mining

Sierra Leone discloses mining revenues in first EITI report

On Thursday 25 March 2010 the President of Sierra Leone, Dr Ernest Bai Koroma, launched Sierra Leone’s first EITI report that discloses all payments made from mining companies to the government for 2006 and 2007. At the launch of the first Sierra Leone Extractive Industries Transparency Initiative (SLEITI) report, President Koroma said that “the vision for the Sierra Leone EITI is to ensure that the natural resource wealth becomes an engine for sustainable development” and that “the revenues generated are utilized for the benefit and satisfaction of all Sierra Leoneans.”

EITI implementation in Central African Republic is underway

The Central African Republic (CAR) has confirmed its determination to complete EITI Validation by November 2010, and tackle the challenges of managing an entirely informal mining sector. In bilateral meetings with the EITI International Secretariat, the President of the Republic François Bozizé, the Prime Minister Faustin-Archange Touadéra, and the Minister of State and Mines Sylvain Ndoutingaï, all reiterated their full commitment to the EITI.

Oxus Gold becomes an EITI Supporting Company

The gold mining company Oxus Gold is the 39th extractive company to become an international-level EITI Supporting Company. The primary operations of Oxus Gold are inside Uzbekistan, where it has a 50% stake in the Amantaytau Goldfields JV (AGF) which is located in the Kyzylkum region of Uzbekistan. Total AGF ‘Proven and Probable’ reserves were 2,839,000 ozs of gold and 6,739,000 ozs of silver (of which half are attributable to Oxus), under JORC classification.