on </text> <text top="649" left="92" width="699" height="16" font="3">the advice of the Minerals Commission where the holder starts development of a commercial find. </text> <text top="685" left="92" width="184" height="17" font="18">10.8.1 Recommendati on: </text> <text top="723" left="92" width="690" height="16" font="3">Companies commencing exploitation of minerals should be made to capitalize all exploration and </text> <text top="745" left="92" width="649" height="16" font="3">development costs and amortize over five years i.e. 20% per annum. Allowing losses to be </text> <text top="767" left="92" width="654" height="16" font="3">carried forward separately before capital allowances are set off against profits may result in </text> <text top="790" left="92" width="358" height="16" font="3">prolonging the time for payment of corporate tax. </text> <text top="826" left="92" width="262" height="16" font="11"><b>10.9 Mineral Development Fund </b></text> <text top="863" left="92" width="659" height="16" font="3">There seems to be significant improvement in royalty transfers to the Fund compared to the </text> <text top="886" left="92" width="687" height="16" font="3">recent past. Inflows into the account in 2010 and 2011 exceeded outflows from the Fund. Some </text> <text top="908" left="92" width="698" height="16" font="3">lodgments appear not to be tailored to royalty transfer made into the account as was the practice </text> <text top="930" left="92" width="140" height="16" font="3">in the recent past. </text> <text top="967" left="92" width="643" height="16" font="3">The Ministry of Lands and Natural Resources which is supposed to have the oversight and </text> <text top="989" left="92" width="672" height="16" font="3">monitoring role over the state agency managing the Fund currently plays the role as spending </text> <text top="1011" left="92" width="636" height="16" font="3">agency. This creates supervisory and monitoring challenges to the Ministry. Sometimes it </text> <text top="1034" left="92" width="656" height="16" font="3">becomes difficult to track expenditures made from the Fund to the source documents in the </text> <text top="1056" left="92" width="679" height="16" font="3">accounting books of the Ministry. This is because funds are sometimes transferred in bulk from </text> </page> <page number="52" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">43 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="685" height="16" font="3">the MDF account to the Ministry&#8217;s subsector account for onward disbursements to mining sector </text> <text top="185" left="92" width="266" height="16" font="3">beneficiary agencies and institutions. </text> <text top="222" left="92" width="696" height="16" font="3">Moreover, since the Ministry has no signatory authorization to the MDF account at Bank of Ghana </text> <text top="244" left="92" width="692" height="16" font="3">it becomes difficult for it to request for MDF bank account statement from the Bank of Ghana for </text> <text top="266" left="92" width="177" height="16" font="3">reconciliation purposes. </text> <text top="303" left="92" width="5" height="16" font="3"> </text> <text top="339" left="92" width="187" height="17" font="18">10.10.1 Recommendation </text> <text top="377" left="92" width="683" height="16" font="3">To ensure effective monitoring and supervision of the Fund, an interim oversight agency should </text> <text top="399" left="92" width="684" height="16" font="3">be appointed to run the Fund prior to the appointment of a substantive Fund Manager. This will </text> <text top="421" left="92" width="698" height="16" font="3">enable the sector Ministry to play its supervisory and monitoring role effectively during this period </text> <text top="444" left="92" width="105" height="16" font="3">of transition. </text> <text top="481" left="92" width="5" height="16" font="0"><b> </b></text> <text top="518" left="92" width="5" height="16" font="0"><b> </b></text> <text top="554" left="92" width="4" height="14" font="3"> </text> <text top="591" left="92" width="4" height="14" font="3"> </text> <text top="629" left="92" width="4" height="14" font="3"> </text> <text top="666" left="92" width="4" height="14" font="3"> </text> <text top="703" left="92" width="4" height="14" font="3"> </text> <text top="740" left="92" width="4" height="14" font="3"> </text> <text top="777" left="92" width="4" height="14" font="3"> </text> <text top="814" left="92" width="4" height="14" font="3"> </text> <text top="852" left="92" width="4" height="14" font="3"> </text> <text top="889" left="92" width="4" height="14" font="3"> </text> <text top="926" left="92" width="4" height="14" font="3"> </text> <text top="963" left="92" width="4" height="14" font="3"> </text> <text top="1000" left="92" width="4" height="14" font="3"> </text> <text top="1037" left="92" width="4" height="14" font="3"> </text> <text top="1075" left="92" width="4" height="14" font="3"> </text> </page> <page number="53" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="101" size="27" family="Times" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">44 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="163" left="92" width="4" height="14" font="3"> </text> <text top="200" left="92" width="155" height="16" font="25"><b>11.0 CONCLUSION </b></text> <text top="237" left="111" width="4" height="15" font="24"> </text> <text top="236" left="125" width="669" height="16" font="3">The reconciliation report for 2010 and 2011 produced some discrepancies that should be </text> <text top="256" left="125" width="669" height="16" font="3">investigated further. Absolute discrepancies for 2010 and 2011 were GHS 47,460,012 and </text> <text top="275" left="125" width="649" height="16" font="3">GHS 202,828,263 respectively. Unresolved discrepancies amounted to<b> </b>GHS -5,080,964 and </text> <text top="295" left="92" width="364" height="16" font="3"> GHS 9,113,673 in 2010 and 2011 respectively. </text> <text top="332" left="111" width="4" height="15" font="24"> </text> <text top="331" left="125" width="669" height="16" font="3">Due to time constraints, the reconciler was unable to resolve all the discrepancies produced. </text> <text top="354" left="125" width="669" height="16" font="3">The companies and Government Agencies have been asked to produce further details to </text> <text top="376" left="125" width="325" height="16" font="3">assist in the resolution of the discrepancies. </text> <text top="414" left="111" width="4" height="15" font="24"> </text> <text top="413" left="125" width="652" height="16" font="3">Corporate tax payments exceeded mineral royalty in 2011. This is very significant as it may </text> <text top="432" left="125" width="598" height="16" font="3">mark the end of the initial investment recovery periods for major producers such as </text> <text top="452" left="125" width="626" height="16" font="3">Newmont Ghana Gold Ltd. The implementation of the Internal Revenue (Amendment) </text> <text top="471" left="125" width="654" height="16" font="3">Act,2012 ACT 839, which abolishes the 80% first year capital allowance and also deals with </text> <text top="491" left="125" width="520" height="16" font="3">ring fencing matters may further improve the collection of corporate tax. </text> <text top="510" left="92" width="5" height="16" font="3"> </text> <text top="548" left="111" width="4" height="15" font="24"> </text> <text top="547" left="125" width="656" height="16" font="3">Regulations on payment of mineral royalty need to be addressed. On the implementation of </text> <text top="566" left="125" width="618" height="16" font="3">the EITI process, stakeholders should discuss in detail the way forward especially with </text> <text top="585" left="125" width="419" height="16" font="3">regards to the provision of relevant data for reconciliation. </text> <text top="605" left="92" width="5" height="16" font="3"> </text> <text top="642" left="92" width="5" height="16" font="3"> </text> <text top="679" left="92" width="5" height="16" font="3"> </text> <text top="716" left="92" width="5" height="16" font="3"> </text> <text top="753" left="92" width="4" height="14" font="3"> </text> <text top="790" left="92" width="4" height="14" font="3"> </text> <text top="827" left="92" width="4" height="14" font="3"> </text> <text top="864" left="92" width="214" height="14" font="3"> </text> <text top="879" left="92" width="2" height="8" font="73">i</text> <text top="883" left="94" width="687" height="13" font="37"> Adamus Resources Ltd commenced production in the fourth quarter of 2010. First payment of royalty was in 2011. </text> <text top="897" left="92" width="4" height="8" font="73">ii</text> <text top="901" left="96" width="355" height="13" font="37"> Operating cost determination may vary among companies </text> <text top="915" left="92" width="6" height="8" font="73">iii</text> <text top="919" left="98" width="186" height="13" font="37"> Shareholding percentage as 31</text> <text top="915" left="284" width="7" height="8" font="73">st</text> <text top="919" left="291" width="108" height="13" font="37"> December, 2010. </text> <text top="933" left="92" width="6" height="8" font="73">iv</text> <text top="937" left="98" width="531" height="13" font="37"> Amount due is computed using payments made to the GRA by mining companies. It may </text> <text top="954" left="92" width="268" height="13" font="37"> be different from the releases to the OASL. </text> <text top="969" left="92" width="4" height="8" font="73">v</text> <text top="972" left="96" width="332" height="13" font="37"> Sharing ratio revised in December 2010 after payment. </text> <text top="990" left="92" width="3" height="13" font="37"> </text> <text top="1008" left="92" width="3" height="13" font="37"> </text> <text top="1027" left="92" width="4" height="16" font="32"><b> </b></text> <text top="1048" left="92" width="4" height="16" font="32"><b> </b></text> <text top="1072" left="92" width="214" height="28" font="101"><b> </b></text> </page> <page number="54" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="102" size="27" family="Times" color="#3232ff"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">45 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="185" left="92" width="9" height="28" font="101"><b> </b></text> <text top="220" left="92" width="9" height="28" font="101"><b> </b></text> <text top="256" left="92" width="9" height="28" font="101"><b> </b></text> <text top="291" left="92" width="9" height="28" font="101"><b> </b></text> <text top="326" left="92" width="9" height="28" font="102"><b> </b></text> <text top="326" left="514" width="9" height="28" font="102"><b> </b></text> <text top="361" left="92" width="9" height="28" font="102"><b> </b></text> <text top="397" left="92" width="9" height="28" font="102"><b> </b></text> <text top="432" left="92" width="9" height="28" font="102"><b> </b></text> <text top="467" left="92" width="9" height="28" font="102"><b> </b></text> <text top="502" left="92" width="9" height="28" font="102"><b> </b></text> <text top="538" left="345" width="200" height="28" font="102"><b>APPENDICES </b></text> <text top="593" left="92" width="9" height="28" font="101"><b> </b></text> <text top="628" left="92" width="9" height="28" font="101"><b> </b></text> <text top="663" left="92" width="9" height="28" font="101"><b> </b></text> <text top="698" left="92" width="9" height="28" font="101"><b> </b></text> <text top="734" left="92" width="9" height="28" font="101"><b> </b></text> <text top="769" left="92" width="9" height="28" font="101"><b> </b></text> <text top="804" left="92" width="9" height="28" font="101"><b> </b></text> <text top="839" left="92" width="9" height="28" font="101"><b> </b></text> <text top="875" left="92" width="9" height="28" font="101"><b> </b></text> <text top="930" left="92" width="9" height="28" font="101"><b> </b></text> <text top="985" left="92" width="9" height="28" font="101"><b> </b></text> <text top="1040" left="92" width="9" height="28" font="101"><b> </b></text> </page> <page number="55" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">46 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="182" left="92" width="4" height="14" font="3"> </text> <text top="219" left="92" width="294" height="16" font="11"><b>Appendix 1: TERMS OF REFERENCE: </b></text> <text top="256" left="92" width="407" height="16" font="3">The terms of reference for the assignment are as follow: </text> <text top="293" left="92" width="702" height="16" font="3">Under the terms of reference for the assignment the obligations of the aggregator shall include </text> <text top="315" left="92" width="263" height="16" font="3">the following: For the mining sector, </text> <text top="352" left="92" width="449" height="16" font="3">The Aggregator shall perform both process and financial audit. </text> <text top="389" left="92" width="702" height="16" font="3">The Aggregator shall analyse the historical documentation on production, exports and payment of </text> <text top="411" left="92" width="333" height="16" font="3">royalties for minerals produced in the country. </text> <text top="448" left="92" width="701" height="16" font="3">In carrying out his mandate the Aggregator shall have access to the company&#8217;s lease, stability or </text> <text top="471" left="92" width="315" height="16" font="3">development agreements with government. </text> <text top="507" left="92" width="514" height="16" font="3">More specifically the Aggregator shall undertake the following activities: </text> <text top="544" left="118" width="14" height="16" font="3">1.</text> <text top="545" left="132" width="4" height="15" font="24"> </text> <text top="544" left="145" width="649" height="16" font="3"> Analyze the documentation on production, exports, payments and receipts from solid </text> <text top="564" left="145" width="387" height="16" font="3">minerals in the country for the period 2010 and 2011. </text> <text top="583" left="145" width="5" height="16" font="3"> </text> <text top="620" left="118" width="14" height="16" font="3">2.</text> <text top="621" left="132" width="4" height="15" font="24"> </text> <text top="620" left="145" width="649" height="16" font="3">Review feasibility reports of Mining Companies in order to compare projected production </text> <text top="639" left="145" width="195" height="16" font="3">with the actual production. </text> <text top="659" left="92" width="5" height="16" font="3"> </text> <text top="695" left="118" width="14" height="16" font="3">3.</text> <text top="696" left="132" width="4" height="15" font="24"> </text> <text top="695" left="145" width="649" height="16" font="3">Where applicable, check if quantities of solid minerals declared are in conformity with the </text> <text top="715" left="145" width="643" height="16" font="3">declarations made to the regulatory institution and as captured in the refinery certificates. </text> <text top="734" left="145" width="5" height="16" font="3"> </text> <text top="771" left="118" width="14" height="16" font="3">4.</text> <text top="772" left="132" width="4" height="15" font="24"> </text> <text top="771" left="145" width="649" height="16" font="3">Review the capital investment made by the companies in order to assess the actual </text> <text top="791" left="145" width="649" height="16" font="3">amount of the investment and determine if the amortization and depreciation declared are </text> <text top="810" left="145" width="630" height="16" font="3">correct and do not unduly reduce the amount of taxable profit of the mining companies. </text> <text top="829" left="92" width="5" height="16" font="3"> </text> <text top="866" left="118" width="14" height="16" font="3">5.</text> <text top="867" left="132" width="4" height="15" font="24"> </text> <text top="866" left="145" width="649" height="16" font="3">Check the correctness of the computation of payments, in order to determine the </text> <text top="886" left="145" width="649" height="16" font="3">appropriateness of the revenues received as mineral royalty, dividends, tax on profit </text> <text top="905" left="145" width="330" height="16" font="3">property rate, ground rent and mineral rights. </text> <text top="925" left="145" width="5" height="16" font="3"> </text> <text top="961" left="118" width="14" height="16" font="3">6.</text> <text top="962" left="132" width="4" height="15" font="24"> </text> <text top="961" left="145" width="649" height="16" font="3">Analyzed all tax deduction claimed by the companies, to ensure that only legitimate claims </text> <text top="981" left="145" width="128" height="16" font="3">have been made. </text> <text top="1000" left="92" width="5" height="16" font="3"> </text> <text top="1037" left="118" width="14" height="16" font="3">7.</text> <text top="1038" left="132" width="4" height="15" font="24"> </text> <text top="1037" left="145" width="649" height="16" font="3">Scrutinize the payment made to District Assemblies, within the operational areas of the </text> <text top="1056" left="145" width="52" height="16" font="3">mines. </text> <text top="1076" left="145" width="5" height="16" font="3"> </text> </page> <page number="56" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">47 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="182" left="118" width="14" height="16" font="3">8.</text> <text top="183" left="132" width="4" height="15" font="24"> </text> <text top="182" left="145" width="649" height="16" font="3">Reconcile the data so collected to ascertain, where applicable, if there is any disparity </text> <text top="201" left="145" width="649" height="16" font="3">between the government&#8217;s reported template and the aggregated companies reporting </text> <text top="221" left="145" width="557" height="16" font="3">template and make appropriate recommendations to deal with the disparities. </text> <text top="240" left="118" width="14" height="16" font="3">9.</text> <text top="241" left="132" width="4" height="15" font="24"> </text> <text top="240" left="145" width="649" height="16" font="3">Review financial statements of companies and institution for consistency. Specifically, for </text> <text top="259" left="145" width="643" height="16" font="3">companies, the aggregator shall review company capital investments and operating costs. </text> <text top="279" left="92" width="5" height="16" font="3"> </text> <text top="316" left="118" width="22" height="16" font="3">10.</text> <text top="317" left="141" width="4" height="15" font="24"> </text> <text top="316" left="145" width="649" height="16" font="3"> The aggregator shall report on amount accruing to the Minerals Development Fund and </text> <text top="335" left="145" width="245" height="16" font="3">how the funds have been utilized. </text> <text top="355" left="92" width="5" height="16" font="0"><b> </b></text> <text top="395" left="92" width="9" height="28" font="101"><b> </b></text> <text top="430" left="92" width="9" height="28" font="101"><b> </b></text> <text top="465" left="92" width="9" height="28" font="101"><b> </b></text> <text top="500" left="92" width="9" height="28" font="101"><b> </b></text> <text top="535" left="92" width="9" height="28" font="101"><b> </b></text> <text top="571" left="92" width="9" height="28" font="101"><b> </b></text> <text top="606" left="92" width="9" height="28" font="101"><b> </b></text> <text top="641" left="92" width="9" height="28" font="101"><b> </b></text> <text top="677" left="92" width="9" height="28" font="101"><b> </b></text> <text top="712" left="92" width="9" height="28" font="101"><b> </b></text> <text top="747" left="92" width="9" height="28" font="101"><b> </b></text> <text top="782" left="92" width="9" height="28" font="101"><b> </b></text> <text top="818" left="92" width="9" height="28" font="101"><b> </b></text> <text top="853" left="92" width="9" height="28" font="101"><b> </b></text> <text top="888" left="92" width="9" height="28" font="101"><b> </b></text> <text top="923" left="92" width="9" height="28" font="101"><b> </b></text> <text top="958" left="92" width="9" height="28" font="101"><b> </b></text> <text top="994" left="92" width="9" height="28" font="101"><b> </b></text> <text top="1026" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1045" left="92" width="5" height="16" font="0"><b> </b></text> <text top="1065" left="92" width="5" height="16" font="0"><b> </b></text> </page> <page number="57" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">48 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="182" left="92" width="409" height="16" font="11"><b>APPENDIX 2(A-K): MONTHLY ROYALTY PAYMENTS</b></text> <text top="1072" left="737" width="9" height="16" font="0"><b> </b></text> </page> <page number="58" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">49 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="788" width="9" height="28" font="101"><b> </b></text> </page> <page number="59" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">50 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1122" left="788" width="5" height="17" font="32"><b> </b></text> </page> <page number="60" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">51 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="788" width="9" height="28" font="101"><b> </b></text> </page> <page number="61" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">52 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="788" width="9" height="28" font="101"><b> </b></text> </page> <page number="62" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">53 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="791" width="9" height="28" font="101"><b> </b></text> </page> <page number="63" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">54 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="791" width="9" height="28" font="101"><b> </b></text> </page> <page number="64" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">55 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="791" width="9" height="28" font="101"><b> </b></text> </page> <page