Thursday, July 30 2020 14:16

ArmInfo.Armenia makes significant progress in implementing the global standard for good governance in its mining sector. This is stated in the message of  USAID- Armenia on Facebook.

According to the source, recently, Armenia became the 9th out of the  53 countries participating in the Extractive Industries Transparency  Initiative (EITI) to achieve the highest status rating for  implementing the 2016 EITI Standard, the global document outlining  the compliance requirements for countries having joined the EITI.

Following Armenia's first validation assessment since it joined the  EITI in 2017, the EITI Board commended the Government of Armenia  (GOAM) and the EITI Multi-Stakeholder Group for its exemplary  progress, highlighting its efforts to elevate mining issues into  broader transparency and governance efforts, integrate the EITI  process into the reform agenda of the mining sector, and set a  precedent for constructive dialogue and cooperation between different  constituencies.

Armenia became an EITI candidate country in March 2017, with  political and technical support from the USG. The United States  Agency for International Development (USAID) provided direct  assistance to the Government of Armenia to facilitate Armenia's  application for EITI membership and catalyzed other donor support to  the EITI effort.

USAID's current support focuses on strengthening civil society's  capacity to conduct oversight of the EITI implementation and  fostering professional media coverage of the mining sector and the  EITI process.   To recall, as Prime Minister of Armenia Nikol Pashinyan reported in  May of this year, specific processes are underway in the country to  disclose the names of the real owners of mining enterprises. "We have  not postponed this question. The process is underway and will be  completed. There is no other alternative," he stressed. In this  regard, the Prime Minister recalled the legislative changes, the  entry into force of which obliged economic entities to submit the  names of the real owners by February 20, 2020. Pashinyan said that in  general, the implementation of these processes is a new system in the  mining industry, but not only for Armenia, but for the whole world.  

<But, between us, the names of the real owners are known, at least at  the public level. In addition, there are certain criminal cases, as a  result of which the answers to all questions will be announced,> he  added.  To note, at the end of 2019, more than 670 solid mineral  deposits with proven reserves, including 30 metal ones, are  registered on the state balance sheet of mineral reserves.  

EITI is a coalition of governments, companies, civil society,  investors and international organizations. It was created in 2002 at  the initiative of the then British Prime Minister Tony Blair at a  conference on sustainable development in Johannesburg. The goal of  the Initiative is to increase transparency and improve governance in  the extractive industries through periodic reporting, adherence to  standards, and institutional strengthening.  Armenia intends to  extend the EITI standards to the energy sector.