LIBRARY

Position Statement on Transparency of Mineral Revenues

Position statement

Download PDF

Between 2003 and 2007, ICMM produced three statements in support of the Extractive Industries Transparency Initiative (EITI). While the EITI Principles and the concept of reconciling payments by companies with receipts by governments were firmly established as of 2003, the EITI criteria and process for implementation have evolved over time.

In parallel, ICMM's own work (especially on the Resource Endowment initiative) has shaped our thinking about the important role that transparency of mineral revenues can play, in enabling the potential social, economic and institutional benefits of mining to be realized. As a result, a more inclusive lens is needed through which to view revenue transparency issues, which extends beyond the scope of EITI.

Consequently, ICMM has produced this single integrated 'Position Statement on Transparency of Mineral Revenues' that is supportive of EITI, but also considers the broader aspects of revenue transparency.

Previous (now superseded) position statements

June 2003
ICMM Statement on the Extractive Industries Transparency Initiative
ICMM members welcome the Extractive Industries Transparency Initiative promoted by the UK's Department for International Development (DFID) and are pleased to support its overall objective of greater transparency in payments made by companies and revenues received by governments for natural resource extraction.

March 2005
Position Statement on Extractive Industries Transparency Initiative
ICMM respects the rights of sovereign governments to make their own decisions regarding revenue transparency, but recognises the contribution that greater transparency can make to combating corruption and stimulating discussion on the sustainable uses of such revenues. Given the importance of revenue transparency for well-functioning economies and good governance, ICMM members will facilitate and cooperate fully with governments that adopt these principles.

October 2006
ICMM Statement on the Extractive Industries Transparency Initiative
The extractive industries can be an important engine for economic growth and social development in developing and transition countries including through the tax revenues which they generate for governments. However a lack of accountability and transparency in the way in which these revenues are managed can exacerbate poor governance and contribute to corruption, conflict and poverty. Here at the third Extractive Industries Transparency Initiative (EITI) conference in Oslo, ICMM recognizes the contribution that EITI can make to the fight against corruption, to improving governance and to the debate about how extractive revenues can be used most sustainably.


Library home

RELATED PUBLICATIONS

GRI Mining and Metals Sector Supplement
Read more
Download PDF

RELATED LINKS

SUSTAINABLE DEVELOPMENT FRAMEWORK

Principle 01:

Implement and maintain ethical business practices and sound systems of corporate governance.

Principle 10:

Implement effective and transparent engagement, communication and independently verified reporting arrangements with our stakeholders.

© International Council on Mining and Metals 2011 │Terms and Conditions │Privacy Policy