Economic Performance

Our economic value and the distributions from our Timok Project (as defined by the Global Reporting Initiative) are illustrated in the following table.

For purposes of the table, economic value approximates cash value.

Total Economic Value Generated
Operating and administrative expenses (including salaries), capital expenditures, $11,023
Payroll taxes and other government remittances paid $721
Dividends paid to Nevsun shareholders
Total Economic Value Distributed $11,744
Net Economic Value Retained $11,744

Payments to Governments

In support of financial transparency and accountability, Nevsun has voluntarily committed to disclosing payments made to governments. This disclosure is aligned with “Publish What You Pay” initiatives that call on companies to disclose their payments to governments, such as the Extractive Industry Transparency Index (EITI) and proposed legislation in the U.S. and Canada.

Payments to governments and government-owned entities from 2011 to 2016 are shown included in the chart below:

Forms of taxation
2016
Payroll taxes $465
Withholding taxes, customs and duties $256
Total Payments to Government $721