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Mining transparency rules drive trillions in extractive-sector revenue
The Extractive Industries Transparency Initiative says its framework covers 56 countries and disclosures of $3.6 trillion in revenue since 2003.
Mining transparency requirements are increasingly tied to major government take, with a new global review finding that the Extractive Industries Transparency Initiative has helped drive disclosures of $3.6 trillion in extractive-sector revenue since it was established in 2003, according to Mining.com.
The initiative’s reporting framework covers 56 countries and about 3,900 entities, and the review says the impact is moving beyond publishing mining payment figures into decisions covering ownership, licensing, taxation, and major project agreements.
EITI data, the review adds, can help governments flag suspect license applications, scrutinize transactions that may be undervalued, and forecast revenue from major mining developments.
The report also highlights that the shift is gaining importance as competition for critical minerals such as copper, lithium, and nickel accelerates, putting pressure on resource-rich governments to balance investment attraction with capturing adequate public revenue and ensuring communities benefit.
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