sharing in governance of extractive industries
HARARE — All foreign-owned mining companies in Zimbabwe must sell majority stakes to locals within six months, under new rules released Monday that clouded the nation's drive for foreign investment.
The new rules marked the latest attempt by long-ruling President Robert Mugabe to squeeze cash out of the mining industry, after last month hiking exploration fees by 2,000 percent to one million dollars.
The controversial Indigenisation and Economic Empowerment Act issued…Continue
Added by Kasita Ibrahim Emolu on March 31, 2011 at 7:21 — No Comments
Added by Kasita Ibrahim Emolu on March 31, 2011 at 7:18 — No Comments
A new report that outlines how to develop a regional certification mechanism for tracking high value and conflict prone minerals in Africa's Great Lakes region was launched today by Partnership Africa Canada.
Taming the Resource Curse: Implementing the ICGLR Certification Mechanism for Conflict-prone Minerals analyses the strengths and weaknesses of existing certification mechanisms, especially the Kimberley Process (KP), and applies lessons learned to four…Continue
Added by Ousmane Deme on March 25, 2011 at 20:13 — No Comments
(IDEX Online News) - In a reaction to Kimberley Process (KP) Chairman Mathieu Yamba’s statement allowing the export of rough diamonds from Zimbabwe’s Marange fields, the World Diamond Council (WDC) issued a statement asking members of the international diamond community to refrain from trading in a nd exporting goods from the region until the situation and the status of these goods becomes clearer.
Added by GOXI on March 25, 2011 at 15:41 — No Comments
JOHANNESBURG – Mining companies say they accept the thrust of new US Securities and Exchange (SEC) regulations that will require them to disclose payments to foreign governments.
Executives speaking at the Reuters Mining and Steel Summit said enhanced transparency could help clean up the image of an industry with a shabby reputation.
"The greater the transparency the better it is for our company, the better it is for our industry, and so we're very supportive of…Continue
Added by GOXI on March 25, 2011 at 15:39 — No Comments
By James Grubel
CANBERRA, March 24 (Reuters) - Australia's booming mining companies have won a major concession over a plan to tax their profits, potentially saving them hundreds of millions of dollars and helping cool industry opposition to the tax.
In a widely expected decision, Treasurer Wayne Swan said on Thursday the national government would repay current royalties the miners pay to state governments, and refund any future…Continue
Added by GOXI on March 25, 2011 at 15:00 — No Comments
Independent panel slams Inter-American Development Bank
(From Oxfam America's new policy blog - www.politicsofpoverty.org)This blog post is written by Emily Greenspan, Oxfam America Extractive Industries Policy Advisor.
As the largest source of development financing for countries in Latin America and the Caribbean, the Inter-American Development Bank (IDB)…Continue
Added by Ian Gary on March 24, 2011 at 17:03 — No Comments
The global mining industry is seeking to insert itself into post-conflict, economically-strapped El Salvador. While in El Salvador this week, President Obama should state publicly that the US respects the right of local communities to decide if mining should take place.By Keith Slack, Extractive Industries Campaign Manager.
On Tuesday, President Obama travels to El Salvador. It’s the first time a US president has been to the country since George W. Bush went in 2002. The two…Continue
Added by Ian Gary on March 24, 2011 at 16:58 — No Comments
Added by Ryan Winger on March 23, 2011 at 16:15 — No Comments
Consultant - Extractive Industries
Oxford Policy Management (OPM) is a leading specialist consultancy in the field of international development, with a thriving practice in the fields of economic development, social policy, public administration and public expenditure management in many parts of the developing world.
OPM has many years of experience in providing policy advice on managing extractive industries for host country governments, private clients, and…Continue
Added by Mark Essex on March 17, 2011 at 18:42 — No Comments
Some notes on the experience of Newmont Ghana in EITI
from the EITI Global Conference, Paris, 2-4 March 2011
Executive Sessions: Sharing Experiences with EITI Implementation:
- A Place at the Table: Civil Society Experiences in the EITI…Continue
There were surprise fireworks at the recent Extractive Industry Transparency Initiative (EITI) 5th Global Conference in Paris—fireworks that could have far-reaching implications for the movement to root out corruption associated with huge oil, gas and mining contracts. The EITI, you may recall, is a coalition of governments, companies, civil society groups, investors, and international organizations that supports improved governance in resource-rich countries…Continue
Added by Kasita Ibrahim Emolu on March 16, 2011 at 9:15 — No Comments
The Zimbabwe Environmental Law Association (ZELA) has released a handbook which should be of interest to persons following extractive industries issues in Zimbabwe and to agencies much further afield. Entitled, Extractive Industries Policy and Legal Handbook: analysis of the key issues in Zimbabwe"s mining sector, it is available on the ZELA website and, here, on …Continue
Added by Richard Humphries on March 11, 2011 at 10:39 — No Comments
Added by GOXI on March 11, 2011 at 9:46 — No Comments
By Alfonce Mbizwo
HARARE (Reuters) - Zimbabwe will effectively nationalise half of the country's key resources sector by setting up a sovereign wealth fund to own 51 percent stakes of mining companies, a government minister said on Wednesday.Saviour Kasukuwere, minister of youth empowerment and indigenisation, said the government in the resource-rich country would… Continue
Added by GOXI on March 11, 2011 at 9:41 — No Comments
Today, 10th March, 2011 the Ghana National Petroleum Coproration as the NOC announces on behalf of the governemnt and on its own behalf that its first cargo from the Jubilee Field was successfully lifted by their agents Vitol SA and Cirrus Oil Services.
The crude on board the MV Poetic a Greek flagged vessel was sold to Sun International, subsidiary of Sunoco, a USA based company.
For more info click links below;…Continue
In case you are wondering what the role of the World Bank is in supporting the Extractive Industries Transparency Initiative, let me share this article with you, which shows why the Bank's support is so crucial, what progress has been made so far, and what are some of the challenges ahead. In there you will also find a link to our video: Making Transparency Work. Enjoy!
Added by Mauricio O. Rios on March 10, 2011 at 23:53 — No Comments