Mining sector companies still not providing information to local transparency body

-GYEITI Report

Some mining sector companies are still not providing information on payments to the state, according to the GYEITI report for 2022.

Information on the flow of monies to the state is crucial in ensuring accountability and transparency for revenues and is a key part of the function of the Guyana-Extractive Industries Transparency Initiative (GYEITI). The  Norway-based global Extractive Industries Transparency Initiative (EITI)  seeks to establish a global standard for the good governance of oil, gas and mineral resources. It requires information along the extractive industry value chain from the point of extraction, to how the revenue makes its way through the government and into the economy. 

The 2022 GYEITI report said that the Multi Stakeholder Group (MSG) selected entities in the mining sector whose reported government receipts represented nearly two thirds of government income from mining.