number="65" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">56 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="791" width="9" height="28" font="101"><b> </b></text> </page> <page number="66" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">57 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="791" width="9" height="28" font="101"><b> </b></text> </page> <page number="67" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">58 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="791" width="9" height="28" font="101"><b> </b></text> </page> <page number="68" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">59 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="788" width="9" height="28" font="101"><b> </b></text> </page> <page number="69" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">60 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1113" left="788" width="9" height="28" font="101"><b> </b></text> </page> <page number="70" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">61 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="185" left="92" width="9" height="28" font="101"><b> </b></text> <text top="217" left="92" width="405" height="16" font="11"><b>APPENDIX 3B(2) Anglogold Ashanti Obuasi -2010 </b></text> <text top="1044" left="773" width="4" height="14" font="3"> </text> <text top="1077" left="92" width="5" height="16" font="0"><b> </b></text> </page> <page number="71" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">62 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="185" left="92" width="9" height="28" font="101"><b> </b></text> <text top="217" left="92" width="410" height="16" font="11"><b>APPENDIX 3B (2) Anglogold Ashanti Obuasi -2011 </b></text> <text top="979" left="761" width="9" height="28" font="101"><b> </b></text> <text top="1008" left="92" width="9" height="28" font="101"><b> </b></text> <text top="1044" left="92" width="9" height="28" font="101"><b> </b></text> </page> <page number="72" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">63 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="185" left="92" width="9" height="28" font="101"><b> </b></text> <text top="218" left="92" width="404" height="17" font="19"><b>APPENDIX 4 : PRODUCTION/ROYALTY DATA </b></text> <text top="243" left="226" width="5" height="17" font="32"><b> </b></text> <text top="264" left="99" width="166" height="17" font="32"><b>Name of Company </b></text> <text top="267" left="370" width="114" height="14" font="37">Prod(Oz) in Qtrs. </text> <text top="267" left="503" width="100" height="14" font="37">Revenue(GHC) </text> <text top="267" left="636" width="96" height="14" font="37">Royalty (GHC) </text> <text top="301" left="99" width="198" height="16" font="3">Anglogold Ashanti (Obuasi) </text> <text top="285" left="370" width="82" height="14" font="37"> </text> <text top="302" left="370" width="53" height="14" font="37">66,204 </text> <text top="285" left="503" width="41" height="14" font="37"> </text> <text top="302" left="503" width="90" height="14" font="37">118,142,728 </text> <text top="285" left="636" width="87" height="14" font="37"> </text> <text top="302" left="636" width="74" height="14" font="37">3,544,282 </text> <text top="336" left="99" width="11" height="17" font="2"> </text> <text top="321" left="370" width="82" height="14" font="37"> </text> <text top="339" left="370" width="53" height="14" font="37">70,368 </text> <text top="321" left="503" width="41" height="14" font="37"> </text> <text top="339" left="503" width="90" height="14" font="37">158,738,194 </text> <text top="321" left="636" width="87" height="14" font="37"> </text> <text top="339" left="636" width="74" height="14" font="37">4,762,146 </text> <text top="372" left="99" width="11" height="17" font="2"> </text> <text top="357" left="370" width="82" height="14" font="37"> </text> <text top="374" left="370" width="53" height="14" font="37">83,041 </text> <text top="357" left="503" width="41" height="14" font="37"> </text> <text top="374" left="503" width="90" height="14" font="37">194,177,923 </text> <text top="357" left="636" width="87" height="14" font="37"> </text> <text top="374" left="636" width="74" height="14" font="37">5,825,338 </text> <text top="408" left="99" width="11" height="17" font="2"> </text> <text top="393" left="370" width="82" height="14" font="37"> </text> <text top="410" left="370" width="53" height="14" font="37">78,024 </text> <text top="393" left="503" width="41" height="14" font="37"> </text> <text top="410" left="503" width="90" height="14" font="37">184,447,835 </text> <text top="393" left="636" width="87" height="14" font="37"> </text> <text top="410" left="636" width="74" height="14" font="37">5,533,436 </text> <text top="444" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="429" left="370" width="73" height="14" font="35"><b> </b></text> <text top="447" left="370" width="69" height="14" font="35"><b>297,637 </b></text> <text top="429" left="503" width="39" height="14" font="35"><b> </b></text> <text top="447" left="503" width="102" height="14" font="35"><b>655,506,680 </b></text> <text top="429" left="636" width="73" height="14" font="35"><b> </b></text> <text top="447" left="636" width="92" height="14" font="35"><b>19,665,202 </b></text> <text top="481" left="99" width="210" height="16" font="3">Anglogold Ashanti Iduapriem </text> <text top="465" left="370" width="82" height="14" font="37"> </text> <text top="482" left="370" width="53" height="14" font="37">58,472 </text> <text top="465" left="503" width="41" height="14" font="37"> </text> <text top="482" left="503" width="90" height="14" font="37">123,850,606 </text> <text top="465" left="636" width="87" height="14" font="37"> </text> <text top="482" left="636" width="74" height="14" font="37">3,715,519 </text> <text top="516" left="99" width="11" height="17" font="2"> </text> <text top="501" left="370" width="82" height="14" font="37"> </text> <text top="518" left="370" width="53" height="14" font="37">56,237 </text> <text top="501" left="503" width="41" height="14" font="37"> </text> <text top="518" left="503" width="90" height="14" font="37">111,498,629 </text> <text top="501" left="636" width="87" height="14" font="37"> </text> <text top="518" left="636" width="74" height="14" font="37">3,344,959 </text> <text top="552" left="99" width="11" height="17" font="2"> </text> <text top="537" left="370" width="82" height="14" font="37"> </text> <text top="554" left="370" width="53" height="14" font="37">44,223 </text> <text top="537" left="503" width="50" height="14" font="37"> </text> <text top="554" left="503" width="82" height="14" font="37">89,452,168 </text> <text top="537" left="636" width="87" height="14" font="37"> </text> <text top="554" left="636" width="74" height="14" font="37">2,683,565 </text> <text top="588" left="99" width="11" height="17" font="2"> </text> <text top="573" left="370" width="82" height="14" font="37"> </text> <text top="590" left="370" width="53" height="14" font="37">48,484 </text> <text top="573" left="503" width="41" height="14" font="37"> </text> <text top="590" left="503" width="90" height="14" font="37">131,580,097 </text> <text top="573" left="636" width="87" height="14" font="37"> </text> <text top="590" left="636" width="74" height="14" font="37">3,947,403 </text> <text top="624" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="609" left="370" width="73" height="14" font="35"><b> </b></text> <text top="626" left="370" width="69" height="14" font="35"><b>207,416 </b></text> <text top="609" left="503" width="39" height="14" font="35"><b> </b></text> <text top="626" left="503" width="102" height="14" font="35"><b>456,381,500 </b></text> <text top="609" left="636" width="73" height="14" font="35"><b> </b></text> <text top="626" left="636" width="92" height="14" font="35"><b>13,691,446 </b></text> <text top="661" left="99" width="234" height="16" font="3">Gold Fields (Ghana) Ltd. Tarkwa </text> <text top="645" left="370" width="78" height="14" font="37"> </text> <text top="662" left="370" width="61" height="14" font="37">176,589 </text> <text top="645" left="503" width="41" height="14" font="37"> </text> <text top="662" left="503" width="90" height="14" font="37">270,099,313 </text> <text top="645" left="636" width="87" height="14" font="37"> </text> <text top="662" left="636" width="74" height="14" font="37">8,102,980 </text> <text top="696" left="99" width="11" height="17" font="2"> </text> <text top="681" left="370" width="78" height="14" font="37"> </text> <text top="698" left="370" width="61" height="14" font="37">186,067 </text> <text top="681" left="503" width="41" height="14" font="37"> </text> <text top="698" left="503" width="90" height="14" font="37">271,312,265 </text> <text top="681" left="636" width="87" height="14" font="37"> </text> <text top="698" left="636" width="74" height="14" font="37">8,139,369 </text> <text top="732" left="99" width="11" height="17" font="2"> </text> <text top="717" left="370" width="78" height="14" font="37"> </text> <text top="734" left="370" width="61" height="14" font="37">180,835 </text> <text top="717" left="503" width="41" height="14" font="37"> </text> <text top="734" left="503" width="90" height="14" font="37">340,157,881 </text> <text top="717" left="636" width="78" height="14" font="37"> </text> <text top="734" left="636" width="82" height="14" font="37">10,204,737 </text> <text top="767" left="99" width="11" height="17" font="2"> </text> <text top="753" left="370" width="78" height="14" font="37"> </text> <text top="770" left="370" width="61" height="14" font="37">179,668 </text> <text top="753" left="503" width="41" height="14" font="37"> </text> <text top="770" left="503" width="90" height="14" font="37">323,090,558 </text> <text top="753" left="636" width="87" height="14" font="37"> </text> <text top="770" left="636" width="74" height="14" font="37">9,692,718 </text> <text top="804" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="788" left="370" width="73" height="14" font="35"><b> </b></text> <text top="806" left="370" width="69" height="14" font="35"><b>723,159 </b></text> <text top="788" left="503" width="30" height="14" font="35"><b> </b></text> <text top="806" left="503" width="115" height="14" font="35"><b>1,204,660,017 </b></text> <text top="788" left="636" width="73" height="14" font="35"><b> </b></text> <text top="806" left="636" width="92" height="14" font="35"><b>36,139,804 </b></text> <text top="841" left="99" width="238" height="16" font="3">Abosso Goldfields Ltd. (Damang) </text> <text top="825" left="370" width="82" height="14" font="37"> </text> <text top="842" left="370" width="53" height="14" font="37">42,333 </text> <text top="825" left="503" width="50" height="14" font="37"> </text> <text top="842" left="503" width="82" height="14" font="37">71,432,877 </text> <text top="825" left="775" width="87" height="14" font="37"> </text> <text top="842" left="710" width="74" height="14" font="37">2,142,987 </text> <text top="876" left="99" width="11" height="17" font="2"> </text> <text top="861" left="370" width="82" height="14" font="37"> </text> <text top="878" left="370" width="53" height="14" font="37">57,446 </text> <text top="861" left="503" width="50" height="14" font="37"> </text> <text top="878" left="503" width="82" height="14" font="37">86,421,103 </text> <text top="861" left="775" width="87" height="14" font="37"> </text> <text top="878" left="710" width="74" height="14" font="37">2,592,633 </text> <text top="911" left="99" width="11" height="17" font="2"> </text> <text top="896" left="370" width="82" height="14" font="37"> </text> <text top="914" left="370" width="53" height="14" font="37">56,349 </text> <text top="896" left="503" width="50" height="14" font="37"> </text> <text top="914" left="503" width="82" height="14" font="37">97,036,628 </text> <text top="896" left="775" width="87" height="14" font="37"> </text> <text top="914" left="710" width="74" height="14" font="37">2,911,099 </text> <text top="947" left="99" width="11" height="17" font="2"> </text> <text top="933" left="370" width="82" height="14" font="37"> </text> <text top="950" left="370" width="53" height="14" font="37">54,324 </text> <text top="933" left="503" width="50" height="14" font="37"> </text> <text top="950" left="503" width="82" height="14" font="37">98,923,344 </text> <text top="933" left="775" width="87" height="14" font="37"> </text> <text top="950" left="710" width="74" height="14" font="37">2,967,701 </text> <text top="983" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="968" left="487" width="73" height="14" font="35"><b> </b></text> <text top="986" left="427" width="69" height="14" font="35"><b>210,452 </b></text> <text top="968" left="620" width="38" height="14" font="35"><b> </b></text> <text top="986" left="527" width="101" height="14" font="35"><b>353,813,952 </b></text> <text top="968" left="775" width="73" height="14" font="35"><b> </b></text> <text top="986" left="691" width="92" height="14" font="35"><b>10,614,420 </b></text> <text top="1020" left="99" width="5" height="17" font="2"> </text> <text top="1021" left="104" width="239" height="16" font="3">Golden Star Res. Bogosu/Prestea </text> <text top="1004" left="370" width="82" height="14" font="37"> </text> <text top="1022" left="370" width="53" height="14" font="37">28,022 </text> <text top="1004" left="503" width="50" height="14" font="37"> </text> <text top="1022" left="503" width="82" height="14" font="37">55,578,795 </text> <text top="1004" left="636" width="87" height="14" font="37"> </text> <text top="1022" left="636" width="74" height="14" font="37">1,667,364 </text> <text top="1055" left="99" width="11" height="17" font="2"> </text> <text top="1040" left="370" width="82" height="14" font="37"> </text> <text top="1058" left="370" width="53" height="14" font="37">30,575 </text> <text top="1040" left="503" width="50" height="14" font="37"> </text> <text top="1058" left="503" width="82" height="14" font="37">63,374,530 </text> <text top="1040" left="636" width="87" height="14" font="37"> </text> <text top="1058" left="636" width="74" height="14" font="37">1,901,236 </text> </page> <page number="73" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">64 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="196" left="99" width="11" height="17" font="2"> </text> <text top="182" left="370" width="82" height="14" font="37"> </text> <text top="199" left="370" width="53" height="14" font="37">34,076 </text> <text top="182" left="503" width="41" height="14" font="37"> </text> <text top="199" left="503" width="90" height="14" font="37">128,141,594 </text> <text top="182" left="636" width="87" height="14" font="37"> </text> <text top="199" left="636" width="74" height="14" font="37">3,844,248 </text> <text top="233" left="99" width="11" height="17" font="2"> </text> <text top="217" left="370" width="82" height="14" font="37"> </text> <text top="235" left="370" width="53" height="14" font="37">39,434 </text> <text top="217" left="503" width="41" height="14" font="37"> </text> <text top="235" left="503" width="90" height="14" font="37">172,025,691 </text> <text top="217" left="636" width="87" height="14" font="37"> </text> <text top="235" left="636" width="74" height="14" font="37">5,160,771 </text> <text top="268" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="254" left="370" width="73" height="14" font="35"><b> </b></text> <text top="271" left="370" width="69" height="14" font="35"><b>132,107 </b></text> <text top="254" left="503" width="39" height="14" font="35"><b> </b></text> <text top="271" left="503" width="102" height="14" font="35"><b>419,120,610 </b></text> <text top="254" left="636" width="73" height="14" font="35"><b> </b></text> <text top="271" left="636" width="92" height="14" font="35"><b>12,573,620 </b></text> <text top="292" left="99" width="12" height="20" font="7"><b> </b></text> <text top="298" left="370" width="8" height="14" font="35"><b> </b></text> <text top="298" left="503" width="18" height="14" font="37"> </text> <text top="298" left="636" width="9" height="14" font="35"><b> </b></text> <text top="332" left="99" width="241" height="17" font="2">Golden Star Resources Wassa </text> <text top="316" left="370" width="82" height="14" font="37"> </text> <text top="334" left="370" width="53" height="14" font="37">48,896 </text> <text top="316" left="503" width="50" height="14" font="37"> </text> <text top="334" left="503" width="82" height="14" font="37">96,902,684 </text> <text top="316" left="636" width="87" height="14" font="37"> </text> <text top="334" left="636" width="74" height="14" font="37">2,907,081 </text> <text top="367" left="99" width="11" height="17" font="2"> </text> <text top="352" left="370" width="82" height="14" font="37"> </text> <text top="370" left="370" width="53" height="14" font="37">53,332 </text> <text top="352" left="503" width="41" height="14" font="37"> </text> <text top="370" left="503" width="90" height="14" font="37">109,848,869 </text> <text top="352" left="636" width="87" height="14" font="37"> </text> <text top="370" left="636" width="74" height="14" font="37">3,295,466 </text> <text top="403" left="99" width="11" height="17" font="2"> </text> <text top="388" left="370" width="82" height="14" font="37"> </text> <text top="406" left="370" width="53" height="14" font="37">38,465 </text> <text top="388" left="503" width="41" height="14" font="37"> </text> <text top="406" left="503" width="90" height="14" font="37">145,113,674 </text> <text top="388" left="636" width="87" height="14" font="37"> </text> <text top="406" left="636" width="74" height="14" font="37">4,353,411 </text> <text top="439" left="99" width="11" height="17" font="2"> </text> <text top="424" left="370" width="82" height="14" font="37"> </text> <text top="442" left="370" width="53" height="14" font="37">33,485 </text> <text top="424" left="503" width="41" height="14" font="37"> </text> <text top="442" left="503" width="90" height="14" font="37">143,887,762 </text> <text top="424" left="636" width="87" height="14" font="37"> </text> <text top="442" left="636" width="74" height="14" font="37">4,316,633 </text> <text top="475" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="460" left="370" width="73" height="14" font="35"><b> </b></text> <text top="478" left="370" width="69" height="14" font="35"><b>174,178 </b></text> <text top="460" left="503" width="39" height="14" font="35"><b> </b></text> <text top="478" left="503" width="102" height="14" font="35"><b>495,752,990 </b></text> <text top="460" left="636" width="73" height="14" font="35"><b> </b></text> <text top="478" left="636" width="92" height="14" font="35"><b>14,872,591 </b></text> <text top="511" left="99" width="181" height="17" font="2">Adamus Resources Ltd </text> <text top="496" left="370" width="114" height="14" font="37"> </text> <text top="514" left="370" width="23" height="14" font="37">- </text> <text top="514" left="503" width="18" height="14" font="37"> </text> <text top="514" left="636" width="18" height="14" font="37"> </text> <text top="547" left="99" width="11" height="17" font="2"> </text> <text top="532" left="370" width="82" height="14" font="37"> </text> <text top="550" left="370" width="53" height="14" font="37">11,450 </text> <text top="532" left="503" width="50" height="14" font="37"> </text> <text top="550" left="503" width="82" height="14" font="37">44,327,344 </text> <text top="532" left="636" width="87" height="14" font="37"> </text> <text top="550" left="636" width="74" height="14" font="37">1,329,820 </text> <text top="583" left="99" width="11" height="17" font="2"> </text> <text top="568" left="370" width="82" height="14" font="37"> </text> <text top="586" left="370" width="53" height="14" font="37">26,020 </text> <text top="568" left="503" width="50" height="14" font="37"> </text> <text top="586" left="503" width="82" height="14" font="37">82,149,645 </text> <text top="568" left="636" width="87" height="14" font="37"> </text> <text top="586" left="636" width="74" height="14" font="37">2,464,490 </text> <text top="619" left="99" width="11" height="17" font="2"> </text> <text top="604" left="370" width="82" height="14" font="37"> </text> <text top="622" left="370" width="53" height="14" font="37">26,480 </text> <text top="604" left="503" width="50" height="14" font="37"> </text> <text top="622" left="503" width="82" height="14" font="37">97,853,964 </text> <text top="604" left="636" width="87" height="14" font="37"> </text> <text top="622" left="636" width="74" height="14" font="37">2,935,619 </text> <text top="655" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="640" left="370" width="77" height="14" font="35"><b> </b></text> <text top="658" left="370" width="60" height="14" font="35"><b>63,950 </b></text> <text top="640" left="503" width="39" height="14" font="35"><b> </b></text> <text top="658" left="503" width="102" height="14" font="35"><b>224,330,953 </b></text> <text top="640" left="636" width="81" height="14" font="35"><b> </b></text> <text top="658" left="636" width="83" height="14" font="35"><b>6,729,929 </b></text> <text top="691" left="99" width="185" height="17" font="2">Chirano Gold Mines Ltd </text> <text top="676" left="370" width="82" height="14" font="37"> </text> <text top="694" left="370" width="53" height="14" font="37">76,498 </text> <text top="676" left="503" width="41" height="14" font="37"> </text> <text top="694" left="503" width="90" height="14" font="37">251,072,872 </text> <text top="676" left="636" width="87" height="14" font="37"> </text> <text top="694" left="636" width="74" height="14" font="37">7,532,187 </text> <text top="727" left="99" width="11" height="17" font="2"> </text> <text top="712" left="370" width="82" height="14" font="37"> </text> <text top="730" left="370" width="53" height="14" font="37">61,758 </text> <text top="712" left="503" width="50" height="14" font="37"> </text> <text top="730" left="503" width="82" height="14" font="37">74,639,485 </text> <text