Friday 17 August
Powered by Ajaxy
Apr 24, 2018 @ 15:56

DENR to ensure that all mining companies are EITI compliant

In order to improve transparency and accountability in the mining sector, the Department of Environment and Natural Resources (DENR) said it will ensure that all mining companies, including small-scale miners, will take part in the Philippine Extractive Industries Transparency Initiative (PH-EITI).

“We will ensure strict compliance with our regulation on the participation of mining contractors in the PH-EITI, which is mandated under DENR Administrative Order (DAO) No. 2017-07,” Environment Secretary Roy A. Cimatu said.

PH-EITI is a multi-stakeholder group that pushes for the local implementation of EITI, a global standard of transparency for improving governance of natural resources, including their prudent use and the management of natural wealth for the benefit of all citizens.

It also serves as a platform to systematically report, review and assess the revenues received by the government from extractive industries through a system of bilateral disclosure.

PH-EITI recently launched its Fourth Country Report, an enhance version of the previous reports with the inclusion of large-scale non-metallic mining projects.

The latest report presents updates on developments that affect the mining, oil and gas, and coal industries in the country, and provides a broad picture of the legal framework and governance mechanisms for extractive industries.

Cimatu said that mining companies must comply with the disclosure requirements of PH-EITI, otherwise they will not be issued Ore Transport and/or Mineral Export Permit and their Environmental Compliance Certificates or ECCs will be suspended.

He also underscored the need for future PH-EITI reports to be fully comprehensive by including the small-scale mining sector which, although small in scale, comprises thousands of workers and their families.


Trending News

Recommended on sister sites

Copyright © 2018 - Latest News on Celebrities, Politikos and Businessmen that loves food!.