3 of the 10 key policy decisions announced last week at the meeting of G8 Leaders at Lough Erne in Co. Fermanagh Northern Ireland, refer to the role of Extractive Industries, as follows;
- Extractive companies should report payments to all governments-and governments should publish income from such companies
- Minerals should be sourced legitimately, not plundered from conflict zones
- Land transactions should be transparent, respecting the property rights of local communities
Responsible mining and hydrocarbon companies will welcome these measures which are in keeping with the Extractive Industries Transparency Initiative (EITI) adopted by International Finance Agencies and supported by the industry.