top="712" left="636" width="87" height="14" font="37"> </text> <text top="730" left="636" width="74" height="14" font="37">2,239,185 </text> <text top="763" left="99" width="11" height="17" font="2"> </text> <text top="748" left="370" width="82" height="14" font="37"> </text> <text top="766" left="370" width="53" height="14" font="37">57,617 </text> <text top="748" left="503" width="50" height="14" font="37"> </text> <text top="766" left="503" width="82" height="14" font="37">90,249,313 </text> <text top="748" left="636" width="87" height="14" font="37"> </text> <text top="766" left="636" width="74" height="14" font="37">2,707,480 </text> <text top="799" left="99" width="11" height="17" font="2"> </text> <text top="784" left="370" width="82" height="14" font="37"> </text> <text top="802" left="370" width="53" height="14" font="37">69,195 </text> <text top="784" left="503" width="50" height="14" font="37"> </text> <text top="802" left="503" width="82" height="14" font="37">71,411,881 </text> <text top="784" left="636" width="87" height="14" font="37"> </text> <text top="802" left="636" width="74" height="14" font="37">2,142,357 </text> <text top="835" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="820" left="370" width="73" height="14" font="35"><b> </b></text> <text top="838" left="370" width="69" height="14" font="35"><b>265,068 </b></text> <text top="820" left="503" width="39" height="14" font="35"><b> </b></text> <text top="838" left="503" width="102" height="14" font="35"><b>487,373,550 </b></text> <text top="820" left="636" width="73" height="14" font="35"><b> </b></text> <text top="838" left="636" width="92" height="14" font="35"><b>14,621,208 </b></text> <text top="871" left="99" width="210" height="17" font="2">Newmont Ghana Gold Ltd </text> <text top="856" left="370" width="78" height="14" font="37"> </text> <text top="874" left="370" width="61" height="14" font="37">137,590 </text> <text top="856" left="503" width="41" height="14" font="37"> </text> <text top="874" left="503" width="90" height="14" font="37">290,908,492 </text> <text top="856" left="636" width="87" height="14" font="37"> </text> <text top="874" left="636" width="74" height="14" font="37">8,727,256 </text> <text top="907" left="99" width="11" height="17" font="2"> </text> <text top="892" left="370" width="78" height="14" font="37"> </text> <text top="910" left="370" width="61" height="14" font="37">185,788 </text> <text top="892" left="503" width="41" height="14" font="37"> </text> <text top="910" left="503" width="90" height="14" font="37">380,942,514 </text> <text top="892" left="636" width="78" height="14" font="37"> </text> <text top="910" left="636" width="82" height="14" font="37">11,428,277 </text> <text top="943" left="99" width="11" height="17" font="2"> </text> <text top="928" left="370" width="78" height="14" font="37"> </text> <text top="946" left="370" width="61" height="14" font="37">146,739 </text> <text top="928" left="503" width="41" height="14" font="37"> </text> <text top="946" left="503" width="90" height="14" font="37">327,963,387 </text> <text top="928" left="636" width="87" height="14" font="37"> </text> <text top="946" left="636" width="74" height="14" font="37">9,838,903 </text> <text top="979" left="99" width="11" height="17" font="2"> </text> <text top="964" left="370" width="78" height="14" font="37"> </text> <text top="982" left="370" width="61" height="14" font="37">145,721 </text> <text top="964" left="503" width="41" height="14" font="37"> </text> <text top="982" left="503" width="90" height="14" font="37">368,808,273 </text> <text top="964" left="636" width="78" height="14" font="37"> </text> <text top="982" left="636" width="82" height="14" font="37">11,064,249 </text> <text top="1015" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="1000" left="370" width="73" height="14" font="35"><b> </b></text> <text top="1018" left="370" width="69" height="14" font="35"><b>615,838 </b></text> <text top="1000" left="503" width="30" height="14" font="35"><b> </b></text> <text top="1018" left="503" width="115" height="14" font="35"><b>1,368,622,666 </b></text> <text top="1000" left="636" width="73" height="14" font="35"><b> </b></text> <text top="1018" left="636" width="92" height="14" font="35"><b>41,058,684 </b></text> <text top="1039" left="99" width="10" height="17" font="32"><b> </b></text> <text top="1042" left="370" width="8" height="14" font="35"><b> </b></text> <text top="1041" left="503" widt h="141" height="14" font="37"> - <b> </b></text> <text top="1075" left="99" width="189" height="17" font="2"> Ghana Bauxite Co. Ltd </text> <text top="1077" left="370" width="97" height="14" font="37"> 118,187(MT) </text> <text top="1060" left="503" width="59" height="14" font="37"> </text> <text top="1077" left="503" width="74" height="14" font="37">3,112,891 </text> <text top="1060" left="636" width="105" height="14" font="37"> </text> <text top="1077" left="636" width="54" height="14" font="37">93,387 </text> </page> <page number="74" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">65 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="196" left="99" width="22" height="17" font="2"> </text> <text top="199" left="370" width="89" height="14" font="37"> 93,773(MT) </text> <text top="182" left="503" width="59" height="14" font="37"> </text> <text top="199" left="503" width="74" height="14" font="37">9,941,249 </text> <text top="182" left="636" width="96" height="14" font="37"> </text> <text top="199" left="636" width="61" height="14" font="37">298,238 </text> <text top="233" left="99" width="11" height="17" font="2"> </text> <text top="235" left="370" width="89" height="14" font="37"> 62,050(MT) </text> <text top="217" left="503" width="59" height="14" font="37"> </text> <text top="235" left="503" width="74" height="14" font="37">8,786,586 </text> <text top="217" left="636" width="96" height="14" font="37"> </text> <text top="235" left="636" width="61" height="14" font="37">263,598 </text> <text top="268" left="99" width="11" height="17" font="2"> </text> <text top="271" left="370" width="89" height="14" font="37"> 96,152(MT) </text> <text top="254" left="503" width="59" height="14" font="37"> </text> <text top="271" left="503" width="74" height="14" font="37">1,154,663 </text> <text top="254" left="636" width="105" height="14" font="37"> </text> <text top="271" left="636" width="54" height="14" font="37">34,640 </text> <text top="304" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="307" left="370" width="108" height="14" font="35"><b> 370,162(MT) </b></text> <text top="289" left="503" width="47" height="14" font="35"><b> </b></text> <text top="307" left="503" width="92" height="14" font="35"><b>22,995,388 </b></text> <text top="289" left="636" width="90" height="14" font="35"><b> </b></text> <text top="307" left="636" width="69" height="14" font="35"><b>689,862 </b></text> <text top="340" left="99" width="226" height="17" font="2">Ghana Manganese Company </text> <text top="343" left="370" width="108" height="14" font="35"><b> 393,938(MT) </b></text> <text top="325" left="503" width="50" height="14" font="37"> </text> <text top="343" left="503" width="82" height="14" font="37">69,287,082 </text> <text top="325" left="636" width="87" height="14" font="37"> </text> <text top="343" left="636" width="74" height="14" font="37">2,078,613 </text> <text top="376" left="99" width="11" height="17" font="2"> </text> <text top="379" left="370" width="104" height="14" font="35"><b> 481965(MT) </b></text> <text top="361" left="503" width="50" height="14" font="37"> </text> <text top="379" left="503" width="82" height="14" font="37">81,812,289 </text> <text top="361" left="636" width="87" height="14" font="37"> </text> <text top="379" left="636" width="74" height="14" font="37">2,454,369 </text> <text top="412" left="99" width="11" height="17" font="2"> </text> <text top="415" left="370" width="104" height="14" font="35"><b> 407796(MT) </b></text> <text top="397" left="503" width="50" height="14" font="37"> </text> <text top="415" left="503" width="82" height="14" font="37">71,753,054 </text> <text top="397" left="636" width="87" height="14" font="37"> </text> <text top="415" left="636" width="74" height="14" font="37">2,152,592 </text> <text top="448" left="99" width="11" height="17" font="2"> </text> <text top="451" left="370" width="104" height="14" font="35"><b> 445717(MT) </b></text> <text top="451" left="503" width="128" height="14" font="37"> - </text> <text top="433" left="636" width="137" height="14" font="37"> </text> <text top="451" left="636" width="23" height="14" font="37">- </text> <text top="484" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="487" left="370" width="122" height="14" font="35"><b> 1,729,416(MT) </b></text> <text top="469" left="503" width="39" height="14" font="35"><b> </b></text> <text top="487" left="503" width="101" height="14" font="35"><b>222,852,425 </b></text> <text top="469" left="636" width="81" height="14" font="35"><b> </b></text> <text top="487" left="636" width="83" height="14" font="35"><b>6,685,573 </b></text> <text top="506" left="92" width="5" height="17" font="2"> </text> <text top="545" left="92" width="5" height="17" font="2"> </text> <text top="584" left="92" width="396" height="17" font="19"><b>2009/2010 PRODUCTION &amp; ROYALTY DATA </b></text> <text top="608" left="146" width="166" height="17" font="32"><b>Name of Company </b></text> <text top="611" left="370" width="110" height="14" font="37">Prod(Oz) in Qtrs </text> <text top="611" left="503" width="100" height="14" font="37">Revenue(GHC) </text> <text top="611" left="636" width="96" height="14" font="37">Royalty (GHC) </text> <text top="644" left="99" width="216" height="17" font="2">Anglogold Ashanti (Obuasi) </text> <text top="629" left="370" width="82" height="14" font="37"> </text> <text top="646" left="370" width="53" height="14" font="37">97,213 </text> <text top="629" left="503" width="41" height="14" font="37"> </text> <text top="646" left="503" width="90" height="14" font="37">153,992,106 </text> <text top="629" left="636" width="87" height="14" font="37"> </text> <text top="646" left="636" width="74" height="14" font="37">4,619,764 </text> <text top="680" left="99" width="11" height="17" font="2"> </text> <text top="665" left="370" width="82" height="14" font="37"> </text> <text top="682" left="370" width="53" height="14" font="37">97,695 </text> <text top="665" left="503" width="41" height="14" font="37"> </text> <text top="682" left="503" width="90" height="14" font="37">161,256,726 </text> <text top="665" left="636" width="87" height="14" font="37"> </text> <text top="682" left="636" width="74" height="14" font="37">4,837,702 </text> <text top="716" left="99" width="11" height="17" font="2"> </text> <text top="701" left="370" width="82" height="14" font="37"> </text> <text top="718" left="370" width="53" height="14" font="37">77,384 </text> <text top="701" left="503" width="41" height="14" font="37"> </text> <text top="718" left="503" width="90" height="14" font="37">130,110,681 </text> <text top="701" left="636" width="87" height="14" font="37"> </text> <text top="718" left="636" width="74" height="14" font="37">3,903,321 </text> <text top="752" left="99" width="11" height="17" font="2"> </text> <text top="737" left="370" width="82" height="14" font="37"> </text> <text top="754" left="370" width="53" height="14" font="37">75,332 </text> <text top="737" left="503" width="41" height="14" font="37"> </text> <text top="754" left="503" width="90" height="14" font="37">133,317,333 </text> <text top="737" left="636" width="87" height="14" font="37"> </text> <text top="754" left="636" width="74" height="14" font="37">3,999,520 </text> <text top="788" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="773" left="370" width="73" height="14" font="35"><b> </b></text> <text top="790" left="370" width="69" height="14" font="35"><b>347,624 </b></text> <text top="773" left="503" width="39" height="14" font="35"><b> </b></text> <text top="790" left="503" width="102" height="14" font="35"><b>578,676,845 </b></text> <text top="773" left="636" width="73" height="14" font="35"><b> </b></text> <text top="790" left="636" width="92" height="14" font="35"><b>17,360,307 </b></text> <text top="824" left="99" width="229" height="17" font="2">Anglogold Ashanti Iduapriem </text> <text top="809" left="370" width="82" height="14" font="37"> </text> <text top="826" left="370" width="53" height="14" font="37">54,916 </text> <text top="809" left="503" width="50" height="14" font="37"> </text> <text top="826" left="503" width="82" height="14" font="37">79,039,557 </text> <text top="809" left="636" width="87" height="14" font="37"> </text> <text top="826" left="636" width="74" height="14" font="37">2,371,187 </text> <text top="860" left="99" width="11" height="17" font="2"> </text> <text top="845" left="370" width="82" height="14" font="37"> </text> <text top="862" left="370" width="53" height="14" font="37">20,480 </text> <text top="845" left="503" width="50" height="14" font="37"> </text> <text top="862" left="503" width="82" height="14" font="37">44,789,378 </text> <text top="845" left="636" width="87" height="14" font="37"> </text> <text top="862" left="636" width="74" height="14" font="37">1,343,681 </text> <text top="896" left="99" width="11" height="17" font="2"> </text> <text top="881" left="370" width="82" height="14" font="37"> </text> <text top="898" left="370" width="53" height="14" font="37">49,801 </text> <text top="881" left="503" width="50" height="14" font="37"> </text> <text top="898" left="503" width="82" height="14" font="37">80,226,161 </text> <text top="881" left="636" width="87" height="14" font="37"> </text> <text top="898" left="636" width="74" height="14" font="37">2,406,785 </text> <text top="932" left="99" width="11" height="17" font="2"> </text> <text top="917" left="370" width="82" height="14" font="37"> </text> <text top="934" left="370" width="53" height="14" font="37">56,735 </text> <text top="917" left="503" width="50" height="14" font="37"> </text> <text top="934" left="503" width="82" height="14" font="37">98,304,428 </text> <text top="917" left="636" width="87" height="14" font="37"> </text> <text top="934" left="636" width="74" height="14" font="37">2,949,133 </text> <text top="968" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="953" left="370" width="73" height="14" font="35"><b> </b></text> <text top="970" left="370" width="69" height="14" font="35"><b>181,932 </b></text> <text top="953" left="503" width="39" height="14" font="35"><b> </b></text> <text top="970" left="503" width="102" height="14" font="35"><b>302,359,523 </b></text> <text top="953" left="636" width="81" height="14" font="35"><b> </b></text> <text top="970" left="636" width="83" height="14" font="35"><b>9,070,787 </b></text> <text top="1003" left="99" width="255" height="17" font="2">Gold Fields (Ghana) Ltd. Tarkwa </text> <text top="989" left="370" width="78" height="14" font="37"> </text> <text top="1006" left="370" width="61" height="14" font="37">172,599 </text> <text top="989" left="503" width="41" height="14" font="37"> </text> <text top="1006" left="503" width="90" height="14" font="37">270,099,313 </text> <text top="989" left="636" width="87" height="14" font="37"> </text> <text top="1006" left="636" width="74" height="14" font="37">8,102,980 </text> <text top="1040" left="99" width="11" height="17" font="2"> </text> <text top="1025" left="370" width="78" height="14" font="37"> </text> <text top="1042" left="370" width="61" height="14" font="37">172,793 </text> <text top="1025" left="503" width="41" height="14" font="37"> </text> <text top="1042" left="503" width="90" height="14" font="37">271,312,265 </text> <text top="1025" left="636" width="87" height="14" font="37"> </text> <text top="1042" left="636" width="74" height="14" font="37">8,139,369 </text> <text top="1075" left="99" width="11" height="17" font="2"> </text> <text top="1061" left="370" width="78" height="14" font="37"> </text> <text top="1078" left="370" width="61" height="14" font="37">200,175 </text> <text top="1061" left="503" width="41" height="14" font="37"> </text> <text top="1078" left="503" width="90" height="14" font="37">340,157,881 </text> <text top="1061" left="636" width="78" height="14" font="37"> </text> <text top="1078" left="636" width="82" height="14" font="37">10,204,737 </text> </page> <page number="75" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="103" size="15" family="Helvetica" color="#000000"/> <fontspec id="104" size="18" family="Helvetica" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">66 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="196" left="99" width="11" height="17" font="2"> </text> <text top="182" left="370" width="78" height="14" font="37"> </text> <text top="199" left="370" width="61" height="14" font="37">185,476 </text> <text top="182" left="503" width="41" height="14" font="37"> </text> <text top="199" left="503" width="90" height="14" font="37">323,090,558 </text> <text top="182" left="636" width="87" height="14" font="37"> </text> <text top="199" left="636" width="74" height="14" font="37">9,692,718 </text> <text top="233" left="99" width="50" height="17" font="32"><b>Total </b></text> <text top="217" left="370" width="73" height="14" font="35"><b> </b></text> <text top="235" left="370" width="69" height="14" font="35"><b>731,043 </b></text> <text top="217" left="503" width="30" height="14" font="35"><b> </b></text> <text top="235" left="503" width="115" height="14" font="35"><b>1,204,660,017 </b></text> <text top="217" left="636" width="73" height="14" font="35"><b> </b></text> <text top="235" left="636" width="92" height="14" font="35"><b>36,139,804 </b></text> <text top="268" left="99" width="259" height="17" font="2">Abosso Goldfields Ltd. (Damang) </text> <text top="254" left="370" width="82" height="14" font="37"> </text> <text top="271" left="370" width="53" height="14" font="37">45,146 </text> <text top="254" left="503" width="50" height="14" font="37"> </text> <text top="271" left="503" width="82" height="14" font="37">71,432,877 </text> <text top="254" left="775" width="87" height="14" font="37"> </text> <text top="271" left="710" width="74" height="14" font="37">2,142,987 </text> <text top="303" left="99" width="10" height="16" font="45"> </text> <text top="289" left="370" width="73" height="13" font="38"> </text> <text top="306" left="370" width="53" height="13" font="38">54,012 </text> <text top="289" left="503" width="45" height="13" font="38"> </text> <text top="306" left="503" width="81" height="13" font="38">86,421,103 </text> <text top="289" left="775" width="77" height="13" font="38"> </text> <text top="306" left="710" width="73" height="13" font="38">2,592,633 </text> <text top="338" left="99" width="10" height="16" font="45"> </text> <text top="324" left="370" width="73" height="13" font="38"> </text> <text top="341" left="370" width="53" height="13" font="38">56,822 </text> <text top="324" left="503" width="45" height="13" font="38"> </text> <text top="341" left="503" width="81" height="13" font="38">97,036,628 </text> <text top="324" left="775" width="77" height="13" font="38"> </text> <text top="341" left="710" width="73" height="13" font="38">2,911,099 </text> <text top="372" left="99" width="10" height="16" font="45"> </text> <text top="358" left="370" width="73" height="13" font="38"> </text> <text top="375" left="370" width="53" height="13" font="38">56,521 </text> <text top="358" left="503" width="45" height="13" font="38"> </text> <text top="375" left="503" width="81" height="13" font="38">98,923,344 </text> <text top="358" left="775" width="77" height="13" font="38"> </text> <text top="375" left="710" width="73" height="13" font="38">2,967,701 </text> <text top="406" left="99" width="47" height="16" font="103"><b>Total </b></text> <text top="392" left="487" width="69" height="13" font="76"><b> </b></text> <text top="408" left="435" width="61" height="13" font="76"><b>212,501 </b></text> <text top="392" left="620" width="36" height="13" font="76"><b> </b></text> <text top="408" left="539" width="89" height="13" font="76"><b>353,813,952 </b></text> <text top="392" left="775" width="69" height="13" font="76"><b> </b></text> <text top="408" left="702" width="81" height="13" font="76"><b>10,614,420 </b></text> <text top="427" left="99" width="192" height="16" font="45">Golden Star Resources </text> <text top="447" left="99" width="130" height="16" font="45">Bogosu/Prestea </text> <text top="433" left="370" width="73" height="13" font="38"> </text> <text top="450" left="370" width="53" height="13" font="38">46,680 </text> <text top="433" left="503" width="45" height="13" font="38"> </text> <text top="450" left="503" width="81" height="13" font="38">73,569,823 </text> <text top="433" left="636" width="77" height="13" font="38"> </text> <text top="450" left="636" width="73" height="13" font="38">2,207,095 </text> <text top="482" left="99" width="10" height="16" font="45"> </text> <text top="467" left="370" width="73" height="13" font="38"> </text> <text top="484" left="370" width="53" height="13" font="38">45,909 </text> <text top="467" left="503" width="45" height="13" font="38"> </text> <text top="484" left="503" width="81" height="13" font="38">85,417,270 </text> <text top="467" left="636" width="77" height="13" font="38"> </text> <text top="484" left="636" width="73" height="13" font="38">2,562,518 </text> <text top="516" left="99" width="10" height="16" font="45"> </text> <text top="502" left="370" width="73" height="13" font="38"> </text> <text top="519" left="370" width="53" height="13" font="38">52,764 </text> <text top="502" left="503" width="45" height="13" font="38"> </text> <text top="519" left="503" width="81" height="13" font="38">76,283,715 </text> <text top="502" left="636" width="77" height="13" font="38"> </text> <text top="519" left="636" width="73" height="13" font="38">2,288,512 </text> <text top="550" left="99" width="10" height="16" font="45"> </text> <text