Chief Executive Officer of the Ghana Chamber of Mines Dr. Toni
Aubynn says the Extractive Industries Transparency Initiative (EITI) must stay
focused on its main objective -- ensuring transparency in receipts and payments
-- and resist the “temptation” of venturing into other aspects of mining.
“We would like to caution EITI against going down the slippery slope
of temptation to venture into anything and everything mining. EITI is about
transparency and payment and receipts,” he said.
Dr. Aubynn, addressing a stakeholder meeting with players of the
extractives sector and a delegation from the international EITI body, said
while it would be appropriate for the EITI to provide support for a
cost-benefit analysis to be conducted on mining in the country, it should not
deviate from its core mandate.
According to Dr. Aubynn,
critics of the EITI reports have argued for a complete balance sheet on the
mining industry as well as made calls for the computation of environmental and
social effects of mining -- a call which when heeded by the EITI could be
dangerous.
The EITI delegation comprised some board-members who are in the country
for a two-day working visit and will be meeting some stakeholders in the
extractives sector, as well as holding meetings with relevant government
agencies.
Launched in 2003, the EITI is an international standard that ensures
transparency around countries’ oil, gas and mineral resources. The EITI Standard
provides the requirements and guidance on how to report activity in the oil,
gas and mining sectors and ensures that this information is available to the
public. The Standard also covers areas such as licence transparency, transit
and state oil sales.
The CEO of the Mines Chamber expressed concerns over the manner in
which fiscal receipts from the mining industry are channelled through the
annual budgets largely for consumption. “It is our humble view that given that
these revenues flows from a finite source, it is prudent that the state sets aside
a portion for a rainy day,” he said.
The mining industry has over the years made a case for the
establishment of a Minerals Revenue Management Framework that ensures mineral
revenues are managed along the lines of provisions in the Petroleum Revenue
Management Act (Act 815).
“It is our considered opinion that such legislation will enhance
transparency in the management of mineral revenue for the benefit of the people
of Ghana and generations yet unborn,” he added.
Chief Director and Chair of the Ghana Extractive Industries
Transparency Initiative (GHEITI), Major M.S. Tara, said although the country
may have challenges in achieving the kind of transparency and accountability seen
in advanced economies, Ghana has come a long way through the initiative and
other legislations enacted to protect the taxpayer.
“We still have a lot to do, and I wish to assure all our
stakeholders that we will not relent in our efforts at achieving greater levels
of accountability and transparency in the management of our extractives than we
have today,” he said.
Maj. Tara said the GHEITI has readied itself for the additional
responsibility imposed on it by the new EITI Standard approved at the Sydney
Conference in May 2013.
“While we work toward ensuring that our next EITI report meets new
requirements, we are also working hard to create a separate legislation for
EITI in Ghana,” he added.
source:B&FT
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