I share the views expressed in all comments below. In particular, I share blogger Elisabeth Rosenthal's views as reported by Jared Miller from the RWI. Transparency is certainly one of the enabling factors that may contribute to “better  development outcomes” but it should not be seen as an end in itself as Honorable Clare Short, President of EITI Board pointed out last year during a roundtable in Canada. There are many other factors  conducive of   "better development" outcomes without which transparency is a sterile exercise. Information generated and made available thanks to transparency may not be understood  and therefore not used by all stakeholders to inform decision- making process. A good starting point is to look for a Vision.  Do resources-  rich developing countries have a Vision, a long- term social and economic  planning or strategy that clarifies the contribution that extractive industries is expected to do to overall development of the country? Is that sustainable?  And for how long? How “inclusive” are stakeholders engagement and consultation? How strong are oversight mechanisms? The whole point of Transparency is to improve Accountability that is ...having people with knowledge that can hold their governments to account so that they can ensure EI revenues are spent according to the kind of socio-economic development conveyed by, hopefully, a shared  “Vision” for the future of the  country.  Transparency is one crucial step, but alone can not lead to “better development outcomes”. There is much work to do in strengthening democratic  governance and empowering stakeholders to hold their governments accountable...in developing countries and developed ones as well.
Thanks José for providing the link the WEF Responsible Mineral Development Initiative, I appreciated reading  Building Block 4 and also chapter 4 on the Use of Mineral Developments Agreements..the pro and cons are many..;-).

Susan, I commend your sincere opinion towards EITI achievements though I believe their initial strategy and approach was somewhat correct. After a decade of experimenting on EITI implementation and following the many expressions of discontent from societies worldwide due to government resource mismanagement, there is a pressing need to move towards a bolder accountable response from governments.

At this point in time, wouldn’t it be evident that once a government announce its commitment to join the EITI, it would take immediate legal measures to encourage participation from industry and civil society like Nigeria did?

In Peru, the public is pushing for improvement in effective fair distribution of wealth and the industry is vigilant to new mandatory rules hoping they do not drastically change their status quo, attitude that is been reproduced in many countries as in the case of the US with the Dodd-Frank Act...