top="536" left="370" width="73" height="13" font="38"> </text> <text top="553" left="370" width="53" height="13" font="38">44,278 </text> <text top="536" left="503" width="45" height="13" font="38"> </text> <text top="553" left="503" width="81" height="13" font="38">76,939,222 </text> <text top="536" left="636" width="77" height="13" font="38"> </text> <text top="553" left="636" width="73" height="13" font="38">2,308,177 </text> <text top="584" left="99" width="47" height="16" font="103"><b>Total </b></text> <text top="570" left="370" width="69" height="13" font="76"><b> </b></text> <text top="587" left="370" width="61" height="13" font="76"><b>189,631 </b></text> <text top="570" left="503" width="37" height="13" font="76"><b> </b></text> <text top="587" left="503" width="90" height="13" font="76"><b>312,210,030 </b></text> <text top="570" left="636" width="77" height="13" font="76"><b> </b></text> <text top="587" left="636" width="73" height="13" font="76"><b>9,366,302 </b></text> <text top="608" left="99" width="11" height="19" font="104"><b> </b></text> <text top="614" left="370" width="8" height="13" font="76"><b> </b></text> <text top="614" left="503" width="16" height="13" font="38"> </text> <text top="614" left="636" width="8" height="13" font="76"><b> </b></text> <text top="646" left="99" width="256" height="16" font="45">Golden Star Resources- Wassa </text> <text top="632" left="370" width="73" height="13" font="38"> </text> <text top="649" left="370" width="53" height="13" font="38">57,198 </text> <text top="632" left="503" width="45" height="13" font="38"> </text> <text top="649" left="503" width="81" height="13" font="38">94,310,013 </text> <text top="632" left="636" width="77" height="13" font="38"> </text> <text top="649" left="636" width="73" height="13" font="38">2,829,301 </text> <text top="680" left="99" width="10" height="16" font="45"> </text> <text top="666" left="370" width="73" height="13" font="38"> </text> <text top="683" left="370" width="53" height="13" font="38">47,029 </text> <text top="666" left="503" width="45" height="13" font="38"> </text> <text top="683" left="503" width="81" height="13" font="38">74,144,781 </text> <text top="666" left="636" width="77" height="13" font="38"> </text> <text top="683" left="636" width="73" height="13" font="38">2,224,344 </text> <text top="714" left="99" width="10" height="16" font="45"> </text> <text top="700" left="370" width="73" height="13" font="38"> </text> <text top="717" left="370" width="53" height="13" font="38">47,649 </text> <text top="700" left="503" width="45" height="13" font="38"> </text> <text top="717" left="503" width="81" height="13" font="38">80,775,376 </text> <text top="700" left="636" width="77" height="13" font="38"> </text> <text top="717" left="636" width="73" height="13" font="38">2,423,262 </text> <text top="749" left="99" width="10" height="16" font="45"> </text> <text top="735" left="370" width="73" height="13" font="38"> </text> <text top="751" left="370" width="53" height="13" font="38">40,359 </text> <text top="735" left="503" width="45" height="13" font="38"> </text> <text top="751" left="503" width="81" height="13" font="38">63,545,140 </text> <text top="735" left="636" width="77" height="13" font="38"> </text> <text top="751" left="636" width="73" height="13" font="38">1,906,354 </text> <text top="783" left="99" width="47" height="16" font="103"><b>Total </b></text> <text top="769" left="370" width="69" height="13" font="76"><b> </b></text> <text top="785" left="370" width="61" height="13" font="76"><b>192,235 </b></text> <text top="769" left="503" width="37" height="13" font="76"><b> </b></text> <text top="785" left="503" width="90" height="13" font="76"><b>312,775,310 </b></text> <text top="769" left="636" width="77" height="13" font="76"><b> </b></text> <text top="785" left="636" width="73" height="13" font="76"><b>9,383,260 </b></text> <text top="807" left="99" width="187" height="16" font="45">Adamus Resources Ltd </text> <text top="809" left="370" width="251" height="13" font="38"> - - </text> <text top="809" left="636" width="143" height="13" font="38"> - </text> <text top="831" left="99" width="10" height="16" font="45"> </text> <text top="833" left="370" width="251" height="13" font="38"> - - </text> <text top="833" left="636" width="143" height="13" font="38"> - </text> <text top="854" left="99" width="10" height="16" font="45"> </text> <text top="857" left="370" width="251" height="13" font="38"> - - </text> <text top="857" left="636" width="143" height="13" font="38"> - </text> <text top="878" left="99" width="10" height="16" font="45"> </text> <text top="881" left="370" width="251" height="13" font="38"> - - </text> <text top="881" left="636" width="143" height="13" font="38"> - </text> <text top="901" left="99" width="47" height="16" font="103"><b>Total </b></text> <text top="904" left="370" width="251" height="14" font="76"><b> - </b> - </text> <text top="904" left="636" width="143" height="13" font="76"><b> - </b></text> <text top="936" left="99" width="189" height="16" font="45">Chirano Gold Mines Ltd </text> <text top="922" left="370" width="73" height="13" font="38"> </text> <text top="939" left="370" width="53" height="13" font="38">56,672 </text> <text top="922" left="503" width="37" height="13" font="38"> </text> <text top="939" left="503" width="90" height="13" font="38">104,750,623 </text> <text top="922" left="636" width="77" height="13" font="38"> </text> <text top="939" left="636" width="73" height="13" font="38">3,142,519 </text> <text top="970" left="99" width="10" height="16" font="45"> </text> <text top="956" left="370" width="73" height="13" font="38"> </text> <text top="973" left="370" width="53" height="13" font="38">43,981 </text> <text top="956" left="503" width="45" height="13" font="38"> </text> <text top="973" left="503" width="81" height="13" font="38">74,639,485 </text> <text top="956" left="636" width="77" height="13" font="38"> </text> <text top="973" left="636" width="73" height="13" font="38">2,239,185 </text> <text top="1004" left="99" width="10" height="16" font="45"> </text> <text top="991" left="370" width="73" height="13" font="38"> </text> <text top="1007" left="370" width="53" height="13" font="38">54,496 </text> <text top="991" left="503" width="45" height="13" font="38"> </text> <text top="1007" left="503" width="81" height="13" font="38">90,249,313 </text> <text top="991" left="636" width="77" height="13" font="38"> </text> <text top="1007" left="636" width="73" height="13" font="38">2,707,480 </text> <text top="1039" left="99" width="10" height="16" font="45"> </text> <text top="1025" left="370" width="73" height="13" font="38"> </text> <text top="1042" left="370" width="53" height="13" font="38">65,247 </text> <text top="1025" left="503" width="45" height="13" font="38"> </text> <text top="1042" left="503" width="81" height="13" font="38">71,411,881 </text> <text top="1025" left="636" width="77" height="13" font="38"> </text> <text top="1042" left="636" width="73" height="13" font="38">2,142,357 </text> <text top="1073" left="99" width="47" height="16" font="103"><b>Total </b></text> <text top="1059" left="370" width="69" height="13" font="76"><b> </b></text> <text top="1075" left="370" width="61" height="13" font="76"><b>220,396 </b></text> <text top="1059" left="503" width="37" height="13" font="76"><b> </b></text> <text top="1075" left="503" width="90" height="13" font="76"><b>341,051,301 </b></text> <text top="1059" left="636" width="69" height="13" font="76"><b> </b></text> <text top="1075" left="636" width="81" height="13" font="76"><b>10,231,540 </b></text> </page> <page number="76" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">67 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="196" left="99" width="166" height="16" font="45">Newmont Ghana Ltd </text> <text top="181" left="370" width="69" height="13" font="38"> </text> <text top="198" left="370" width="61" height="13" font="38">123,375 </text> <text top="181" left="503" width="37" height="13" font="38"> </text> <text top="198" left="503" width="90" height="13" font="38">208,041,762 </text> <text top="181" left="636" width="77" height="13" font="38"> </text> <text top="198" left="636" width="73" height="13" font="38">6,241,253 </text> <text top="230" left="99" width="10" height="16" font="45"> </text> <text top="216" left="370" width="69" height="13" font="38"> </text> <text top="233" left="370" width="61" height="13" font="38">119,637 </text> <text top="216" left="503" width="37" height="13" font="38"> </text> <text top="233" left="503" width="90" height="13" font="38">184,477,711 </text> <text top="216" left="636" width="77" height="13" font="38"> </text> <text top="233" left="636" width="73" height="13" font="38">5,534,332 </text> <text top="264" left="99" width="10" height="16" font="45"> </text> <text top="250" left="370" width="69" height="13" font="38"> </text> <text top="267" left="370" width="61" height="13" font="38">132,716 </text> <text top="250" left="503" width="37" height="13" font="38"> </text> <text top="267" left="503" width="90" height="13" font="38">228,781,035 </text> <text top="250" left="636" width="77" height="13" font="38"> </text> <text top="267" left="636" width="73" height="13" font="38">6,863,432 </text> <text top="298" left="99" width="10" height="16" font="45"> </text> <text top="284" left="370" width="69" height="13" font="38"> </text> <text top="301" left="370" width="61" height="13" font="38">155,369 </text> <text top="284" left="503" width="37" height="13" font="38"> </text> <text top="301" left="503" width="90" height="13" font="38">266,181,618 </text> <text top="284" left="636" width="77" height="13" font="38"> </text> <text top="301" left="636" width="73" height="13" font="38">7,985,449 </text> <text top="332" left="99" width="47" height="16" font="103"><b>Total </b></text> <text top="318" left="370" width="69" height="13" font="76"><b> </b></text> <text top="335" left="370" width="61" height="13" font="76"><b>531,097 </b></text> <text top="318" left="503" width="37" height="13" font="76"><b> </b></text> <text top="335" left="503" width="90" height="13" font="76"><b>887,482,127 </b></text> <text top="318" left="636" width="69" height="13 " font="76"><b> </b></text> <text top="335" left="636" width="81" height="13" font="76"><b>26,624,466 </b></text> <text top="356" left="99" width="10" height="16" font="103"><b> </b></text> <text top="359" left="370" width="8" height="13" font="76"><b> </b></text> <text top="359" left="503" width="119" height="13" font="38"> - </text> <text top="359" left="636" width="8" height="13" font="76"><b> </b></text> <text top="391" left="99" width="192" height="16" font="45"> Ghana Bauxite Co. Ltd </text> <text top="392" left="370" width="114" height="14" font="37"> 128,927(MT) </text> <text top="377" left="503" width="53" height="13" font="38"> </text> <text top="393" left="503" width="73" height="13" font="38">4,283,465 </text> <text top="393" left="636" width="146" height="13" font="38"> 128,504 </text> <text top="425" left="99" width="19" height="16" font="45"> </text> <text top="426" left="370" width="114" height="14" font="37"> 167,359(MT) </text> <text top="411" left="503" width="53" height="13" font="38"> </text> <text top="428" left="503" width="73" height="13" font="38">8,709,311 </text> <text top="428" left="636" width="146" height="13" font="38"> 261,279 </text> <text top="459" left="99" width="10" height="16" font="45"> </text> <text top="460" left="370" width="114" height="14" font="37"> 214,616(MT) </text> <text top="445" left="503" width="53" height="13" font="38"> </text> <text top="462" left="503" width="73" height="13" font="38">3,773,722 </text> <text top="462" left="636" width="146" height="13" font="38"> 113,212 </text> <text top="494" left="99" width="10" height="16" font="45"> </text> <text top="495" left="370" width="104" height="14" font="37"> 94,930(MT) </text> <text top="480" left="503" width="45" height="13" font="38"> </text> <text top="496" left="503" width="81" height="13" font="38">12,478,174 </text> <text top="496" left="636" width="146" height="13" font="38"> 374,345 </text> <text top="528" left="99" width="47" height="16" font="103"><b>Total </b></text> <text top="530" left="370" width="96" height="13" font="76"><b> 605,832(MT) </b></text> <text top="513" left="503" width="45" height="13" font="76"><b> </b></text> <text top="530" left="503" width="81" height="13" font="76"><b>29,244,673 </b></text> <text top="530" left="636" width="146" height="13" font="76"><b> 877,340 </b></text> <text top="562" left="99" width="234" height="16" font="45">Ghana Manganese Company </text> <text top="564" left="370" width="114" height="14" font="37"> 181,641(MT) </text> <text top="548" left="503" width="45" height="13" font="38"> </text> <text top="565" left="503" width="81" height="13" font="38">22,955,453 </text> <text top="565" left="636" width="146" height="13" font="38"> 688,664 </text> <text top="596" left="99" width="10" height="16" font="45"> </text> <text top="598" left="370" width="114" height="14" font="37"> 410,205(MT) </text> <text top="582" left="503" width="45" height="13" font="38"> </text> <text top="599" left="503" width="81" height="13" font="38">27,525,845 </text> <text top="599" left="636" width="146" height="13" font="38"> 825,775 </text> <text top="631" left="99" width="10" height="16" font="45"> </text> <text top="632" left="370" width="114" height="14" font="37"> 359,850(MT) </text> <text top="617" left="503" width="45" height="13" font="38"> </text> <text top="634" left="503" width="81" height="13" font="38">46,452,222 </text> <text top="617" left="636" width="77" height="13" font="38"> </text> <text top="634" left="636" width="73" height="13" font="38">1,393,567 </text> <text top="665" left="99" width="10" height="16" font="45"> </text> <text top="666" left="370" width="114" height="14" font="37"> 400,635(MT) </text> <text top="651" left="503" width="45" height="13" font="38"> </text> <text top="668" left="503" width="81" height="13" font="38">28,555,616 </text> <text top="668" left="636" width="146" height="13" font="38"> 856,669 </text> <text top="699" left="99" width="47" height="16" font="103"><b>Total </b></text> <text top="702" left="370" width="108" height="13" font="76"><b> 1,028,431(MT) </b></text> <text top="685" left="503" width="37" height="13" font="76"><b> </b></text> <text top="702" left="503" width="90" height="13" font="76"><b>125,489,136 </b></text> <text top="685" left="636" width="77" height="13" font="76"><b> </b></text> <text top="702" left="636" width="73" height="13" font="76"><b>3,764,674 </b></text> <text top="725" left="99" width="10" height="16" font="103"><b> </b></text> <text top="727" left="370" width="10" height="14" font="37"> </text> <text top="728" left="503" width="8" height="13" font="38"> </text> <text top="728" left="636" width="8" height="13" font="38"> </text> <text top="751" left="99" width="10" height="16" font="103"><b> </b></text> <text top="771" left="370" width="4" height="14" font="3"> </text> <text top="771" left="503" width="4" height="14" font="3"> </text> <text top="771" left="636" width="4" height="14" font="3"> </text> <text top="797" left="99" width="4" height="14" font="3"> </text> <text top="797" left="370" width="4" height="14" font="3"> </text> <text top="797" left="503" width="4" height="14" font="3"> </text> <text top="797" left="636" width="4" height="14" font="3"> </text> <text top="800" left="99" width="44" height="16" font="3">Note: </text> <text top="819" left="370" width="4" height="14" font="3"> </text> <text top="819" left="503" width="4" height="14" font="3"> </text> <text top="819" left="636" width="4" height="14" font="3"> </text> <text top="819" left="99" width="481" height="16" font="3">Production figures quoted for bauxite and manganese are in metric </text> <text top="839" left="99" width="53" height="16" font="3">tonnes </text> <text top="858" left="636" width="4" height="14" font="3"> </text> <text top="858" left="99" width="278" height="16" font="3">Adamus was not in production in 2010 </text> <text top="877" left="99" width="655" height="16" font="3">Production totals on this chart are different from annual actuals and they include figures for </text> <text top="897" left="99" width="271" height="16" font="3">the last quarter of the preceding year </text> <text top="938" left="99" width="5" height="16" font="3"> </text> <text top="938" left="370" width="4" height="14" font="3"> </text> <text top="938" left="503" width="4" height="14" font="3"> </text> <text top="938" left="636" width="4" height="14" font="3"> </text> <text top="960" left="99" width="5" height="16" font="3"> </text> <text top="960" left="370" width="4" height="14" font="3"> </text> <text top="960" left="503" width="4" height="14" font="3"> </text> <text top="960" left="636" width="4" height="14" font="3"> </text> <text top="960" left="92" width="4" height="16" font="17"> </text> <text top="998" left="92" width="4" height="14" font="3"> </text> <text top="1020" left="92" width="4" height="14" font="3"> </text> <text top="1043" left="92" width="4" height="14" font="3"> </text> <text top="1065" left="92" width="4" height="14" font="3"> </text> <text top="1088" left="92" width="4" height="14" font="3"> </text> </page> <page number="77" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="105" size="9" family="Times" color="#000000"/> <fontspec id="106" size="6" family="Helvetica" color="#000000"/> <fontspec id="107" size="9" family="Times" color="#1e487c"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">68 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="1056" left="788" width="4" height="14" font="3"> </text> <text top="1074" left="92" width="4" height="14" font="3"> </text> <text top="182" left="94" width="67" height="12" font="105"><b>APPENDIX 5A</b></text> <text top="182" left="215" width="105" height="12" font="105"><b>DISCREPANCIES 2010.</b></text> <text top="182" left="289" width="21" height="12" font="105"><b>2010</b></text> <text top="182" left="386" width="90" height="12" font="105"><b>Discrepancies(A-B)</b></text> <text top="198" left="215" width="21" height="12" font="105"><b>GHS</b></text> <text top="198" left="289" width="21" height="12" font="105"><b>GHS</b></text> <text top="198" left="386" width="21" height="12" font="105"><b>GHS</b></text> <text top="198" left="477" width="21" height="12" font="105"><b>GHS</b></text> <text top="213" left="94" width="92" height="12" font="105"><b>REVENUE STREAM</b></text> <text top="213" left="215" width="60" height="12" font="105"><b>Company(A)</b></text> <text top="213" left="289" width="73" height="12" font="105"><b>Government(B)</b></text> <text top="213" left="386" width="98" height="12" font="105"><b>over reporting(A&gt;B)</b></text> <text top="213" left="477" width="110" height="12" font="105"><b>Under Reporting(B&gt;A)</b></text> <text top="213" left="559" width="127" height="12" font="105"><b>Net Discrepancy Resolved</b></text> <text top="213" left="723" width="52" height="12" font="105"><b>unresolved</b></text> <text top="229" left="94" width="66" height="12" font="105"><b>Property Rate</b></text> <text top="245" left="94" width="106" height="12" font="42">Anglogold Ashanti-Obuasi</text> <text top="245" left="247" width="34" height="12" font="42">422,801</text> <text top="245" left="219" width="29" height="12" font="42"> </text> <text top="245" left="344" width="34" height="12" font="42">424,600</text> <text top="245" left="292" width="54" height="12" font="42"> </text> <text top="245" left="524" width="31" height="12" font="42">(1,799)</text> <text top="245" left="481" width="45" height="12" font="42"> </text> <text top="245" left="609" width="31" height="12" font="42">(1,799)</text> <text top="245" left="563" width="47" height="12" font="42"> </text> <text top="245" left="754" width="31" height="12" font="42">(1,799)</text> <text top="245" left="726" width="29" height="12" font="42"> </text> <text top="260" left="94" width="94" height="10" font="42">Anglogold -Iduaprim</text> <text top="260" left="252" width="29" height="12" font="42">35,908</text> <text top="260" left="219" width="36" height="12" font="42"> </text> <text top="260" left="356" width="26" height="12" font="42">65000</text> <text top="260" left="519" width="36" height="12" font="42">(29,092)</text> <text top="260" left="481" width="40" height="12" font="42"> </text> <text top="260" left="604" width="36" height="12" font="42">(29,092)</text> <text top="260" left="563" width="43" height="12" font="42"> </text> <text top="260" left="749" width="36" height="12" font="42">(29,092)</text> <text top="260" left="726" width="25" height="12" font="42"> </text> <text top="276" left="94" width="94" height="10" font="42">GSR-Prestea/Bogosu</text> <text top="276" left="252" width="29" height="12" font="42">20,967</text> <text top="276" left="219" width="36" height="12" font="42"> </text> <text top="276" left="441" width="29" height="12" font="42">20,967</text> <text top="276" left="390" width="54" height="12" font="42"> </text> <text top="276" left="607" width="29" height="12" font="42">20,967</text> <text top="276" left="563" width="47" height="12" font="42"> </text> <text top="276" left="753" width="29" height="12" font="42">20,967</text> <text top="276" left="726" width="29" height="12" font="42"> </text> <text top="292" left="94" width="85" height="10" font="42">Ghana Bauxite CO.</text> <text top="291" left="252" width="29" height="12" font="42">11,576</text> <text top="291" left="219" width="36" height="12" font="42"> </text> <text top="291" left="441" width="29" height="12" font="42">11,576</text> <text top="291" left="390" width="54" height="12" font="42"> </text> <text top="291" left="607" width="29" height="12" font="42">11,576</text> <text top="291" left="563" width="47" height="12" font="42"> </text> <text top="291" left="694" width="26" height="9" font="73">11,576</text> <text top="291" left="768" width="3" height="12" font="42">-</text> <text top="291" left="726" width="42" height="12" font="42"> </text> <text top="307" left="94" width="95" height="10" font="42">Ghana Manganse Co.