06 Jun 2023
DiamondWorld Directory
Home |
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
Jul 15 2021 1:16PM
Reference: 25716  


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.” 

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 34401
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 11706
GJEPC Chairman Interview
Views: 30356
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 41480
Promo for IJ Awards 2012 at NDTV Profit
Views: 58824
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 72534
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 22931
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 52330
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 55049
Member of:
Supporter of: