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Gemfields assembles ‘The G-Factor for Natural Resources’
Gemfields invites collaboration, input and support from governance bodies, mining organisations, industry observers and host governments in adopting the ‘G-Factor for Natural Resources’, a new measure promoting greater transparency regarding the level of natural resource wealth shared with the governments of host countries
By: Diamond World News Service
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Jul 15 2021 1:16PM
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Reference: 25716  

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The G-Factor for Natural Resources is intended to be an uncomplicated indicator of the percentage of a natural resource company’s revenue that is paid to the host country government in primary and direct taxes, plus - where the host government is a shareholder - dividends. As such, it is an indicator of the share of naturalresource wealth paid to a host country’sgovernment. 

The G-Factor for Natural Resources would typically be calculated by each standalone company engagedprimarily in the extraction and sale of natural resources, whether in the mining, oil, gas, timber or fishing sectors. Accordingly, multi-national natural resource companies would publish the G-Factor for Natural Resources for each operating subsidiary engaged primarily in the extraction and sale of natural resources. 

The G-Factor for Natural Resources takes its name from the “g’s” in “government”, “governance” and “good practice”, with a passingnod to “Gemfields”. 

Sean Gilbertson, Gemfields’CEO, commented: “In an era witnessing significant strides in transparency and governance, and where extensive reporting on so many facetsof corporate activityis already requiredin the annual reports of public companies,it is surprising that practicalparameters allowing more direct insight into, and comparison of, the sharing of natural resource wealth still elude us. We invite collaboration, inputand support for the adoption of the ‘G-Factor for Natural Resources’ as a step forward. We hope it will be voluntarily adopted by other companies, insisted upon by hostcountries and incorporated into projects such as EITI.” 

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