</text> <text top="307" left="252" width="29" height="12" font="105"><b>31,698</b></text> <text top="307" left="219" width="36" height="12" font="105"><b> </b></text> <text top="308" left="351" width="28" height="8" font="106">31,697</text> <text top="308" left="292" width="60" height="8" font="106"> </text> <text top="307" left="464" width="5" height="12" font="42">1</text> <text top="307" left="390" width="76" height="12" font="42"> </text> <text top="307" left="631" width="5" height="12" font="42">1</text> <text top="307" left="563" width="69" height="12" font="42"> </text> <text top="307" left="777" width="5" height="12" font="42">1</text> <text top="307" left="726" width="51" height="12" font="42"> </text> <text top="323" left="94" width="86" height="10" font="42">Goldfields -Tarkwa</text> <text top="323" left="352" width="30" height="9" font="73">308,754</text> <text top="322" left="514" width="41" height="12" font="42">(308,754)</text> <text top="322" left="481" width="36" height="12" font="42"> </text> <text top="322" left="599" width="41" height="12" font="42">(308,754)</text> <text top="322" left="563" width="38" height="12" font="42"> </text> <text top="322" left="744" width="41" height="12" font="42">(308,754)</text> <text top="322" left="726" width="20" height="12" font="42"> </text> <text top="338" left="94" width="99" height="10" font="42">Abosso Goldfields Ltd</text> <text top="338" left="456" width="3" height="12" font="42">-</text> <text top="338" left="390" width="67" height="12" font="42"> </text> <text top="338" left="622" width="3" height="12" font="42">-</text> <text top="338" left="563" width="60" height="12" font="42"> </text> <text top="338" left="768" width="3" height="12" font="42">-</text> <text top="338" left="726" width="42" height="12" font="42"> </text> <text top="354" left="94" width="68" height="10" font="42">GSR(Wassa)Ltd</text> <text top="354" left="252" width="29" height="12" font="42">27,869</text> <text top="354" left="219" width="36" height="12" font="42"> </text> <text top="354" left="441" width="29" height="12" font="42">27,869</text> <text top="354" left="390" width="54" height="12" font="42"> </text> <text top="354" left="607" width="29" height="12" font="42">27,869</text> <text top="354" left="563" width="47" height="12" font="42"> </text> <text top="354" left="753" width="29" height="12" font="42">27,869</text> <text top="354" left="726" width="29" height="12" font="42"> </text> <text top="369" left="94" width="106" height="10" font="42">Chirano Gold Mines Ltd</text> <text top="369" left="252" width="29" height="12" font="105"><b>57,492</b></text> <text top="369" left="219" width="36" height="12" font="105"><b> </b></text> <text top="369" left="441" width="29" height="12" font="42">57,492</text> <text top="369" left="390" width="54" height="12" font="42"> </text> <text top="369" left="607" width="29" height="12" font="42">57,492</text> <text top="369" left="563" width="47" height="12" font="42"> </text> <text top="369" left="693" width="26" height="12" font="42">57492</text> <text top="369" left="768" width="3" height="12" font="42">-</text> <text top="369" left="726" width="42" height="12" font="42"> </text> <text top="385" left="94" width="117" height="10" font="42">Newmont Gold Ghana Ltd</text> <text top="385" left="456" width="3" height="12" font="42">-</text> <text top="385" left="390" width="67" height="12" font="42"> </text> <text top="385" left="622" width="3" height="12" font="42">-</text> <text top="385" left="563" width="60" height="12" font="42"> </text> <text top="385" left="768" width="3" height="12" font="42">-</text> <text top="385" left="726" width="42" height="12" font="42"> </text> <text top="401" left="94" width="95" height="10" font="105"><b>Total (Property Rate)</b></text> <text top="400" left="247" width="34" height="12" font="42">608,311</text> <text top="400" left="219" width="29" height="12" font="42"> </text> <text top="400" left="344" width="34" height="12" font="42">830,051</text> <text top="400" left="292" width="54" height="12" font="42"> </text> <text top="400" left="435" width="34" height="12" font="105"><b>117,905</b></text> <text top="400" left="390" width="47" height="12" font="105"><b> </b></text> <text top="400" left="514" width="41" height="12" font="42">(339,645)</text> <text top="400" left="481" width="36" height="12" font="42"> </text> <text top="400" left="599" width="41" height="12" font="42">(221,740)</text> <text top="400" left="563" width="38" height="12" font="42"> </text> <text top="400" left="686" width="29" height="12" font="42">69,068</text> <text top="400" left="648" width="40" height="12" font="42"> </text> <text top="400" left="744" width="41" height="12" font="42">(290,808)</text> <text top="400" left="726" width="20" height="12" font="42"> </text> <text top="416" left="622" width="3" height="12" font="42">-</text> <text top="416" left="563" width="60" height="12" font="42"> </text> <text top="416" left="768" width="3" height="12" font="42">-</text> <text top="416" left="726" width="42" height="12" font="42"> </text> <text top="432" left="94" width="73" height="10" font="105"><b>Mineral Royalty</b></text> <text top="431" left="622" width="3" height="12" font="42">-</text> <text top="431" left="563" width="60" height="12" font="42"> </text> <text top="431" left="768" width="3" height="12" font="42">-</text> <text top="431" left="726" width="42" height="12" font="42"> </text> <text top="447" left="94" width="106" height="12" font="42">Anglogold Ashanti-Obuasi</text> <text top="447" left="234" width="47" height="12" font="42">15,499,943</text> <text top="447" left="219" width="16" height="12" font="42"> </text> <text top="447" left="332" width="48" height="9" font="62">17,360,307</text> <text top="447" left="292" width="41" height="9" font="62"> </text> <text top="447" left="506" width="49" height="12" font="42">(1,860,364)</text> <text top="447" left="481" width="27" height="12" font="42"> </text> <text top="447" left="591" width="49" height="12" font="42">(1,860,364)</text> <text top="447" left="563" width="29" height="12" font="42"> </text> <text top="447" left="669" width="50" height="12" font="42">(1,860,364)</text> <text top="447" left="648" width="22" height="12" font="42"> </text> <text top="447" left="768" width="3" height="12" font="42">-</text> <text top="447" left="726" width="42" height="12" font="42"> </text> <text top="463" left="94" width="94" height="10" font="42">Anglogold -Iduaprim</text> <text top="463" left="239" width="42" height="12" font="42">9,070,786</text> <text top="463" left="219" width="22" height="12" font="42"> </text> <text top="463" left="337" width="42" height="9" font="62">9,070,786</text> <text top="463" left="292" width="47" height="9" font="62"> </text> <text top="463" left="456" width="3" height="12" font="42">-</text> <text top="463" left="390" width="67" height="12" font="42"> </text> <text top="463" left="622" width="3" height="12" font="42">-</text> <text top="463" left="563" width="60" height="12" font="42"> </text> <text top="463" left="768" width="3" height="12" font="42">-</text> <text top="463" left="726" width="42" height="12" font="42"> </text> <text top="479" left="94" width="94" height="10" font="42">GSR-Prestea/Bogosu</text> <text top="478" left="239" width="42" height="12" font="42">6,874,814</text> <text top="478" left="219" width="22" height="12" font="42"> </text> <text top="479" left="337" width="42" height="9" font="62">9,366,302</text> <text top="479" left="292" width="47" height="9" font="62"> </text> <text top="478" left="506" width="49" height="12" font="42">(2,491,488)</text> <text top="478" left="481" width="27" height="12" font="42"> </text> <text top="478" left="591" width="49" height="12" font="42">(2,491,488)</text> <text top="478" left="563" width="29" height="12" font="42"> </text> <text top="478" left="736" width="50" height="12" font="42">(2,491,488)</text> <text top="478" left="726" width="11" height="12" font="42"> </text> <text top="494" left="94" width="85" height="10" font="42">Ghana Bauxite CO.</text> <text top="494" left="239" width="42" height="12" font="105"><b>1,033,823</b></text> <text top="494" left="219" width="22" height="12" font="105"><b> </b></text> <text top="494" left="342" width="37" height="10" font="73">1,033,823</text> <text top="494" left="292" width="51" height="10" font="73"> </text> <text top="494" left="456" width="3" height="12" font="42">-</text> <text top="494" left="390" width="67" height="12" font="42"> </text> <text top="494" left="622" width="3" height="12" font="42">-</text> <text top="494" left="563" width="60" height="12" font="42"> </text> <text top="510" left="94" width="95" height="10" font="42">Ghana Manganse Co.</text> <text top="509" left="239" width="42" height="12" font="42">3,764,674</text> <text top="509" left="219" width="22" height="12" font="42"> </text> <text top="510" left="342" width="37" height="10" font="73">3,764,675</text> <text top="510" left="292" width="51" height="10" font="73"> </text> <text top="509" left="543" width="12" height="12" font="42">(1)</text> <text top="509" left="481" width="65" height="12" font="42"> </text> <text top="509" left="628" width="12" height="12" font="42">(1)</text> <text top="509" left="563" width="67" height="12" font="42"> </text> <text top="509" left="773" width="12" height="12" font="42">(1)</text> <text top="509" left="726" width="49" height="12" font="42"> </text> <text top="525" left="94" width="86" height="10" font="42">Goldfields -Tarkwa</text> <text top="525" left="234" width="47" height="12" font="42">36,139,824</text> <text top="525" left="219" width="16" height="12" font="42"> </text> <text top="526" left="337" width="41" height="10" font="73">43,747,093</text> <text top="526" left="292" width="47" height="10" font="73"> </text> <text top="525" left="506" width="49" height="12" font="42">(7,607,269)</text> <text top="525" left="481" width="27" height="12" font="42"> </text> <text top="525" left="591" width="49" height="12" font="42">(7,607,269)</text> <text top="525" left="563" width="29" height="12" font="42"> </text> <text top="525" left="679" width="40" height="12" font="42">-7607269</text> <text top="525" left="768" width="3" height="12" font="42">-</text> <text top="525" left="726" width="42" height="12" font="42"> </text> <text top="541" left="94" width="99" height="10" font="42">Abosso Goldfields Ltd</text> <text top="540" left="234" width="47" height="12" font="42">15,619,076</text> <text top="540" left="219" width="16" height="12" font="42"> </text> <text top="541" left="337" width="41" height="10" font="73">12,638,871</text> <text top="541" left="292" width="47" height="10" font="73"> </text> <text top="540" left="427" width="42" height="12" font="42">2,980,205</text> <text top="540" left="390" width="40" height="12" font="42"> </text> <text top="540" left="594" width="42" height="12" font="42">2,980,205</text> <text top="540" left="563" width="34" height="12" font="42"> </text> <text top="540" left="683" width="36" height="12" font="42">2980205</text> <text top="540" left="768" width="3" height="12" font="42">-</text> <text top="540" left="726" width="42" height="12" font="42"> </text> <text top="557" left="94" width="68" height="10" font="42">GSR(Wassa)Ltd</text> <text top="556" left="234" width="47" height="12" font="42">11,584,285</text> <text top="556" left="219" width="16" height="12" font="42"> </text> <text top="557" left="342" width="37" height="10" font="73">9,600,151</text> <text top="557" left="292" width="51" height="10" font="73"> </text> <text top="556" left="427" width="42" height="12" font="42">1,984,134</text> <text top="556" left="390" width="40" height="12" font="42"> </text> <text top="556" left="594" width="42" height="12" font="42">1,984,134</text> <text top="556" left="563" width="34" height="12" font="42"> </text> <text top="556" left="740" width="42" height="12" font="42">1,984,134</text> <text top="556" left="726" width="16" height="12" font="42"> </text> <text top="572" left="94" width="106" height="10" font="42">Chirano Gold Mines Ltd</text> <text top="572" left="234" width="47" height="12" font="42">21,637,098</text> <text top="572" left="219" width="16" height="12" font="42"> </text> <text top="572" left="332" width="48" height="9" font="62">17,247,431</text> <text top="572" left="292" width="41" height="9" font="62"> </text> <text top="572" left="427" width="42" height="12" font="42">4,389,667</text> <text top="572" left="390" width="40" height="12" font="42"> </text> <text top="572" left="594" width="42" height="12" font="42">4,389,667</text> <text top="572" left="563" width="34" height="12" font="42"> </text> <text top="572" left="683" width="36" height="12" font="42">4389667</text> <text top="572" left="768" width="3" height="12" font="42">-</text> <text top="572" left="726" width="42" height="12" font="42"> </text> <text top="588" left="94" width="117" height="10" font="42">Newmont Gold Ghana Ltd</text> <text top="587" left="234" width="47" height="12" font="107">26,624,466</text> <text top="587" left="219" width="16" height="12" font="107"> </text> <text top="588" left="332" width="48" height="9" font="62">26,624,466</text> <text top="588" left="292" width="41" height="9" font="62"> </text> <text top="587" left="456" width="3" height="12" font="42">-</text> <text top="587" left="390" width="67" height="12" font="42"> </text> <text top="587" left="622" width="3" height="12" font="42">-</text> <text top="587" left="563" width="60" height="12" font="42"> </text> <text top="587" left="768" width="3" height="12" font="42">-</text> <text top="587" left="726" width="42" height="12" font="42"> </text> <text top="603" left="94" width="103" height="10" font="105"><b>Total(Mineral Royalty)</b></text> <text top="603" left="232" width="53" height="12" font="42">147,848,789</text> <text top="603" left="326" width="53" height="12" font="42">150,453,905</text> <text top="603" left="292" width="36" height="12" font="42"> </text> <text top="603" left="427" width="42" height="12" font="105"><b>9,354,006</b></text> <text top="603" left="390" width="40" height="12" font="105"><b> </b></text> <text top="603" left="501" width="55" height="12" font="105"><b>(11,959,122)</b></text> <text top="603" left="481" width="22" height="12" font="105"><b> </b></text> <text top="603" left="591" width="49" height="12" font="42">(2,605,116)</text> <text top="603" left="563" width="29" height="12" font="42"> </text> <text top="603" left="669" width="50" height="12" font="42">(2,097,761)</text> <text top="603" left="648" width="22" height="12" font="42"> </text> <text top="603" left="744" width="41" height="12" font="42">(507,355)</text> <text top="603" left="726" width="20" height="12" font="42"> </text> <text top="634" left="94" width="62" height="10" font="105"><b>Corporate tax</b></text> <text top="650" left="94" width="106" height="12" font="42">Anglogold Ashanti-Obuasi</text> <text top="666" left="94" width="94" height="10" font="42">Anglogold -Iduaprim</text> <text top="666" left="338" width="41" height="8" font="106">8,557,346</text> <text top="666" left="292" width="49" height="8" font="106"> </text> <text top="665" left="506" width="49" height="12" font="42">(8,557,346)</text> <text top="665" left="481" width="27" height="12" font="42"> </text> <text top="665" left="591" width="49" height="12" font="42">(8,557,346)</text> <text top="665" left="563" width="29" height="12" font="42"> </text> <text top="665" left="679" width="40" height="12" font="42">-8557346</text> <text top="665" left="768" width="3" height="12" font="42">-</text> <text top="665" left="726" width="42" height="12" font="42"> </text> <text top="681" left="94" width="94" height="10" font="42">GSR-Prestea/Bogosu</text> <text top="682" left="366" width="3" height="8" font="106">-</text> <text top="682" left="292" width="76" height="8" font="106"> </text> <text top="681" left="456" width="3" height="12" font="42">-</text> <text top="681" left="390" width="67" height="12" font="42"> </text> <text top="681" left="622" width="3" height="12" font="42">-</text> <text top="681" left="563" width="60" height="12" font="42"> </text> <text top="681" left="768" width="3" height="12" font="42">-</text> <text top="681" left="726" width="42" height="12" font="42"> </text> <text top="697" left="94" width="85" height="10" font="42">Ghana Bauxite CO.</text> <text top="697" left="366" width="3" height="8" font="106">-</text> <text top="697" left="292" width="76" height="8" font="106"> </text> <text top="696" left="456" width="3" height="12" font="42">-</text> <text top="696" left="390" width="67" height="12" font="42"> </text> <text top="696" left="622" width="3" height="12" font="42">-</text> <text top="696" left="563" width="60" height="12" font="42"> </text> <text top="696" left="768" width="3" height="12" font="42">-</text> <text top="696" left="726" width="42" height="12" font="42"> </text> <text top="712" left="94" width="95" height="10" font="42">Ghana Manganse Co.</text> <text top="712" left="239" width="42" height="12" font="42">7,560,048</text> <text top="712" left="219" width="22" height="12" font="42"> </text> <text top="713" left="338" width="41" height="8" font="106">7,554,049</text> <text top="713" left="292" width="49" height="8" font="106"> </text> <text top="712" left="446" width="24" height="12" font="42">5,999</text> <text top="712" left="390" width="58" height="12" font="42"> </text> <text top=" 712" left="613" width="24" height="12" font="42">5,999</text> <text top="712" left="563" width="51" height="12" font="42"> </text> <text top="712" left="758" width="24" height="12" font="42">5,999</text> <text top="712" left="726" width="34" height="12" font="42"> </text> <text top="728" left="94" width="86" height="10" font="42">Goldfields -Tarkwa</text> <text top="727" left="234" width="47" height="12" font="42">78,650,353</text> <text top="727" left="219" width="16" height="12" font="42"> </text> <text top="728" left="333" width="46" height="8" font="106">78,650,353</text> <text top="728" left="292" width="42" height="8" font="106"> </text> <text top="727" left="456" width="3" height="12" font="42">-</text> <text top="727" left="390" width="67" height="12" font="42"> </text> <text top="727" left="622" width="3" height="12" font="42">-</text> <text top="727" left="563" width="60" height="12" font="42"> </text> <text top="727" left="768" width="3" height="12" font="42">-</text> <text top="727" left="726" width="42" height="12" font="42"> </text> <text top="743" left="94" width="99" height="10" font="42">Abosso Goldfields Ltd</text> <text top="743" left="234" width="47" height="12" font="42">32,611,150</text> <text top="743" left="219" width="16" height="12" font="42"> </text> <text top="744" left="333" width="46" height="8" font="106">30,472,900</text> <text top="744" left="292" width="42" height="8" font="106"> </text> <text top="743" left="427" width="42" height="12" font="42">2,138,250</text> <text top="743" left="390" width="40" height="12" font="42"> </text> <text top="743" left="594" width="42" height="12" font="42">2,138,250</text> <text top="743" left="563" width="34" height="12" font="42"> </text> <text top="743" left="683" width="36" height="12" font="42">2138250</text> <text top="743" left="768" width="3" height="12" font="42">-</text> <text top="743" left="726" width="42" height="12" font="42"> </text> <text top="759" left="94" width="68" height="10" font="42">GSR(Wassa)Ltd</text> <text top="760" left="366" width="3" height="8" font="106">-</text> <text top="760" left="292" width="76" height="8" font="106"> </text> <text top="759" left="456" width="3" height="12" font="42">-</text> <text top="759" left="390" width="67" height="12" font="42"> </text> <text top="759" left="622" width="3" height="12" font="42">-</text> <text top="759" left="563" width="60" height="12" font="42"> </text> <text top="759" left="768" width="3" height="12" font="42">-</text> <text top="759" left="726" width="42" height="12" font="42"> </text> <text top="774" left="94" width="106" height="10" font="42">Chirano Gold Mines Ltd</text> <text top="775" left="351" width="28" height="8" font="106">15,085</text> <text top="775" left="292" width="60" height="8" font="106"> </text> <text top="774" left="519" width="36" height="12" font="42">(15,085)</text> <text top="774" left="481" width="40" height="12" font="42"> </text> <text top="774" left="604" width="36" height="12" font="42">(15,085)</text> <text top="774" left="563" width="43" height="12" font="42"> </text> <text top="774" left="689" width="30" height="12" font="42">-15085</text> <text top="774" left="768" width="3" height="12" font="42">-</text> <text top="774" left="726" width="42" height="12" font="42"> </text> <text top="790" left="94" width="117" height="10" font="42">Newmont Gold Ghana Ltd</text> <text top="790" left="267" width="3" height="12" font="42">-</text> <text top="790" left="219" width="49" height="12" font="42"> </text> <text top="791" left="366" width="3" height="8" font="106">-</text> <text top="791" left="292" width="76" height="8" font="106"> </text> <text top="790" left="456" width="3" height="12" font="42">-</text> <text top="790" left="390" width="67" height="12" font="42"> </text> <text top="790" left="622" width="3" height="12" font="42">-</text> <text top="790" left="563" width="60" height="12" font="42"> </text> <text top="790" left="768" width="3" height="12" font="42">-</text> <text top="790" left="726" width="42" height="12" font="42"> </text> <text top="806" left="94" width="93" height="10" font="105"><b>Total(corporate Tax)</b></text> <text top="805" left="228" width="53" height="12" font="105"><b>118,821,551</b></text> <text top="805" left="219" width="11" height="12" font="105"><b> </b></text> <text top="805" left="326" width="53" height="12" font="105"><b>125,249,733</b></text> <text top="805" left="292" width="36" height="12" font="105"><b> </b></text> <text top="805" left="427" width="42" height="12" font="105"><b>2,144,249</b></text> <text top="805" left="390" width="40" height="12" font="105"><b> </b></text> <text top="805" left="506" width="50" height="12" font="105"><b>(8,572,431)</b></text> <text top="805" left="481" width="27" height="12" font="105"><b> </b></text> <text top="805" left="591" width="49" height="12" font="42">(6,428,182)</text> <text top="805" left="563" width="29" height="12" font="42"> </text> <text top="805" left="669" width="50" height="12" font="105"><b>(6,434,181)</b></text> <text top="805" left="648" width="22" height="12" font="105"><b> </b></text> <text top="805" left="758" width="24" height="12" font="42">5,999</text> <text top="805" left="726" width="34" height="12" font="42"> </text> <text top="837" left="94" width="46" height="10" font="105"><b>Dividends</b></text> <text top="852" left="94" width="106" height="12" font="42">Anglogold Ashanti-Obuasi</text> <text top="868" left="94" width="116" height="12" font="42">Anglogold Ashanti -Iduaprim</text> <text top="868" left="538" width="3" height="12" font="42">-</text> <text top="868" left="481" width="58" height="12" font="42"> </text> <text top="883" left="94" width="10" height="12" font="42">**</text> <text top="883" left="239" width="42" height="12" font="42">2,914,288</text> <text top="883" left="219" width="22" height="12" font="42"> </text> <text top="884" left="338" width="41" height="8" font="106">2,976,370</text> <text top="884" left="292" width="49" height="8" font="106"> </text> <text top="883" left="519" width="36" height="12" font="42">(62,082)</text> <text top="883" left="481" width="40" height="12" font="42"> </text> <text top="883" left="604" width="36" height="12" font="42">(62,082)</text> <text top="883" left="563" width="43" height="12" font="42"> </text> <text top="883" left="683" width="36" height="12" font="42">(62,082)</text> <text top="883" left="648" width="36" height="12" font="42"> </text> <text top="883" left="768" width="3" height="12" font="42">-</text> <text top="883" left="726" width="42" height="12" font="42"> </text> <text top="899" left="94" width="90" height="12" font="42">GSR(Prestea/Bogosu)</text> <text top="899" left="538" width="3" height="12" font="42">-</text> <text top="899" left="481" width="58" height="12" font="42"> </text> <text top="899" left="622" width="3" height="12" font="42">-</text> <text top="899" left="563" width="60" height="12" font="42"> </text> <text top="899" left="768" width="3" height="12" font="42">-</text> <text top="899" left="726" width="42" height="12" font="42"> </text> <text top="915" left="94" width="75" height="12" font="42">Ghana Bauxite Co.