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Mongolia achieves EITI Compliant status

DAR-ES-SALAAM, 19 OCTOBER 2010.  Mongolia has achieved Compliance with the Extractive Industries Transparency Initiative (EITI), the global standard for improved transparency in the oil, gas and mining sectors. The EITI Board designated Mongolia as 'EITI Compliant' at a meeting today in Dar-es-Salaam, Tanzania.

EITI Chair Peter Eigen congratulated the government, industry and civil society organisations that have supported to the process in Mongolia:

“Since committing to the EITI in 2005, Mongolia has published payments from its extractive sector in three excellent EITI Reports. As the process has evolved and matured, these reports have come to provide a reliable and comprehensive account of extractive companies payments to government, and of government’s receipt of those funds. This allows all stakeholders in Mongolia to monitor one of the most important sources of government revenue, and to monitor an Industry that is transforming Mongolia’s economy. EITI Compliance has been achieved through ongoing collaboration between government, industry and civil society organisations – and I warmly congratulate all the stakeholders involved in achieving this milestone”.

In order to achieve Compliant status, countries must complete a rigorous, independent assessment of their disclosure and reporting practices. Mongolia and Ghana became the fourth and fifth countries to achieve EITI Compliance, joining Azerbaijan, Liberia and Timor-Leste.

For further information about EITI implementation in Mongolia, contact Regional Director Sam Bartlett at the EITI International Secretariat.

Media enquiries, requests for interviews, can be addressed to Communications Manager Anders Tunold Kråkenes at the EITI International Secretariat.