Newly appointed Minister of Mines and Petroleum Nargis Nehan prepares to tackle lack of development in the sector.

Speaking to Deputy Head of EITI Eddie Rich in Kabul on Wednesday, President Ashraf Ghani reflected on the importance of reforming the extractive sector in Afghanistan:

“Agriculture may be critical for stability in our country, but mining and hydrocarbons will be critical to prosperity. We need to find a way to develop the sector in a sustainable, long-term manner”.

Formalising the sector facing challenges.

The extractive sector in Madagascar contributed USD 61 million to the economy in 2014 according to the country’s recently published EITI 2014 Report. The sector accounts for 30% of total exports and 4% of GDP. The vast majority of revenue comes from the mining sector (USD 56 million) with the rest from petroleum. But it is the informal mining sector that employs the most people – up to 500 000  according to the Report.

With ten years’ experience, EITI Niger can now leverage reforms to improve the accountability of its extractives governance.

As Niger takes stock of the impact of the past decade of EITI implementation, it has the opportunity to assess whether the EITI is meeting the public’s demands for information. Rather than ever-expanding EITI Reports, there is an opportunity to open up government systems to ensure that the information most in demand is available regularly and routinely.

First EITI Report covering mining, oil and forestry highlights opportunities for improving sector governance.

Malawi published its first EITI Report for 2014/2015 in April 2017.  The mining sector in Malawi accounts for less than 1% of the country’s GDP and about 1% of government revenue, but developing the sector has become a government priority. The petroleum sector is at exploration stage.

Seeing the woods from the trees

UK EITI Report reveals a third consecutive year of loss in the sector.

The UK is the world’s 21st largest producer of oil and gas. 2015 saw a dramatic fall in the global oil price from USD 99 in 2014 to USD 52 a barrel. This meant that it was a tough year for the industry globally with investment in the sector in the UK significantly reduced.

Findings underscore need to improve tracking of revenue flows to clarify fund utilization.

Papua New Guinea’s Liquefied Natural Gas (PNG LNG) project came online in 2014, increasing government revenues and reliance on the extractive sector.  According to PNG’s EITI Report for 2014, the country saw 8% economic growth in 2014, 91% of which was attributed to the extractive industries. This growth was largely driven by the first exports from the PNG LNG project,

Colombia reaffirms its commitment to the EITI.

Thursday 9 March 2017 – Colombia’s President Juan Manuel Santos met the EITI Chair Fredrik Reinfeldt in Bogota. Speaking on his government’s commitment to the EITI, President Santos said:

“The EITI is important for us and we are keen to learn from EITI and adopt state of the art on transparency practices and good governance of the oil, gas and mining sector”.

Board agrees how to require project-by-project reporting and decides the status of seven countries.

Thursday 9 March, Bogota – The EITI Board today decided how the EITI is requiring that reporting has to be done at project level in the 51 implementing countries. With this decision, the EITI remains the leading standard for transparency in revenues.

Armenia becomes the 52nd country to implement the EITI.

The EITI Board today approved Armenia’s EITI candidature application.

Armenia is a landlocked country situated in the southern Caucasus and bounded by Azerbaijan, Georgia, Iran and Turkey. The mining sector is the fastest growing part of the Armenia’s economy. According to the Centre for Responsible Mining, the mining industry contributed just less than 5% to country’s GDP in 2013[1].