Government says it is committed to disclosing all material revenues received from mining companies in order to promote transparency and accountability in the mining sector.
Mines and Mineral Development Minister Kalombo Mwansa said this when he officiated at an extractive industries transparency initiative workshop in Lusaka today.
Dr. Mwansa said government intends to establish the Extractive Industries Transparency Initiative (EITI) to enhance transparency in government and the mining sector in a bid to ensure that citizens benefit through implementation of developmental projects.
The EITI was established in 2002 and countries implementing it commit to publishing all payments made by oil, gas and mining companies to government and all revenues received by government from those companies.
Dr. Mwansa reiterated government’s commitment to channeling revenues collected from the mines to developmental programmes.
He noted that state institutions and agencies mandated to execute development projects funded by revenues from the mines will be closely monitored by various stakeholders.
Speaking earlier, Acting Secretary to the Treasury James Mulungushi called for the prudent management of extractive resources saying without transparency yields from the mines would be disappearing without a trace of achievement for Zambia.
Dr. Mulungushi said there is need for all stakeholders to be involved in the EITI so that citizens are aware of the resources that are being extracted and how much is earned.
And World Bank Country Manager Kapil Kapoor said the EITI can greatly accelerate the attainment of Zambia’s Fifth National Development Plan objectives.
Mr. Kapoor said the success of the EITI requires political will and collaboration among government, civil society and the private sector.
He reaffirmed the World Bank’s commitment to supporting the EITI in countries globally to improve governance of the mining sector.
The EITI is currently being implemented in about 23 countries of which 16 are in Africa.
ZANIS/BK/AM/ENDS
Sounds good but what I would love to see is an audit report on Government’s expenditure . Too much to ask and I think that can never be
This is a clue that in the past, I mean recent past, there has been HIDE & SEEK.
Where was the cash going? PLUNDERERS GAINED
We want transparency over the STABILITY of LPM!!!
# 3 am with you on this one too!
What benefit is transparency if the regulatory framework is weak or non-existent? The legal/regulatory framework is weak by design in order to benefit the few and letting the majority carry the cost of all the operations. How well does our environmental agency enforce laws concerning pollution? Anyone checked out the Kafue river as it goes past Chingola Nchanga mines? You cannot advocate exploitation of resources without any advocacy of stewardship of the environment. A govt should not expect private companies to engage in development project when there is no profit/benefit to the company. How much power does the Zambian consumer have to affect the profits of these companies? None!!
Liars