Today, the London Metal Exchange (LME), the world’s largest market for minerals, launched a formal consultation on the proposed rules for responsible mineral sourcing that will be applicable to all LME-listed companies. The proposed rules draw on the EITI reporting requirements and the OECD due diligence guidelines.
Efforts to bring transparency to the commodity trading sector were given new momentum last month in Switzerland, the global centre for commodity traders. EITI Chair Fredrik Reinfeldt addressed traders at the FT Commodities Summit in Lausanne. This was followed by a meeting with EITI stakeholders and trading companies to address how the EITI Standard can support their efforts to be more transparent when purchasing natural resources.
Winners will be invited to attend the EITI Global Conference in June
In the lead-up to the EITI Global Conference to be held in Paris on 18 – 19 June, the International Secretariat has launched three competitions with the theme “Open Data, Build Trust,” inviting stakeholders and members of the public to demonstrate the impact of EITI implementation in their country.
Having met all the requirements of the EITI Standard, country seeks to entrench transparency in government and company systems.
Nigeria’s pioneering use of multi-stakeholder governance to disclose data on its upstream extractives value chain was recognised today by the EITI Board. It became the first Anglophone African country to have made satisfactory progress in implementing all the requirements of the EITI Standard.
EITI Board assesses implementation in eight countries
The EITI Board assessed the status of eight implementing countries, including Ethiopia Ghana Guinea Malawi Mauritania Nigeria Norway and Trinidad and Tobago at its meeting in Kyiv on 27-28 February. The Board agreed that Nigeria and Norway had achieved satisfactory progress overall in implementing the EITI Standard. In the other cases,
Government to use EITI to promote transparent and accountable management of oil, gas and mineral resources
The EITI Board today approved Argentina’s application to join the Extractive Industries Transparency Initiative (EITI) at its meeting in Kyiv, Ukraine. Argentina, the third-largest economy in Latin America, becomes the EITI’s 52nd member country.
Country sees joining the EITI as an opportunity to create lasting value from its petroleum resources
The Ugandan cabinet has agreed to give the government the go-ahead to apply to join the Extractive Industries Transparency Initiative (EITI). The decision is part of the country’s ongoing efforts to strengthen accountability in the management of its natural resources and attract investors to develop its oil, gas and mining reserves.
EITI Board to assess proposed changes to the global standard for the good governance of oil, gas and mineral resources on 27-28 February
To date, 38 of the EITI’s 51 members have completed the Validation process, which is the assessment of a country’s performance against the requirements of the 2016 EITI Standard. The process has revealed the need for greater clarity on certain requirements,
After two years of rapid progress by the Armenia EITI Multi-Stakeholder Group (MSG) and national secretariat, the country’s inaugural EITI Report was launched in Yerevan on 30 January. The report is the first comprehensive review of the Armenian mining sector, providing the public with insight into the revenues generated by the country’s extractives sector, as well as information on production volumes, jobs and social spending generated,
The Extractive Industries Transparency Initiative’s (EITI) Board today announced that former Prime Minister of New Zealand Helen Clark is confirmed as the nominee to chair the EITI.
The former Prime Minister will assume her position following the EITI’s Members’ Meeting , to be held on 17 June in Paris. Helen Clark will be replacing former Swedish Prime Minister Fredrik Reinfeldt who has served as chair since February 2016.