Social expenditure

Social expenditure

Specific payments should also be made to specific communities by the mining companies, RGM and NS based on their agreements. These are the following:

  • Annual funds for projects for civil society
  • Training fees

Reported social expenditure, exclusive of SHMR contribution, in 2017 were:

Table 5.17 Reported social expenditure of RGM, NS and Grassalco in 2017

Table 5.17 Reported social expenditure of RGM, NS and Grassalco in 2017

The expenditures by these companies vary from development program/activities to communities of the operations, infrastructure and corporate donations, donations towards healthcare and training, small mining trainings without mercury etc.

The amount of USD 1,784 thousand reported by RGM consists of:

  • expenditures based on the corporate social responsibility amounting to USD 824 thousand and;
  • payments in-kind based on amendment 1, 2003, amounting to USD 960 thousand. The payment-in kind by RGM is 2.25% of the monthly production of which 0.25% must be paid to SEMiF. The receipt of these payments in-kind for 2017, gold 760 Oz /USD 960 thousand and silver 28 Oz/USD 1 thousand, are reported in the SEMiF Annual Statement 2017.

SHMR reported additionally the voluntary contribution as a group towards the community of SRD 186 thousand in 2017 and to infrastructure projects for approximately SRD 214 thousand.

No details were provided to express an opinion or disclosure about these financial data and therefore these expenditures are not included in the overview above but mentioned as a narrative.

2020-02-12T00:32:30-03:00Thursday 6 February 2020|EITI Suriname Report 2017|