This Report provides an overview of the payments to 
governments made by Avocet Mining PLC and its 
subsidiaries for the year ended 31 December 2015 as 
required under the UK Reports on Payments to 
Governments Regulation 2014 and its amendment in 
December 2015 (the UK Regulations). This Report is 
also intended to satisfy the requirements of the 
Disclosure and Transparency Rules of the Financial 
Conduct Authority in the United Kingdom.

In accordance with the UK Regulations, this Report 
includes payments to government made by Avocet Mining 
PLC and its subsidiary undertakings ("Avocet" or "the 
Group").

This information is substantially a reproduction of 
information set out on pages 20-21 of the 2015 Annual 
Report. 

Payments made by Avocet to governments arising from 
mining and exploration activities are disclosed in 
this Report.  

Payments included in the report include corporation 
tax on profits, fuel tax, land tax, permit taxes on 
exploration and mining permits, and royalties on sales 
of gold and silver. 

A number of other important indirect taxes are 
excluded from this report, including withholding 
taxes, VAT, and payroll taxes. Further details of 
these payments can be found in the 2015 Annual Report. 

The governments to whom payments listed in this report 
have been made are those of the Republic of Burkina 
Faso, and the Republic of Guinea. 
 
Avocet has two relevant projects: the Inata/Bélahouro 
project in Burkina Faso (which includes the Souma 
deposit), and the Tri-K project in Guinea. All costs 
under Burkina Faso are in respect of the 
Inata/Bélahouro project, while those shown under 
Guinea are exclusively related to the Tri-K project. 

Payments disclosed in this report are shown in US 
Dollars. Actual payments have been made in West 
African CFA for Burkina Faso and Guinea Francs for 
Guinea, however have been translated at average 
monthly rates. 

For further information see the appendix at 
[http://www.newsweb.no].