Australia to pilot the EITI
Australian Foreign Minister, Kevin Rudd, and Resources Minister, Martin Ferguson, announced on 27 October that the country will implement an EITI pilot.
The EITI standard requires publication of company payments and government revenues from mining, oil and gas production. Commencing on 1 July 2012, the pilot will be overseen by a steering committee of federal and state government representatives, industry and non-government organisations.
EITI Chair Clare Short, speaking from the meeting of the international EITI Board on Bangka Island in Indonesia said:
"Australia's decision to pilot the EITI is very welcome. Australia has been a strong supporter of the EITI since its inception. Australia is now taking further steps to practice what they preach. We are confident that the EITI will prove be a valuable platform for collaboration between government, industry and civil society. In light of the on-going debate regarding the mining sector’s contribution to the Australian economy, I am confident that greater transparency through the EITI will contribute towards an informed debate.
The decision to implement an EITI pilot demonstrates regional leadership and sets an example for other resource rich countries”.
“Given Australia’s very significant mining sector, we hope this decision will encourage other countries to adopt EITI,” said Foreign Minister Rudd at the announcement of Australia's EITI pilot.
Australia also reaffirmed its substantial support to international EITI advocacy, including a funding commitment of US$12.7 million as part of a broader Mining for Development Initiative announced by Prime Minister Julia Gillard.