</text> <text top="915" left="538" width="3" height="12" font="42">-</text> <text top="915" left="481" width="58" height="12" font="42"> </text> <text top="915" left="622" width="3" height="12" font="42">-</text> <text top="915" left="563" width="60" height="12" font="42"> </text> <text top="915" left="768" width="3" height="12" font="42">-</text> <text top="915" left="726" width="42" height="12" font="42"> </text> <text top="930" left="94" width="84" height="12" font="42">Ghana Manganse Co.</text> <text top="931" left="249" width="33" height="8" font="106">832,542</text> <text top="931" left="218" width="31" height="8" font="106"> </text> <text top="931" left="346" width="33" height="8" font="106">832,542</text> <text top="931" left="292" width="56" height="8" font="106"> </text> <text top="930" left="538" width="3" height="12" font="42">-</text> <text top="930" left="481" width="58" height="12" font="42"> </text> <text top="930" left="622" width="3" height="12" font="42">-</text> <text top="930" left="563" width="60" height="12" font="42"> </text> <text top="930" left="768" width="3" height="12" font="42">-</text> <text top="930" left="726" width="42" height="12" font="42"> </text> <text top="946" left="94" width="78" height="12" font="42">Goldfields -Tarkwa</text> <text top="947" left="333" width="46" height="8" font="106">14,342,500</text> <text top="947" left="292" width="42" height="8" font="106"> </text> <text top="946" left="501" width="55" height="12" font="42">(14,342,500)</text> <text top="946" left="481" width="22" height="12" font="42"> </text> <text top="946" left="585" width="55" height="12" font="42">(14,342,500)</text> <text top="946" left="563" width="25" height="12" font="42"> </text> <text top="946" left="664" width="55" height="12" font="42">(14,342,500)</text> <text top="946" left="648" width="18" height="12" font="42"> </text> <text top="946" left="768" width="3" height="12" font="42">-</text> <text top="946" left="726" width="42" height="12" font="42"> </text> <text top="961" left="94" width="90" height="12" font="42">Abosso Goldfields Ltd</text> <text top="962" left="338" width="41" height="8" font="106">4,288,800</text> <text top="962" left="292" width="49" height="8" font="106"> </text> <text top="961" left="506" width="49" height="12" font="42">(4,288,800)</text> <text top="961" left="481" width="27" height="12" font="42"> </text> <text top="961" left="591" width="49" height="12" font="42">(4,288,800)</text> <text top="961" left="563" width="29" height="12" font="42"> </text> <text top="961" left="736" width="50" height="12" font="42">(4,288,800)</text> <text top="961" left="726" width="11" height="12" font="42"> </text> <text top="977" left="94" width="48" height="12" font="42">GSR-Wassa</text> <text top="977" left="538" width="3" height="12" font="42">-</text> <text top="977" left="481" width="58" height="12" font="42"> </text> <text top="977" left="622" width="3" height="12" font="42">-</text> <text top="977" left="563" width="60" height="12" font="42"> </text> <text top="977" left="768" width="3" height="12" font="42">-</text> <text top="977" left="726" width="42" height="12" font="42"> </text> <text top="992" left="94" width="98" height="12" font="42">Chirano Gold Mines Ltd</text> <text top="992" left="538" width="3" height="12" font="42">-</text> <text top="992" left="481" width="58" height="12" font="42"> </text> <text top="992" left="622" width="3" height="12" font="42">-</text> <text top="992" left="563" width="60" height="12" font="42"> </text> <text top="992" left="768" width="3" height="12" font="42">-</text> <text top="992" left="726" width="42" height="12" font="42"> </text> <text top="1008" left="94" width="108" height="12" font="42">Newmont Gold Ghana Ltd</text> <text top="1008" left="538" width="3" height="12" font="42">-</text> <text top="1008" left="481" width="58" height="12" font="42"> </text> <text top="1008" left="622" width="3" height="12" font="42">-</text> <text top="1008" left="563" width="60" height="12" font="42"> </text> <text top="1008" left="768" width="3" height="12" font="42">-</text> <text top="1008" left="726" width="42" height="12" font="42"> </text> <text top="1024" left="94" width="80" height="12" font="105"><b>Total(Dividends)</b></text> <text top="1024" left="239" width="42" height="12" font="105"><b>3,746,830</b></text> <text top="1024" left="219" width="22" height="12" font="105"><b> </b></text> <text top="1024" left="331" width="47" height="12" font="105"><b>22,440,212</b></text> <text top="1024" left="292" width="40" height="12" font="105"><b> </b></text> <text top="1024" left="501" width="55" height="12" font="105"><b>(18,693,382)</b></text> <text top="1024" left="481" width="22" height="12" font="105"><b> </b></text> <text top="1024" left="585" width="55" height="12" font="42">(18,693,382)</text> <text top="1024" left="563" width="25" height="12" font="42"> </text> <text top="1024" left="664" width="55" height="12" font="42">(14,404,582)</text> <text top="1024" left="648" width="18" height="12" font="42"> </text> <text top="1024" left="736" width="50" height="12" font="42">(4,288,800)</text> <text top="1024" left="726" width="11" height="12" font="42"> </text> <text top="1055" left="669" width="50" height="12" font="42">(5,080,964)</text> <text top="1055" left="648" width="22" height="12" font="42"> </text> </page> <page number="78" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="108" size="6" family="Times" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">69 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="182" left="92" width="4" height="14" font="3"> </text> <text top="1041" left="788" width="4" height="14" font="3"> </text> <text top="1059" left="92" width="4" height="14" font="3"> </text> <text top="1081" left="92" width="4" height="14" font="3"> </text> <text top="204" left="94" width="64" height="11" font="65"><b>APPENDIX 5B</b></text> <text top="204" left="206" width="98" height="11" font="65"><b>DISCREPANCIES 2011.</b></text> <text top="204" left="349" width="84" height="11" font="65"><b>Discrepancies(A-B)</b></text> <text top="216" left="206" width="20" height="11" font="65"><b>GHS</b></text> <text top="216" left="277" width="20" height="11" font="65"><b>GHS</b></text> <text top="216" left="349" width="20" height="11" font="65"><b>GHS</b></text> <text top="216" left="450" width="20" height="11" font="65"><b>GHS</b></text> <text top="229" left="94" width="85" height="11" font="65"><b>REVENUE STREAM</b></text> <text top="229" left="206" width="56" height="11" font="65"><b>Company(A)</b></text> <text top="229" left="277" width="402" height="11" font="65"><b>Government(B) over reporting(A&gt;B) Under Reporting(B&gt;A) Net Discrepancy Resolved</b></text> <text top="229" left="724" width="48" height="11" font="65"><b>unresolved</b></text> <text top="244" left="94" width="62" height="11" font="65"><b>Property Rate</b></text> <text top="258" left="94" width="99" height="11" font="50">Anglogold Ashanti-Obuasi</text> <text top="258" left="238" width="32" height="11" font="50">424,600</text> <text top="258" left="210" width="29" height="11" font="50"> </text> <text top="259" left="315" width="28" height="9" font="108">424,600</text> <text top="259" left="280" width="37" height="9" font="108"> </text> <text top="258" left="539" width="3" height="11" font="50">-</text> <text top="258" left="453" width="87" height="11" font="50"> </text> <text top="258" left="618" width="3" height="11" font="50">-</text> <text top="258" left="562" width="58" height="11" font="50"> </text> <text top="258" left="769" width="3" height="11" font="50">-</text> <text top="258" left="715" width="56" height="11" font="50"> </text> <text top="273" left="94" width="88" height="9" font="50">Anglogold -Iduaprim</text> <text top="273" left="246" width="27" height="11" font="50">77,566</text> <text top="273" left="416" width="27" height="11" font="50">77,566</text> <text top="273" left="352" width="65" height="11" font="50"> </text> <text top="273" left="605" width="27" height="11" font="50">77,566</text> <text top="273" left="562" width="44" height="11" font="50"> </text> <text top="273" left="755" width="27" height="11" font="50">77,566</text> <text top="273" left="715" width="42" height="11" font="50"> </text> <text top="289" left="94" width="88" height="9" font="50">GSR-Prestea/Bogosu</text> <text top="287" left="242" width="28" height="12" font="42">31,194</text> <text top="287" left="210" width="33" height="12" font="42"> </text> <text top="288" left="416" width="27" height="11" font="50">31,194</text> <text top="288" left="352" width="65" height="11" font="50"> </text> <text top="288" left="605" width="27" height="11" font="50">31,194</text> <text top="288" left="562" width="44" height="11" font="50"> </text> <text top="288" left="755" width="27" height="11" font="50">31,194</text> <text top="288" left="715" width="42" height="11" font="50"> </text> <text top="304" left="94" width="79" height="9" font="50">Ghana Bauxite CO.</text> <text top="303" left="242" width="28" height="12" font="42">11,576</text> <text top="303" left="210" width="33" height="12" font="42"> </text> <text top="303" left="416" width="27" height="11" font="50">11,576</text> <text top="303" left="352" width="65" height="11" font="50"> </text> <text top="303" left="605" width="27" height="11" font="50">11,576</text> <text top="303" left="562" width="44" height="11" font="50"> </text> <text top="303" left="683" width="24" height="11" font="50">11576</text> <text top="303" left="769" width="3" height="11" font="50">-</text> <text top="303" left="715" width="56" height="11" font="50"> </text> <text top="319" left="94" width="88" height="9" font="50">Ghana Manganse Co.</text> <text top="318" left="242" width="28" height="12" font="42">42,226</text> <text top="318" left="210" width="33" height="12" font="42"> </text> <text top="319" left="416" width="27" height="11" font="50">42,226</text> <text top="319" left="352" width="65" height="11" font="50"> </text> <text top="319" left="605" width="27" height="11" font="50">42,226</text> <text top="319" left="562" width="44" height="11" font="50"> </text> <text top="319" left="755" width="27" height="11" font="50">42,226</text> <text top="319" left="715" width="42" height="11" font="50"> </text> <text top="334" left="94" width="80" height="9" font="50">Goldfields -Tarkwa</text> <text top="334" left="429" width="3" height="11" font="50">-</text> <text top="334" left="352" width="79" height="11" font="50"> </text> <text top="334" left="618" width="3" height="11" font="50">-</text> <text top="334" left="562" width="58" height="11" font="50"> </text> <text top="334" left="769" width="3" height="11" font="50">-</text> <text top="334" left="715" width="56" height="11" font="50"> </text> <text top="350" left="94" width="93" height="9" font="50">Abosso Goldfields Ltd</text> <text top="349" left="429" width="3" height="11" font="50">-</text> <text top="349" left="352" width="79" height="11" font="50"> </text> <text top="349" left="618" width="3" height="11" font="50">-</text> <text top="349" left="562" width="58" height="11" font="50"> </text> <text top="349" left="769" width="3" height="11" font="50">-</text> <text top="349" left="715" width="56" height="11" font="50"> </text> <text top="365" left="94" width="63" height="9" font="50">GSR(Wassa)Ltd</text> <text top="364" left="242" width="28" height="12" font="42">29,869</text> <text top="364" left="210" width="33" height="12" font="42"> </text> <text top="364" left="416" width="27" height="11" font="50">29,869</text> <text top="364" left="352" width="65" height="11" font="50"> </text> <text top="364" left="605" width="27" height="11" font="50">29,869</text> <text top="364" left="562" width="44" height="11" font="50"> </text> <text top="364" left="755" width="27" height="11" font="50">29,869</text> <text top="364" left="715" width="42" height="11" font="50"> </text> <text top="380" left="94" width="99" height="9" font="50">Chirano Gold Mines Ltd</text> <text top="379" left="242" width="28" height="12" font="42">57,492</text> <text top="379" left="210" width="33" height="12" font="42"> </text> <text top="380" left="416" width="27" height="11" font="50">57,492</text> <text top="380" left="352" width="65" height="11" font="50"> </text> <text top="380" left="605" width="27" height="11" font="50">57,492</text> <text top="380" left="562" width="44" height="11" font="50"> </text> <text top="380" left="677" width="27" height="11" font="50">57,492</text> <text top="380" left="642" width="38" height="11" font="50"> </text> <text top="380" left="769" width="3" height="11" font="50">-</text> <text top="380" left="715" width="56" height="11" font="50"> </text> <text top="395" left="94" width="109" height="9" font="50">Newmont Gold Ghana Ltd</text> <text top="395" left="429" width="3" height="11" font="50">-</text> <text top="395" left="352" width="79" height="11" font="50"> </text> <text top="395" left="618" width="3" height="11" font="50">-</text> <text top="395" left="562" width="58" height="11" font="50"> </text> <text top="395" left="769" width="3" height="11" font="50">-</text> <text top="395" left="715" width="56" height="11" font="50"> </text> <text top="410" left="94" width="89" height="9" font="65"><b>Total (Property Rate)</b></text> <text top="409" left="238" width="32" height="11" font="65"><b>674,523</b></text> <text top="409" left="210" width="29" height="11" font="65"><b> </b></text> <text top="409" left="411" width="32" height="11" font="65"><b>249,923</b></text> <text top="409" left="352" width="60" height="11" font="65"><b> </b></text> <text top="409" left="539" width="3" height="11" font="50">-</text> <text top="409" left="453" width="87" height="11" font="50"> </text> <text top="409" left="600" width="32" height="11" font="50">249,923</text> <text top="409" left="562" width="40" height="11" font="50"> </text> <text top="409" left="677" width="27" height="11" font="50">69,068</text> <text top="409" left="642" width="38" height="11" font="50"> </text> <text top="409" left="751" width="32" height="11" font="50">180,855</text> <text top="409" left="715" width="38" height="11" font="50"> </text> <text top="424" left="94" width="55" height="9" font="65"><b>Ground Rent</b></text> <text top="439" left="94" width="93" height="9" font="50">Ghana Manganese Ltd</text> <text top="438" left="237" width="33" height="12" font="42">134,290</text> <text top="438" left="210" width="30" height="12" font="42"> </text> <text top="439" left="411" width="32" height="11" font="50">134,290</text> <text top="439" left="352" width="60" height="11" font="50"> </text> <text top="439" left="600" width="32" height="11" font="50">134,290</text> <text top="439" left="562" width="40" height="11" font="50"> </text> <text top="439" left="751" width="32" height="11" font="65"><b>134,290</b></text> <text top="439" left="715" width="38" height="11" font="65"><b> </b></text> <text top="454" left="94" width="83" height="9" font="65"><b>Total(Ground Rent)</b></text> <text top="460" left="618" width="3" height="11" font="50">-</text> <text top="460" left="562" width="58" height="11" font="50"> </text> <text top="460" left="769" width="3" height="11" font="50">-</text> <text top="460" left="715" width="56" height="11" font="50"> </text> <text top="475" left="94" width="68" height="9" font="65"><b>Mineral Royalty</b></text> <text top="474" left="618" width="3" height="11" font="50">-</text> <text top="474" left="562" width="58" height="11" font="50"> </text> <text top="474" left="769" width="3" height="11" font="50">-</text> <text top="474" left="715" width="56" height="11" font="50"> </text> <text top="489" left="94" width="99" height="11" font="50">Anglogold Ashanti-Obuasi</text> <text top="489" left="229" width="44" height="11" font="50">19,665,203</text> <text top="489" left="297" width="44" height="11" font="50">19,665,202</text> <text top="489" left="280" width="19" height="11" font="50"> </text> <text top="489" left="438" width="5" height="11" font="50">1</text> <text top="489" left="352" width="87" height="11" font="50"> </text> <text top="489" left="627" width="5" height="11" font="50">1</text> <text top="489" left="562" width="67" height="11" font="50"> </text> <text top="489" left="778" width="5" height="11" font="50">1</text> <text top="489" left="715" width="65" height="11" font="50"> </text> <text top="504" left="94" width="88" height="9" font="50">Anglogold -Iduaprim</text> <text top="503" left="226" width="44" height="11" font="50">13,691,446</text> <text top="503" left="210" width="17" height="11" font="50"> </text> <text top="503" left="297" width="44" height="11" font="50">13,691,446</text> <text top="503" left="280" width="19" height="11" font="50"> </text> <text top="503" left="429" width="3" height="11" font="50">-</text> <text top="503" left="352" width="79" height="11" font="50"> </text> <text top="503" left="618" width="3" height="11" font="50">-</text> <text top="503" left="562" width="58" height="11" font="50"> </text> <text top="503" left="769" width="3" height="11" font="50">-</text> <text top="503" left="715" width="56" height="11" font="50"> </text> <text top="518" left="94" width="78" height="9" font="50">Adamus resources</text> <text top="518" left="230" width="39" height="11" font="50">6,729,928</text> <text top="518" left="210" width="23" height="11" font="50"> </text> <text top="518" left="302" width="39" height="11" font="50">6,729,929</text> <text top="518" left="280" width="23" height="11" font="50"> </text> <text top="533" left="94" width="88" height="9" font="50">GSR-Prestea/Bogosu</text> <text top="532" left="230" width="39" height="11" font="50">8,451,056</text> <text top="532" left="210" width="23" height="11" font="50"> </text> <text top="532" left="297" width="44" height="11" font="50">12,573,619</text> <text top="532" left="280" width="19" height="11" font="50"> </text> <text top="532" left="509" width="46" height="11" font="50">(4,122,563)</text> <text top="532" left="453" width="58" height="11" font="50"> </text> <text top="532" left="589" width="46" height="11" font="50">(4,122,563)</text> <text top="532" left="562" width="27" height="11" font="50"> </text> <text top="532" left="739" width="46" height="11" font="50">(4,122,563)</text> <text top="532" left="715" width="27" height="11" font="50"> </text> <text top="547" left="94" width="79" height="9" font="50">Ghana Bauxite CO.</text> <text top="547" left="238" width="32" height="11" font="50">689,863</text> <text top="547" left="210" width="29" height="11" font="50"> </text> <text top="547" left="310" width="32" height="11" font="50">689,863</text> <text top="547" left="280" width="31" height="11" font="50"> </text> <text top="547" left="429" width="3" height="11" font="50">-</text> <text top="547" left="352" width="79" height="11" font="50"> </text> <text top="547" left="618" width="3" height="11" font="50">-</text> <text top="547" left="562" width="58" height="11" font="50"> </text> <text top="562" left="94" width="88" height="9" font="50">Ghana Manganse Co.