Community
Rainbow is committed to ethical and responsible mining practices and structures its projects in a way that aims to generate value for each of its stakeholders.
Contributing to its local countries of operation is integral to this via the provision of employment opportunities, local community investment and corporate social responsibility initiatives, the support of local supply chains, and the payment of taxes and royalties.
Phalaborwa will create numerous employment opportunities over its life, with priority being given to the local workforce. The Group will also work closely with local contractors and suppliers to build long-term supply chain solutions from the local area, contributing to socio-economic development.
We are aware that effective stakeholder engagement will be fundamental to the long-term success of Phalaborwa and are focused on building mutual trust and respect with our local communities and integrating stakeholder considerations into project development decisions to create long-term value for all our stakeholders.
As part of the Environmental and Social Impact Assessment process, we will be commencing stakeholder consultations in FY 2024. The Group has a Whistleblowing Policy which can be used by local communities to raise any concerns ahead of the development of a specific grievance mechanism for Phalaborwa which will be developed at this time.
As we progress towards on-site trial processing at Phalaborwa, we look forward to engaging the community around that project site, ensuring we bring benefits wherever possible to our host communities. For further information on our approach, see our 2023 Sustainability Report.
Government Payments
Rainbow is committed to full payment of tax and fiscal obligations wherever we operate, thereby supporting our social licence to operate, and ensuring a fair contribution to local economies. The table below sets out the key payments to the government, arising as a result of Rainbow’s activity, including direct taxes (such as land taxes, duties etc) and indirect taxes (such as payroll taxes, withholding tax, and net VAT paid).
| FY 2023 | FY 2022 | ||||||
| US$’000 | UK | Burundi | Total | UK | Burundi | Total | |
| Royalties | – | – | – | – | – | – | |
| Permit and land taxes | – | – | – | – | – | – | |
| Corporation tax | – | – | – | – | 2 | 2 | |
| Total tax borne | – | – | – | – | 2 | 2 | |
| Payroll tax | 139 | 20 | 159 | 44 | 78 | 122 | |
| Net VAT | 133 | 3 | 136 | (21) | (4) | (26) | |
| Total net payments to government | 272 | 23 | 295 | 22 | 76 | 22 | |