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Honduras Honduras

EITI Status

EITI Status: 
Candidate country

Candidate since

Candidate since: 
22 May 2013

Extractive Industries

Honduras's extractive sector is small. In 2013 it accounted for 0.9% of GDP (Central Bank of Honduras). However, there has been a increased interest in expanding the sector. 

The Honduran mining sector is organised in two groups: metallic and non-metallic (quarries) minerals. During 2011, the tax collector (Direccion Ejecutiva de Ingresos) and the Executive Direction of Mining Development (DEFOMIN) reported total receipts from the mining sector of approximately USD 17 million. Income tax represents 96% of this total. 

DEFOMIN also informs that 98 exploitation licenses for metallic minerals and 161 exploitation licenses for non-metallic minerals have been awarded. It was further reported that 21 companies exploited non-ferrous minerals and quarries and five mining companies exploited metals (gold, silver, iron oxide, zinc and lead). Production of these metals in 2012 was: 278 troy ounces of gold, 1.33 million metric tons of iron oxide, 36 million pounds of zinc, 6 million pounds of lead, and 1.4 troy ounces of silver. 2012’s exports amounted to about USD 1 million.

Concerning oil and gas, the government awarded a license to BG Group directly for hydrocarbon exploration in an area of approximately 300 million km2 in the Mosquitia province in the east of the country by the Caribbean Sea in April 2013.

EITI Reporting

The country produces EITI Reports that disclose revenues from the extraction of its natural resources. Companies disclose what they have paid in taxes and other payments and the government discloses what it has received. These two sets of figures are compared and reconciled.

EITI Implementation

Honduras produced the country's first EITI Report for fiscal years 2012 and 2013. In accordance with the EITI Standard, Honduras concilates payments done by 6 metallic mining companies with the receipts collected by central government and municipalities. The Report also includes a confirmation of the payment of US$ 300 000 made by BG International Limited, Sucursal Honduras for the concept of canon with the receipts of the Secretary of Natural Resources and Environment (SERNA).

Honduras became candidate on 22 May 2013. See Honduras' candidature application for more details. Following the transitions arrangements approved by the EITI Board on 21 August 2013, Honduras has a validation deadline on 1st Juy 2016.  

Timeline of Honduras' implementation (click on image to enlarge):

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Innovations

  • Honduras completed a report on beneficial ownership disclosures in October 2015. The report reveals the beneficial owners from companies that voluntarily agreed to have these details published. The report includes disclosure on legal ownership of companies which parent companies are publicly listed. The report included a legal review concluding that Honduran legal framework does not require the identification of beneficial owners and does not allow mandatory declaration of personal information.

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National Coordinator

Honduras
EITI-Honduras
+504 2290 5160

International Secretariat

Honduras
Country Officer
EITI International Secretariat
Honduras
Regional Director for Latin America and Caribbean
EITI International Secretariat
+47 216 85 393

Facts & Figures

Latest Eiti Report: 2013 Report
Deadline for next Eiti report: Saturday, 31 December 2016
Number of fiscal years published: 2

Honduras News

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