</text> <text top="561" left="230" width="39" height="11" font="50">6,685,574</text> <text top="561" left="210" width="23" height="11" font="50"> </text> <text top="561" left="302" width="39" height="11" font="50">6,685,574</text> <text top="561" left="280" width="23" height="11" font="50"> </text> <text top="561" left="539" width="3" height="11" font="50">-</text> <text top="561" left="453" width="87" height="11" font="50"> </text> <text top="561" left="618" width="3" height="11" font="50">-</text> <text top="561" left="562" width="58" height="11" font="50"> </text> <text top="561" left="769" width="3" height="11" font="50">-</text> <text top="561" left="715" width="56" height="11" font="50"> </text> <text top="576" left="94" width="80" height="9" font="50">Goldfields -Tarkwa</text> <text top="576" left="226" width="44" height="11" font="50">55,503,839</text> <text top="576" left="210" width="17" height="11" font="50"> </text> <text top="576" left="297" width="44" height="11" font="50">57,693,232</text> <text top="576" left="280" width="19" height="11" font="50"> </text> <text top="576" left="509" width="46" height="11" font="50">(2,189,393)</text> <text top="576" left="453" width="58" height="11" font="50"> </text> <text top="576" left="589" width="46" height="11" font="50">(2,189,393)</text> <text top="576" left="562" width="27" height="11" font="50"> </text> <text top="576" left="670" width="37" height="11" font="50">-2189393</text> <text top="576" left="769" width="3" height="11" font="50">-</text> <text top="576" left="715" width="56" height="11" font="50"> </text> <text top="591" left="94" width="93" height="9" font="50">Abosso Goldfields Ltd</text> <text top="590" left="226" width="44" height="11" font="50">18,607,347</text> <text top="590" left="210" width="17" height="11" font="50"> </text> <text top="590" left="297" width="44" height="11" font="50">18,607,347</text> <text top="590" left="280" width="19" height="11" font="50"> </text> <text top="590" left="429" width="3" height="11" font="50">-</text> <text top="590" left="352" width="79" height="11" font="50"> </text> <text top="590" left="618" width="3" height="11" font="50">-</text> <text top="590" left="562" width="58" height="11" font="50"> </text> <text top="590" left="769" width="3" height="11" font="50">-</text> <text top="590" left="715" width="56" height="11" font="50"> </text> <text top="605" left="94" width="63" height="9" font="50">GSR(Wassa)Lt d</text> <text top="605" left="226" width="44" height="11" font="50">16,515,428</text> <text top="605" left="210" width="17" height="11" font="50"> </text> <text top="605" left="297" width="44" height="11" font="50">14,872,591</text> <text top="605" left="280" width="19" height="11" font="50"> </text> <text top="605" left="403" width="39" height="11" font="50">1,642,837</text> <text top="605" left="352" width="52" height="11" font="50"> </text> <text top="605" left="592" width="39" height="11" font="50">1,642,837</text> <text top="605" left="562" width="31" height="11" font="50"> </text> <text top="605" left="743" width="39" height="11" font="50">1,642,837</text> <text top="605" left="715" width="29" height="11" font="50"> </text> <text top="620" left="94" width="99" height="9" font="50">Chirano Gold Mines Ltd</text> <text top="620" left="229" width="44" height="11" font="50">17,355,550</text> <text top="620" left="297" width="44" height="11" font="50">19,129,768</text> <text top="620" left="280" width="19" height="11" font="50"> </text> <text top="620" left="509" width="46" height="11" font="50">(1,774,218)</text> <text top="620" left="453" width="58" height="11" font="50"> </text> <text top="620" left="589" width="46" height="11" font="50">(1,774,218)</text> <text top="620" left="562" width="27" height="11" font="50"> </text> <text top="620" left="670" width="37" height="11" font="50">-1774218</text> <text top="620" left="769" width="3" height="11" font="50">-</text> <text top="620" left="715" width="56" height="11" font="50"> </text> <text top="634" left="94" width="109" height="9" font="50">Newmont Gold Ghana Ltd</text> <text top="634" left="226" width="44" height="11" font="50">47,812,790</text> <text top="634" left="210" width="17" height="11" font="50"> </text> <text top="634" left="297" width="44" height="11" font="50">47,812,791</text> <text top="634" left="280" width="19" height="11" font="50"> </text> <text top="634" left="434" width="12" height="11" font="50">(1)</text> <text top="634" left="352" width="83" height="11" font="50"> </text> <text top="634" left="623" width="12" height="11" font="50">(1)</text> <text top="634" left="562" width="63" height="11" font="50"> </text> <text top="634" left="774" width="12" height="11" font="50">(1)</text> <text top="634" left="715" width="60" height="11" font="50"> </text> <text top="649" left="94" width="96" height="9" font="65"><b>Total(Mineral Royalty)</b></text> <text top="648" left="224" width="49" height="11" font="65"><b>211,708,024</b></text> <text top="648" left="293" width="49" height="11" font="65"><b>218,151,362</b></text> <text top="648" left="280" width="15" height="11" font="65"><b> </b></text> <text top="648" left="403" width="39" height="11" font="65"><b>1,642,837</b></text> <text top="648" left="352" width="52" height="11" font="65"><b> </b></text> <text top="648" left="509" width="47" height="11" font="65"><b>(8,086,174)</b></text> <text top="648" left="453" width="58" height="11" font="65"><b> </b></text> <text top="648" left="589" width="47" height="11" font="65"><b>(6,443,337)</b></text> <text top="648" left="562" width="27" height="11" font="65"><b> </b></text> <text top="648" left="661" width="47" height="11" font="65"><b>(3,963,611)</b></text> <text top="648" left="642" width="21" height="11" font="65"><b> </b></text> <text top="648" left="739" width="47" height="11" font="65"><b>(2,479,726)</b></text> <text top="648" left="715" width="27" height="11" font="65"><b> </b></text> <text top="666" left="94" width="58" height="9" font="65"><b>Corporate tax</b></text> <text top="680" left="94" width="99" height="11" font="50">Anglogold Ashanti-Obuasi</text> <text top="695" left="94" width="88" height="9" font="50">Anglogold -Iduaprim</text> <text top="695" left="297" width="44" height="11" font="50">56,794,976</text> <text top="695" left="280" width="19" height="11" font="50"> </text> <text top="695" left="504" width="51" height="11" font="50">(56,794,976)</text> <text top="695" left="453" width="52" height="11" font="50"> </text> <text top="695" left="584" width="51" height="11" font="50">(56,794,976)</text> <text top="695" left="562" width="23" height="11" font="50"> </text> <text top="695" left="660" width="48" height="11" font="50">-56,794,976</text> <text top="696" left="772" width="3" height="9" font="108">-</text> <text top="696" left="714" width="60" height="9" font="108"> </text> <text top="710" left="94" width="80" height="9" font="50">Adamus Resources</text> <text top="724" left="94" width="88" height="9" font="50">GSR-Prestea/Bogosu</text> <text top="724" left="429" width="3" height="11" font="50">-</text> <text top="724" left="352" width="79" height="11" font="50"> </text> <text top="724" left="618" width="3" height="11" font="50">-</text> <text top="724" left="562" width="58" height="11" font="50"> </text> <text top="725" left="772" width="3" height="9" font="108">-</text> <text top="725" left="714" width="60" height="9" font="108"> </text> <text top="739" left="94" width="79" height="9" font="50">Ghana Bauxite CO.</text> <text top="738" left="429" width="3" height="11" font="50">-</text> <text top="738" left="352" width="79" height="11" font="50"> </text> <text top="738" left="618" width="3" height="11" font="50">-</text> <text top="738" left="562" width="58" height="11" font="50"> </text> <text top="739" left="772" width="3" height="9" font="108">-</text> <text top="739" left="714" width="60" height="9" font="108"> </text> <text top="753" left="94" width="88" height="9" font="50">Ghana Manganse Co.</text> <text top="753" left="226" width="45" height="9" font="50">13,922,429</text> <text top="753" left="210" width="17" height="9" font="50"> </text> <text top="753" left="297" width="44" height="11" font="50">42,813,036</text> <text top="753" left="280" width="19" height="11" font="50"> </text> <text top="753" left="504" width="51" height="11" font="50">(28,890,607)</text> <text top="753" left="453" width="52" height="11" font="50"> </text> <text top="753" left="584" width="51" height="11" font="50">(28,890,607)</text> <text top="753" left="562" width="23" height="11" font="50"> </text> <text top="753" left="644" width="63" height="11" font="50">(28,890,607.00)</text> <text top="753" left="642" width="4" height="11" font="50"> </text> <text top="754" left="772" width="3" height="9" font="108">-</text> <text top="754" left="714" width="60" height="9" font="108"> </text> <text top="768" left="94" width="80" height="9" font="50">Goldfields -Tarkwa</text> <text top="768" left="221" width="50" height="9" font="50">184,674,712</text> <text top="768" left="210" width="13" height="9" font="50"> </text> <text top="767" left="293" width="49" height="11" font="50">214,666,712</text> <text top="767" left="280" width="15" height="11" font="50"> </text> <text top="767" left="504" width="51" height="11" font="50">(29,992,000)</text> <text top="767" left="453" width="52" height="11" font="50"> </text> <text top="767" left="584" width="51" height="11" font="50">(29,992,000)</text> <text top="767" left="562" width="23" height="11" font="50"> </text> <text top="767" left="656" width="51" height="11" font="50">(29,992,000)</text> <text top="767" left="642" width="17" height="11" font="50"> </text> <text top="768" left="772" width="3" height="9" font="108">-</text> <text top="768" left="714" width="60" height="9" font="108"> </text> <text top="782" left="94" width="93" height="9" font="50">Abosso Goldfields Ltd</text> <text top="782" left="226" width="44" height="11" font="50">41,296,620</text> <text top="782" left="210" width="17" height="11" font="50"> </text> <text top="782" left="297" width="44" height="11" font="50">53,362,556</text> <text top="782" left="280" width="19" height="11" font="50"> </text> <text top="782" left="504" width="51" height="11" font="50">(12,065,936)</text> <text top="782" left="453" width="52" height="11" font="50"> </text> <text top="782" left="584" width="51" height="11" font="50">(12,065,936)</text> <text top="782" left="562" width="23" height="11" font="50"> </text> <text top="782" left="665" width="42" height="11" font="50">-12065936</text> <text top="783" left="772" width="3" height="9" font="108">-</text> <text top="783" left="714" width="60" height="9" font="108"> </text> <text top="797" left="94" width="63" height="9" font="50">GSR(Wassa)Ltd</text> <text top="796" left="429" width="3" height="11" font="50">-</text> <text top="796" left="352" width="79" height="11" font="50"> </text> <text top="796" left="618" width="3" height="11" font="50">-</text> <text top="796" left="562" width="58" height="11" font="50"> </text> <text top="797" left="772" width="3" height="9" font="108">-</text> <text top="797" left="714" width="60" height="9" font="108"> </text> <text top="812" left="94" width="99" height="9" font="50">Chirano Gold Mines Ltd</text> <text top="812" left="229" width="45" height="9" font="50">46,349,031</text> <text top="811" left="297" width="44" height="11" font="50">28,890,606</text> <text top="811" left="280" width="19" height="11" font="50"> </text> <text top="811" left="399" width="44" height="11" font="50">17,458,425</text> <text top="811" left="352" width="48" height="11" font="50"> </text> <text top="811" left="587" width="44" height="11" font="50">17,458,425</text> <text top="811" left="562" width="27" height="11" font="50"> </text> <text top="811" left="660" width="44" height="11" font="50">17,458,425</text> <text top="811" left="642" width="19" height="11" font="50"> </text> <text top="812" left="772" width="3" height="9" font="108">-</text> <text top="812" left="714" width="60" height="9" font="108"> </text> <text top="826" left="94" width="109" height="9" font="50">Newmont Gold Ghana Ltd</text> <text top="826" left="221" width="50" height="9" font="50">139,590,210</text> <text top="826" left="210" width="13" height="9" font="50"> </text> <text top="826" left="293" width="49" height="11" font="50">103,297,879</text> <text top="826" left="280" width="15" height="11" font="50"> </text> <text top="826" left="399" width="44" height="11" font="50">36,292,331</text> <text top="826" left="352" width="48" height="11" font="50"> </text> <text top="826" left="587" width="44" height="11" font="50">36,292,331</text> <text top="826" left="562" width="27" height="11" font="50"> </text> <text top="826" left="660" width="44" height="11" font="50">36,292,331</text> <text top="826" left="642" width="19" height="11" font="50"> </text> <text top="826" left="772" width="3" height="9" font="108">-</text> <text top="826" left="714" width="60" height="9" font="108"> </text> <text top="840" left="94" width="86" height="9" font="65"><b>Total(corporate Tax)</b></text> <text top="840" left="399" width="44" height="11" font="65"><b>53,750,756</b></text> <text top="840" left="352" width="48" height="11" font="65"><b> </b></text> <text top="840" left="499" width="56" height="11" font="65"><b>(127,743,519)</b></text> <text top="840" left="453" width="48" height="11" font="65"><b> </b></text> <text top="840" left="584" width="51" height="11" font="50">(73,992,763)</text> <text top="840" left="562" width="23" height="11" font="50"> </text> <text top="840" left="656" width="51" height="11" font="50">(73,992,763)</text> <text top="840" left="642" width="17" height="11" font="50"> </text> <text top="841" left="772" width="3" height="9" font="108">-</text> <text top="841" left="714" width="60" height="9" font="108"> </text> <text top="858" left="94" width="43" height="9" font="65"><b>Dividends</b></text> <text top="873" left="94" width="99" height="11" font="50">Anglogold Ashanti-Obuasi</text> <text top="887" left="94" width="108" height="11" font="50">Anglogold Ashanti -Iduaprim</text> <text top="887" left="618" width="3" height="11" font="50">-</text> <text top="887" left="562" width="58" height="11" font="50"> </text> <text top="900" left="94" width="9" height="11" font="50">**</text> <text top="900" left="230" width="39" height="11" font="50">3,392,757</text> <text top="900" left="210" width="23" height="11" font="50"> </text> <text top="900" left="302" width="39" height="11" font="50">3,392,503</text> <text top="900" left="280" width="23" height="11" font="50"> </text> <text top="900" left="428" width="14" height="11" font="50">254</text> <text top="900" left="352" width="77" height="11" font="50"> </text> <text top="900" left="617" width="14" height="11" font="50">254</text> <text top="900" left="562" width="56" height="11" font="50"> </text> <text top="900" left="768" width="14" height="11" font="50">254</text> <text top="900" left="715" width="54" height="11" font="50"> </text> <text top="913" left="94" width="86" height="11" font="50">Adamus Resources Ltd</text> <text top="913" left="429" width="3" height="11" font="50">-</text> <text top="913" left="352" width="79" height="11" font="50"> </text> <text top="913" left="539" width="3" height="11" font="50">-</text> <text top="913" left="453" width="87" height="11" font="50"> </text> <text top="913" left="618" width="3" height="11" font="50">-</text> <text top="913" left="562" width="58" height="11" font="50"> </text> <text top="913" left="769" width="3" height="11" font="50">-</text> <text top="913" left="715" width="56" height="11" font="50"> </text> <text top="927" left="94" width="84" height="11" font="50">GSR(Prestea/Bogosu)</text> <text top="927" left="429" width="3" height="11" font="50">-</text> <text top="927" left="352" width="79" height="11" font="50"> </text> <text top="927" left="539" width="3" height="11" font="50">-</text> <text top="927" left="453" width="87" height="11" font="50"> </text> <text top="927" left="618" width="3" height="11" font="50">-</text> <text top="927" left="562" width="58" height="11" font="50"> </text> <text top="927" left="769" width="3" height="11" font="50">-</text> <text top="927" left="715" width="56" height="11" font="50"> </text> <text top="942" left="94" width="69" height="11" font="50">Ghana Bauxite Co.</text> <text top="942" left="429" width="3" height="11" font="50">-</text> <text top="942" left="352" width="79" height="11" font="50"> </text> <text top="942" left="539" width="3" height="11" font="50">-</text> <text top="942" left="453" width="87" height="11" font="50"> </text> <text top="942" left="618" width="3" height="11" font="50">-</text> <text top="942" left="562" width="58" height="11" font="50"> </text> <text top="942" left="769" width="3" height="11" font="50">-</text> <text top="942" left="715" width="56" height="11" font="50"> </text> <text top="956" left="94" width="78" height="11" font="50">Ghana Manganse Co.</text> <text top="956" left="238" width="32" height="11" font="50">898,369</text> <text top="956" left="210" width="29" height="11" font="50"> </text> <text top="956" left="310" width="32" height="11" font="50">898,369</text> <text top="956" left="280" width="31" height="11" font="50"> </text> <text top="956" left="429" width="3" height="11" font="50">-</text> <text top="956" left="352" width="79" height="11" font="50"> </text> <text top="956" left="539" width="3" height="11" font="50">-</text> <text top="956" left="453" width="87" height="11" font="50"> </text> <text top="956" left="618" width="3" height="11" font="50">-</text> <text top="956" left="562" width="58" height="11" font="50"> </text> <text top="956" left="769" width="3" height="11" font="50">-</text> <text top="956" left="715" width="56" height="11" font="50"> </text> <text top="971" left="94" width="73" height="11" font="50">Goldfields -Tarkwa</text> <text top="971" left="226" width="44" height="11" font="50">43,500,000</text> <text top="971" left="210" width="17" height="11" font="50"> </text> <text top="971" left="297" width="44" height="11" font="50">39,722,000</text> <text top="971" left="280" width="19" height="11" font="50"> </text> <text top="971" left="403" width="39" height="11" font="50">3,778,000</text> <text top="971" left="352" width="52" height="11" font="50"> </text> <text top="971" left="592" width="39" height="11" font="50">3,778,000</text> <text top="971" left="562" width="31" height="11" font="50"> </text> <text top="971" left="743" width="39" height="11" font="50">3,778,000</text> <text top="971" left="715" width="29" height="11" font="50"> </text> <text top="985" left="94" width="84" height="11" font="50">Abosso Goldfields Ltd</text> <text top="985" left="230" width="39" height="11" font="50">7,500,000</text> <text top="985" left="210" width="23" height="11" font="50"> </text> <text top="985" left="403" width="39" height="11" font="50">7,500,000</text> <text top="985" left="352" width="52" height="11" font="50"> </text> <text top="985" left="592" width="39" height="11" font="50">7,500,000</text> <text top="985" left="562" width="31" height="11" font="50"> </text> <text top="985" left="743" width="39" height="11" font="50">7,500,000</text> <text top="985" left="715" width="29" height="11" font="50"> </text> <text top="1000" left="94" width="44" height="11" font="50">GSR-Wassa</text> <text top="1000" left="429" width="3" height="11" font="50">-</text> <text top="1000" left="352" width="79" height="11" font="50"> </text> <text top="1000" left="539" width="3" height="11" font="50">-</text> <text top="1000" left="453" width="87" height="11" font="50"> </text> <text top="1000" left="769" width="3" height="11" font="50">-</text> <text top="1000" left="715" width="56" height="11" font="50"> </text> <text top="1014" left="94" width="91" height="11" font="50">Chirano Gold Mines Ltd</text> <text top="1014" left="429" width="3" height="11" font="50">-</text> <text top="1014" left="352" width="79" height="11" font="50"> </text> <text top="1014" left="539" width="3" height="11" font="50">-</text> <text top="1014" left="453" width="87" height="11" font="50"> </text> <text top="1014" left="769" width="3" height="11" font="50">-</text> <text top="1014" left="715" width="56" height="11" font="50"> </text> <text top="1029" left="94" width="100" height="11" font="50">Newmont Gold Ghana Ltd</text> <text top="1029" left="429" width="3" height="11" font="50">-</text> <text top="1029" left="352" width="79" height="11" font="50"> </text> <text top="1029" left="539" width="3" height="11" font="50">-</text> <text top="1029" left="453" width="87" height="11" font="50"> </text> <text top="1029" left="769" width="3" height="11" font="50">-</text> <text top="1029" left="715" width="56" height="11" font="50"> </text> <text top="1040" left="94" width="74" height="11" font="65"><b>Total(Dividends)</b></text> <text top="1040" left="213" width="57" height="11" font="50">55,291,125.74</text> <text top="1040" left="210" width="4" height="11" font="50"> </text> <text top="1040" left="297" width="44" height="11" font="50">44,012,872</text> <text top="1040" left="280" width="19" height="11" font="50"> </text> <text top="1040" left="399" width="44" height="11" font="50">11,278,254</text> <text top="1040" left="352" width="48" height="11" font="50"> </text> <text top="1040" left="539" width="4" height="11" font="65"><b>-</b></text> <text top="1040" left="453" width="87" height="11" font="65"><b> </b></text> <text top="1040" left="587" width="44" height="11" font="50">11,278,254</text> <text top="1040" left="562" width="27" height="11" font="50"> </text> <text top="1040" left="738" width="44" height="11" font="65"><b>11,278,254</b></text> <text top="1040" left="715" width="25" height="11" font="65"><b> </b></text> </page> <page number="79" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">70 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="182" left="92" width="4" height="14" font="3"> </text> <text top="204" left="92" width="198" height="15" font="11"><b>APPENDIX 6: DISBURSEMENT </b></text> <text top="916" left="768" width="4" height="14" font="3"> </text> <text top="934" left="92" width="4" height="14" font="3"> </text> <text top="956" left="92" width="4" height="14" font="3"> </text> <text top="227" left="95" width="102" height="13" font="38">APPENDIX 6A1</text> <text top="246" left="95" width="382" height="13" font="76"><b>DISBURSEMENTS FROM REGIONAL OFFICES OF OASL.