EXHIBIT 99.2
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Extractive Sector Transparency Measures Act - Annual Report |
Reporting Year | From: | 1/1/2022 | To: | 12/31/2022 |
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Reporting Entity Name | Eldorado Gold Corporation | Currency of the Report | USD |
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Reporting Entity ESTMA Identification Number | E919377 |
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Subsidiary Reporting Entities (if necessary) | Eldorado Gold (Quebec) Inc (ID: E558445) |
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Payments by Payee | |||||||||||
Country | Payee Name1 | Departments, Agency, etc… within Payee that Received Payments2 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid to Payee | Notes34 |
Turkey | Federal Government of the Republic of Turkey |
| 30,610,000 | 16,670,000 | 11,920,000 |
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| 59,200,000 | Payments to Canakkale Tax Office, Ministry of Justice, Yegenbey Tax Office, Inheritance Tax Office, Turkish Bar Association, Turkish Patent Institute, Ankara Ihtisas Tax Office, Ankara Kurumlar Tax Office, Ankara Notary, Hayriye Ozcelik Ankara 9th Notary, Energy Market Regulatory Authority, ESME Land Registry, Esme Tax Office, Ulubey Land Registry Office, General Directorate of Mining and Oil Affairs, Ministry of Environment, Ministry of Transport and Infrastructure, Regional Directorate of Forestry, Baskent Tax Office, and Ulubey Tax Office. Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 16.58. See note 1 below. |
Turkey | Menderes Municipal Government |
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| 150,000 |
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| 150,000 | Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 16.58. |
Canada | Government of Quebec |
| 21,070,000 |
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| 21,070,000 | Payments to Revenu Quebec, Commission scolaire Western Quebecs and Ministre des finances du Québec. Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.30 |
Canada | Centre Service Scolaire de l'Or et des Bois |
| 30,000 |
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| 30,000 | Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.30 |
Canada | Municipality of Val-d'Or |
| 490,000 |
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| 490,000 | Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.30 |
Greece | Federal Government of Greece |
| 310,000 | 140,000 |
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| 450,000 | Payments made in EUR, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 0.95. |
Romania | Certej Municipal Government |
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| 140,000 |
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| 140,000 | Payments made in RON, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 4.6. |
Romania | Federal Government of Romania |
| 260,000 |
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| 260,000 | Payments to the Ministry of Public Finance, and National Agency for Mineral Resources. Payments made in RON, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 4.6. |
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Additional Notes: | 1. Taxes of $69,950,000 were remitted to the Federal Government of the Republic of Turkey of which $30,610,000 was paid in cash after applying refunds of sales taxes previously paid. | ||||||||||
2 |
Extractive Sector Transparency Measures Act - Annual Report |
Reporting Year | From: | 1/1/2022 | To: | 12/31/2022 |
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Reporting Entity Name | Eldorado Gold Corporation | Currency of the Report | USD |
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Reporting Entity ESTMA Identification Number | E919377 |
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Subsidiary Reporting Entities (if necessary) | Eldorado Gold (Quebec) Inc (ID: E558445) |
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Payments by Project | ||||||||||
Country | Project Name1 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid by Project | Notes23 |
Turkey | Kisladag | 50,000 | 10,430,000 | 6,780,000 |
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| 17,260,000 | Note 1 |
Turkey | Efemcukuru | - | 6,390,000 | 1,290,000 |
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| 7,680,000 | Note 1 |
Turkey | Ankara Office | 30,560,000 | - | 3,850,000 |
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| 34,410,000 | Note 1 |
Canada | Lamaque Operations | 21,590,000 |
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| 21,590,000 | Note 2 |
Greece | Olympias |
| 10,000 |
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| 10,000 | Note 3 |
Greece | Stratoni |
| 50,000 |
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| 50,000 | Note 3 |
Greece | Skouries |
| 60,000 |
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| 60,000 | Note 3 |
Greece | Perama Hill | 10,000 | 20,000 |
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| 30,000 | Note 3 |
Greece | Sappes | 10,000 |
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| 10,000 | Note 3 |
Greece | Kassandra Mines | 290,000 |
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| 290,000 | Note 3 |
Romania | Certej | 260,000 |
| 140,000 |
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| 400,000 | Note 4 |
Additional Notes3: | 1. Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 16.58 2. Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.30. 3. Payments made in EUR, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 0.95. 4. Payments made in RON, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 4.6. | |||||||||
3 |
Reporting Principles
1. Basis of Accounting
The Schedule of Payments by Payee and the Schedule of Payments by Project (collectively, the “Schedules”) prepared by Eldorado Gold Corporation (the “Company”) for the year ended December 31, 2022 has been prepared in accordance with the financial reporting provisions in Section 9 of the Extractive Sector Transparency Measures Act, Section 2.3 of the Extractive Sector Transparency Measures Act – Technical Reporting Specifications and Section 3 of the Extractor Sector Transparency Measures Act – Guidance Version 2 (collectively the “financial reporting framework”).
The Schedules are prepared to provide information to the Board of Directors of Eldorado Gold Corporation and the Minister of Natural Resources Canada to assist in meeting the requirements of the Extractive Sector Transparency Measures Act. As a result, the Schedules may not be suitable for another purpose.
2. Basis of Presentation
The Schedules have been prepared using the cash basis of accounting, as required by the financial reporting framework, and therefore exclude any accruals related to payments due to governments.
The Schedules include all cash payments made, without inclusion of cash inflows from a government. Where the Company makes a payment to a government that is net of credits from that government, the net payment amount has been presented.
3. Reporting Currency
All payments are reported in U.S. dollars which is the reporting currency of the Company. When the Company has made payments in currencies other than its reporting currency, it translates the payments using the exchange rate on the date of the individual payment.
4. Rounding
All figures have been rounded to the nearest $10,000 U.S. dollars.
5. Control
As required by the financial reporting framework, the Company has reported payments made by entities controlled by the Company. The Company has determined whether it controls an entity in accordance with International Financial Reporting Standards.
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