Chile confirms its intention to join the EITI
Government affirms its commitment to start the process of adhering to implement the global standard for transparency of oil, gas and mineral resources
The Government of Chile has confirmed its intention to become an EITI implementing country. In a letter to EITI Executive Director Mark Robinson, Chile’s Minister of Mining, Marcela Hernando, stated that Chile’s intention to implement the EITI will form part of the country’s National Lithium Strategy, launched in April by President Gabriel Boric.
“The commitment from the Government of Chile to join the EITI is timely,” said EITI Board Chair Rt Hon. Helen Clark. “The mining sector has been a mainstay of the country’s economy and is anticipated to increase in importance through the energy transition. By seeking to achieve greater transparency and dialogue on natural resource management, stakeholders in the sector have demonstrated their intent to ensure that citizens benefit from Chile’s resource endowment.”
In February, Helen Clark met with top government officials in Santiago, including with Minister Hernando, the Minister of Finance, Mario Marcel, and the subsecretary of Mining, Willy Kracht. During the meeting, Helen Clark affirmed that EITI implementation in Chile would be particularly relevant as the country sees increasing investment in its mineral sector.
Chile is an important producer of copper, lithium and molybdenum and its reserves of these minerals are among the largest in the world. Demand for copper and lithium is expected to grow, given their importance for non-conventional renewable energy technologies. Implementing the EITI’s reporting framework and multi-stakeholder platform could enable Chile to strengthen public oversight across its mineral value chain, from licensing and contracts to how revenues are collected, managed and distributed.
In its annual public report published last month, the Ministry of Mining highlighted progress made toward submitting an EITI candidature application, including the designation of Subsecretary Willy Kracht as EITI Champion. The annual report emphasised that the EITI is expected to be a tool to improve public access to information about the sector. Earlier this year, Chile’s Chamber of Deputies passed a resolution urging the government to adhere to the EITI Standard.
The government is expected to reaffirm this commitment to join the EITI at the ninth EITI Global Conference, taking place in Dakar next week. The conference provides a platform for global stakeholders to exchange knowledge and best practices in promoting transparency and accountability in the extractive industries sector.