</b></text> <text top="309" left="95" width="43" height="13" font="38">YEAR:</text> <text top="309" left="206" width="31" height="13" font="38">2010</text> <text top="347" left="95" width="122" height="13" font="76"><b>ASHANTI REGION</b></text> <text top="347" left="377" width="285" height="13" font="76"><b>Payment from Anglogold Ashanti-Obuasi.</b></text> <text top="386" left="698" width="35" height="13" font="76"><b>Total</b></text> <text top="405" left="95" width="38" height="13" font="76"><b>DATE</b></text> <text top="405" left="242" width="390" height="13" font="76"><b>February Payment August Payment December payment</b></text> <text top="423" left="123" width="44" height="13" font="38">Mar-09</text> <text top="442" left="125" width="42" height="13" font="38">Apr-09</text> <text top="442" left="290" width="82" height="13" font="38">3,269,050.48</text> <text top="461" left="119" width="47" height="13" font="38">May-09</text> <text top="482" left="125" width="42" height="13" font="38">Jun-09</text> <text top="501" left="129" width="37" height="13" font="38">Jul-09</text> <text top="519" left="122" width="45" height="13" font="38">Aug-09</text> <text top="538" left="122" width="45" height="13" font="38">Sep-09</text> <text top="556" left="124" width="43" height="13" font="38">Oct-09</text> <text top="556" left="285" width="82" height="13" font="38">4,158,509.28</text> <text top="556" left="246" width="43" height="13" font="38"> </text> <text top="575" left="124" width="43" height="13" font="38">Nov-09</text> <text top="594" left="122" width="45" height="13" font="38">Dec-09</text> <text top="594" left="242" width="8" height="13" font="38"> </text> <text top="613" left="125" width="42" height="13" font="38">Jan-10</text> <text top="613" left="404" width="82" height="13" font="38">4,619,763.65</text> <text top="613" left="382" width="26" height="13" font="38"> </text> <text top="632" left="123" width="44" height="13" font="38">Feb-10</text> <text top="650" left="123" width="44" height="13" font="38">Mar-10</text> <text top="669" left="125" width="42" height="13" font="38">Apr-10</text> <text top="669" left="404" width="82" height="13" font="38">4,837,702.25</text> <text top="669" left="382" width="26" height="13" font="38"> </text> <text top="687" left="119" width="47" height="13" font="38">May-10</text> <text top="706" left="125" width="42" height="13" font="38">Jun-10</text> <text top="706" left="549" width="43" height="13" font="38">5186.5</text> <text top="725" left="129" width="37" height="13" font="38">Jul-10</text> <text top="725" left="505" width="82" height="13" font="38">3,903,320.82</text> <text top="725" left="500" width="8" height="13" font="38"> </text> <text top="781" left="95" width="31" height="13" font="38">Total</text> <text top="781" left="285" width="82" height="13" font="38">7,427,559.76</text> <text top="781" left="246" width="43" height="13" font="38"> </text> <text top="781" left="404" width="82" height="13" font="38">9,457,465.90</text> <text top="781" left="382" width="26" height="13" font="38"> </text> <text top="781" left="505" width="82" height="13" font="38">3,908,507.32</text> <text top="781" left="500" width="8" height="13" font="38"> </text> <text top="818" left="95" width="109" height="13" font="38">Obuasi Municipal</text> <text top="818" left="298" width="70" height="13" font="76"><b>201,432.52</b></text> <text top="818" left="246" width="52" height="13" font="76"><b> </b></text> <text top="818" left="416" width="70" height="13" font="76"><b>256,482.79</b></text> <text top="818" left="382" width="35" height="13" font="76"><b> </b></text> <text top="818" left="517" width="70" height="13" font="38">105,998.25</text> <text top="818" left="500" width="21" height="13" font="38"> </text> <text top="818" left="689" width="70" height="13" font="38">563,913.56</text> <text top="818" left="671" width="22" height="13" font="38"> </text> <text top="836" left="95" width="86" height="13" font="38">Adansi South</text> <text top="837" left="305" width="62" height="13" font="76"><b>58,093.62</b></text> <text top="837" left="246" width="61" height="13" font="76"><b> </b></text> <text top="837" left="423" width="62" height="13" font="76"><b>73,970.25</b></text> <text top="837" left="382" width="43" height="13" font="76"><b> </b></text> <text top="837" left="525" width="62" height="13" font="76"><b>30,569.84</b></text> <text top="837" left="500" width="26" height="13" font="76"><b> </b></text> <text top="836" left="689" width="70" height="13" font="38">162,633.71</text> <text top="836" left="671" width="22" height="13" font="38"> </text> <text top="855" left="95" width="82" height="13" font="38">Adansi North</text> <text top="855" left="305" width="62" height="13" font="76"><b>28,776.07</b></text> <text top="855" left="246" width="61" height="13" font="76"><b> </b></text> <text top="855" left="423" width="62" height="13" font="76"><b>36,640.40</b></text> <text top="855" left="382" width="43" height="13" font="76"><b> </b></text> <text top="855" left="525" width="62" height="13" font="76"><b>15,142.46</b></text> <text top="855" left="500" width="26" height="13" font="76"><b> </b></text> <text top="855" left="697" width="63" height="13" font="38">80,558.93</text> <text top="855" left="671" width="26" height="13" font="38"> </text> <text top="873" left="95" width="110" height="13" font="38">Bekwai Municipal</text> <text top="874" left="305" width="62" height="13" font="76"><b>27,965.21</b></text> <text top="874" left="246" width="61" height="13" font="76"><b> </b></text> <text top="874" left="423" width="62" height="13" font="76"><b>35,607.93</b></text> <text top="874" left="382" width="43" height="13" font="76"><b> </b></text> <text top="874" left="525" width="62" height="13" font="76"><b>14,715.76</b></text> <text top="874" left="500" width="26" height="13" font="76"><b> </b></text> <text top="873" left="697" width="63" height="13" font="38">78,288.90</text> <text top="873" left="671" width="26" height="13" font="38"> </text> <text top="892" left="95" width="105" height="13" font="38">Amansie Central</text> <text top="892" left="305" width="62" height="13" font="76"><b>51,934.91</b></text> <text top="892" left="246" width="61" height="13" font="76"><b> </b></text> <text top="892" left="423" width="62" height="13" font="76"><b>66,128.40</b></text> <text top="892" left="382" width="43" height="13" font="76"><b> </b></text> <text top="892" left="525" width="62" height="13" font="76"><b>27,329.03</b></text> <text top="892" left="500" width="26" height="13" font="76"><b> </b></text> <text top="892" left="689" width="70" height="13" font="38">145,392.33</text> <text top="892" left="671" width="22" height="13" font="38"> </text> <text top="911" left="95" width="35" height="13" font="76"><b>Total</b></text> <text top="911" left="298" width="70" height="13" font="38">368,202.33</text> <text top="911" left="246" width="52" height="13" font="38"> </text> <text top="911" left="677" width="82" height="13" font="76"><b>1,030,787.43</b></text> <text top="911" left="671" width="8" height="13" font="76"><b> </b></text> </page> <page number="80" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">71 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="838" left="727" width="4" height="14" font="3"> </text> <text top="856" left="92" width="4" height="14" font="3"> </text> <text top="879" left="92" width="4" height="14" font="3"> </text> <text top="901" left="92" width="4" height="14" font="3"> </text> <text top="924" left="92" width="4" height="14" font="3"> </text> <text top="946" left="92" width="4" height="14" font="3"> </text> <text top="969" left="92" width="4" height="14" font="3"> </text> <text top="991" left="92" width="4" height="14" font="3"> </text> <text top="1014" left="92" width="4" height="14" font="3"> </text> <text top="1036" left="92" width="4" height="14" font="3"> </text> <text top="1059" left="92" width="4" height="14" font="3"> </text> <text top="1082" left="92" width="4" height="14" font="3"> </text> <text top="182" left="95" width="110" height="13" font="38">APPENDIX 6A2</text> <text top="201" left="95" width="382" height="13" font="76"><b>DISBURSEMENTS FROM REGIONAL OFFICES OF OASL.</b></text> <text top="219" left="95" width="43" height="13" font="38">YEAR:</text> <text top="219" left="240" width="31" height="13" font="38">2011</text> <text top="257" left="95" width="122" height="13" font="76"><b>ASHANTI REGION</b></text> <text top="256" left="400" width="261" height="13" font="38">Payment from Anglogold Ashanti-Obuasi.</text> < text top="312" left="95" width="37" height="13" font="38">DATE</text> <text top="312" left="276" width="100" height="13" font="38">March Payment</text> <text top="312" left="400" width="130" height="13" font="38">September Payment</text> <text top="331" left="129" width="45" height="13" font="38">Aug-10</text> <text top="331" left="400" width="139" height="13" font="38">(january to April 2011)</text> <text top="349" left="129" width="45" height="13" font="38">Sep-10</text> <text top="368" left="131" width="43" height="13" font="38">Oct-10</text> <text top="368" left="309" width="82" height="13" font="38">3,999,520.38</text> <text top="368" left="280" width="30" height="13" font="38"> </text> <text top="387" left="131" width="43" height="13" font="38">Nov-10</text> <text top="405" left="129" width="45" height="13" font="38">Dec-10</text> <text top="424" left="132" width="42" height="13" font="38">Jan-11</text> <text top="424" left="435" width="82" height="13" font="38">3,544,282.18</text> <text top="424" left="405" width="35" height="13" font="38"> </text> <text top="442" left="130" width="44" height="13" font="38">Feb-11</text> <text top="461" left="130" width="44" height="13" font="38">Mar-11</text> <text top="479" left="132" width="42" height="13" font="38">Apr-11</text> <text top="479" left="435" width="82" height="13" font="38">4,762,146.31</text> <text top="479" left="405" width="35" height="13" font="38"> </text> <text top="498" left="127" width="47" height="13" font="38">May-11</text> <text top="517" left="132" width="42" height="13" font="38">Jun-11</text> <text top="535" left="137" width="37" height="13" font="38">Jul-11</text> <text top="684" left="95" width="31" height="13" font="38">Total</text> <text top="684" left="309" width="82" height="13" font="38">3,999,520.38</text> <text top="684" left="280" width="30" height="13" font="38"> </text> <text top="684" left="435" width="82" height="13" font="38">8,306,428.49</text> <text top="684" left="405" width="35" height="13" font="38"> </text> <text top="684" left="612" width="5" height="13" font="38">-</text> <text top="684" left="532" width="83" height="13" font="38"> </text> <text top="721" left="95" width="109" height="13" font="38">Obuasi Municipal</text> <text top="721" left="320" width="70" height="13" font="38">108,466.51</text> <text top="721" left="280" width="43" height="13" font="38"> </text> <text top="721" left="447" width="70" height="13" font="38">225,269.34</text> <text top="721" left="405" width="43" height="13" font="38"> </text> <text top="721" left="612" width="5" height="13" font="38">-</text> <text top="721" left="532" width="83" height="13" font="38"> </text> <text top="721" left="699" width="5" height="13" font="38">-</text> <text top="721" left="646" width="56" height="13" font="38"> </text> <text top="740" left="95" width="86" height="13" font="38">Adansi South</text> <text top="740" left="328" width="63" height="13" font="38">30,990.12</text> <text top="740" left="280" width="52" height="13" font="38"> </text> <text top="740" left="455" width="62" height="13" font="38">64,362.03</text> <text top="740" left="405" width="52" height="13" font="38"> </text> <text top="740" left="612" width="5" height="13" font="38">-</text> <text top="740" left="532" width="83" height="13" font="38"> </text> <text top="740" left="699" width="5" height="13" font="38">-</text> <text top="740" left="646" width="56" height="13" font="38"> </text> <text top="758" left="95" width="82" height="13" font="38">Adansi North</text> <text top="758" left="328" width="63" height="13" font="38">15,495.06</text> <text top="758" left="280" width="52" height="13" font="38"> </text> <text top="758" left="455" width="62" height="13" font="38">32,181.01</text> <text top="758" left="405" width="52" height="13" font="38"> </text> <text top="758" left="612" width="5" height="13" font="38">-</text> <text top="758" left="532" width="83" height="13" font="38"> </text> <text top="758" left="699" width="5" height="13" font="38">-</text> <text top="758" left="646" width="56" height="13" font="38"> </text> <text top="777" left="95" width="110" height="13" font="38">Bekwai Municipal</text> <text top="777" left="328" width="63" height="13" font="38">15,058.43</text> <text top="777" left="280" width="52" height="13" font="38"> </text> <text top="777" left="455" width="62" height="13" font="38">31,274.20</text> <text top="777" left="405" width="52" height="13" font="38"> </text> <text top="777" left="612" width="5" height="13" font="38">-</text> <text top="777" left="532" width="83" height="13" font="38"> </text> <text top="777" left="699" width="5" height="13" font="38">-</text> <text top="777" left="646" width="56" height="13" font="38"> </text> <text top="795" left="95" width="105" height="13" font="38">Amansie Central</text> <text top="795" left="328" width="63" height="13" font="38">27,965.41</text> <text top="795" left="280" width="52" height="13" font="38"> </text> <text top="795" left="455" width="62" height="13" font="38">58,080.13</text> <text top="795" left="405" width="52" height="13" font="38"> </text> <text top="795" left="612" width="5" height="13" font="38">-</text> <text top="795" left="532" width="83" height="13" font="38"> </text> <text top="795" left="699" width="5" height="13" font="38">-</text> <text top="795" left="646" width="56" height="13" font="38"> </text> <text top="833" left="95" width="31" height="13" font="38">Total</text> <text top="833" left="320" width="70" height="13" font="76"><b>197,975.54</b></text> <text top="833" left="280" width="43" height="13" font="76"><b> </b></text> <text top="833" left="447" width="70" height="13" font="76"><b>411,166.72</b></text> <text top="833" left="405" width="43" height="13" font="76"><b> </b></text> </page> <page number="81" position="absolute" top="0" left="0" height="1263" width="892"> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">72 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="670" left="788" width="4" height="14" font="3"> </text> <text top="688" left="92" width="4" height="14" font="3"> </text> <text top="711" left="92" width="4" height="14" font="3"> </text> <text top="733" left="92" width="4" height="14" font="3"> </text> <text top="756" left="92" width="4" height="14" font="3"> </text> <text top="778" left="92" width="4" height="14" font="3"> </text> <text top="801" left="92" width="4" height="14" font="3"> </text> <text top="823" left="92" width="4" height="14" font="3"> </text> <text top="846" left="92" width="4" height="14" font="3"> </text> <text top="868" left="92" width="4" height="14" font="3"> </text> <text top="891" left="92" width="4" height="14" font="3"> </text> <text top="914" left="92" width="4" height="14" font="3"> </text> <text top="936" left="92" width="4" height="14" font="3"> </text> <text top="959" left="92" width="4" height="14" font="3"> </text> <text top="981" left="92" width="4" height="14" font="3"> </text> <text top="1004" left="92" width="4" height="14" font="3"> </text> <text top="1026" left="92" width="4" height="14" font="3"> </text> <text top="1049" left="92" width="4" height="14" font="3"> </text> <text top="1071" left="92" width="4" height="14" font="3"> </text> <text top="182" left="95" width="92" height="12" font="92"><b>APPENDIX 6B1</b></text> <text top="199" left="95" width="344" height="12" font="92"><b>DISBURSEMENTS FROM REGIONAL OFFICES OF OASL.</b></text> <text top="215" left="95" width="39" height="12" font="89">YEAR:</text> <text top="215" left="275" width="28" height="12" font="89">2010</text> <text top="232" left="307" width="27" height="12" font="92"><b>GHS</b></text> <text top="249" left="95" width="148" height="12" font="92"><b>BRONG-AHAFO REGION</b></text> <text top="249" left="427" width="356" height="12" font="92"><b>NEWMONT PAYMENT DUE ASUTIFI DISTRICT ASSEMBLY.</b></text> <text top="282" left="95" width="34" height="12" font="92"><b>DATE</b></text> <text top="282" left="188" width="209" height="12" font="92"><b>February Payment June Payment</b></text> <text top="282" left="427" width="231" height="12" font="92"><b>August Payment December Payment</b></text> <text top="282" left="721" width="31" height="12" font="92"><b>Total</b></text> <text top="300" left="535" width="148" height="11" font="93"><b>Paid to District in Jan 2011</b></text> <text top="315" left="144" width="40" height="12" font="89">Mar-09</text> <text top="332" left="146" width="38" height="12" font="89">Apr-09</text> <text top="332" left="225" width="74" height="12" font="89">5,359,095.97</text> <text top="332" left="192" width="35" height="12" font="89"> </text> <text top="349" left="141" width="43" height="12" font="89">May-09</text> <text top="366" left="146" width="38" height="12" font="89">Jun-09</text> <text top="382" left="150" width="34" height="12" font="89">Jul-09</text> <text top="399" left="143" width="41" height="12" font="89">Aug-09</text> <text top="416" left="143" width="41" height="12" font="89">Sep-09</text> <text top="433" left="145" width="39" height="12" font="89">Oct-09</text> <text top="433" left="225" width="74" height="12" font="89">5,634,886.26</text> <text top="433" left="192" width="35" height="12" font="89"> </text> <text top="449" left="145" width="39" height="12" font="89">Nov-09</text> <text top="466" left="143" width="41" height="12" font="89">Dec-09</text> <text top="483" left="146" width="38" height="12" font="89">Jan-10</text> <text top="483" left="345" width="74" height="12" font="89">4,399,276.45</text> <text top="483" left="311" width="35" height="12" font="89"> </text> <text top="483" left="452" width="74" height="12" font="89">1,841,977.00</text> <text top="483" left="431" width="23" height="12" font="89"> </text> <text top="499" left="144" width="40" height="12" font="89">Feb-10</text> <text top="516" left="144" width="40" height="12" font="89">Mar-10</text> <text top="533" left="146" width="38" height="12" font="89">Apr-10</text> <text top="533" left="452" width="74" height="12" font="89">5,534,331.89</text> <text top="533" left="431" width="23" height="12" font="89"> </text> <text top="550" left="141" width="43" height="12" font="89">May-10</text> <text top="566" left="146" width="38" height="12" font="89">Jun-10</text> <text top="583" left="150" width="34" height="12" font="89">Jul-10</text> <text top="583" left="606" width="74" height="12" font="89">6,863,431.74</text> <text top="583" left="539" width="70" height="12" font="89"> </text> <text top="617" left="95" width="31" height="12" font="92"><b>Total</b></text> <text top="617" left="218" width="81" height="12" font="92"><b>10,993,982.23</b></text> <text top="617" left="192" width="27" height="12" font="92"><b> </b></text> <text top="617" left="345" width="74" height="12" font="92"><b>4,399,276.45</b></text> <text top="617" left="311" width="35" height="12" font="92"><b> </b></text> <text top="617" left="452" width="74" height="12" font="92"><b>7,376,308.89</b></text> <text top="617" left="431" width="23" height="12" font="92"><b> </b></text> <text top="617" left="606" width="74" height="12" font="92"><b>6,863,431.74</b></text> <text top="617" left="539" width="70" height="12" font="92"><b> </b></text> <text top="667" left="95" width="76" height="12" font="92"><b>Amount Due</b></text> <text top="667" left="236" width="63" height="12" font="92"><b>544,202.12</b></text> <text top="667" left="192" width="47" height="12" font="92"><b> </b></text> <text top="667" left="356" width="63" height="12" font="92"><b>217,764.18</b></text> <text top="667" left="311" width="47" height="12" font="92"><b> </b></text> <text top="667" left="463" width="63" height="12" font="92"><b>365,127.29</b></text> <text top="667" left="431" width="35" height="12" font="92"><b> </b></text> <text top="667" left="616" width="63" height="12" font="92"><b>339,739.87</b></text> <text top="667" left="539" width="78" height="12" font="92"><b> </b></text> <text top="667" left="707" width="74" height="12" font="92"><b>1,466,833.47</b></text> <text top="667" left="692" width="15" height="12" font="92"><b> </b></text> </page> <page number="82" position="absolute" top="0" left="0" height="1263" width="892"> <fontspec id="109" size="12" family="Helvetica" color="#000000"/> <text top="107" left="92" width="673" height="15" font="15"><i>Final Report -Aggregation and Reconciliation of Mining Sector payments and receipts for 2010 &amp; 2011 </i></text> <text top="127" left="92" width="4" height="15" font="16"> </text> <text top="126" left="440" width="4" height="16" font="17"> </text> <text top="1122" left="772" width="20" height="14" font="3">73 </text> <text top="1141" left="92" width="4" height="14" font="3"> </text> <text top="162" left="92" width="700" height="14" font="3"> </text> <text top="182" left="92" width="4" height="14" font="3"> </text> <text top="672" left="750" width="4" height="14" font="3"> </text> <text top="690" left="92" width="4" height="14" font="3"> </text> <text top="713" left="92" width="4" height="14" font="3"> </text> <text top="735" left="92" width="4" height="14" font="3"> </text> <text top="758" left="92" width="4" height="14" font="3"> </text> <text top="780" left="92" width="4" height="14" font="3"> </text> <text top="803" left="92" width="4" height="14" font="3"> </text>