UK EITI Mining and Quarrying subgroup meeting note, 11th April 2024
UK EITI Mining & Quarrying Subgroup meeting, Thursday 11th April 2024
Attendees
John Bowater Aurelie Delannoy Mike Earp
Leo Kellaway Mike Nash (Chair) Hedi Zaghouani
Updates from meeting on 5th March
- Need to consider new producers and looking for data sources, including BGS to look at any new companies are in-scope. (Not actioned yet, but on the CMA side many of those organisations are still in exploration phase, so some way (years) off being in scope.
- Under 3.1b there is a lack of national data on mineral reserves/resources. Companies will know their reserves/resources but will be reluctant to disclose them. (Action: Pat has done some initial research into this, buts it a bit haphazard. For example, companies listed publicly need to have published reserve/resource statements. As an example, ICL (as in ICL Boulby) is registered overseas rather than the UK. This would need to be a collation on a mine by mine (in scope) basis. It was agreed that this initial research was valuable, but agreed that companies would ultimately be reluctant to disclose and other avenues need to be considered).
For 3.2a - Implementing countries are required to disclose timely production data, including production volumes and values by commodity. MPA can provide some data. (Not actioned yet. Aurelie to provide link/text).
UK Mining & Quarrying companies in-scope
BDO shared a list of mining and quarrying companies that were invited to participate in the first EITI reporting process in 2014. A number of companies on the original list did not take part in the process or have not participated since.
It was agreed to remove the coal companies as coal is no longer within scope of UK EITI and companies where the majority of their work is non-extractive related.
It was agreed that some initial research should be carried out to look at the annual report and accounts of each company to see how much Corporation Tax (CT) each of the companies has paid before circulating to the subgroup for further comment and decision. (Action: BDO to check accounts of each company remaining on the list).
- Once a target list has been identified HMRC can be approached to give a total of CT paid in 2023 for the combined group of companies, followed by discussions on next steps. (Action: M&Q subgroup and BDO).