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TRANSPARENCY

Solomon Islands National Mineral Policy provide for Beneficiary Ownership Discloser.

Government of Solomon Islands has launched the National Mineral policy-2017-2021 in June 2017. The policy formalise Beneficiary Ownership (BO) discloser as a requirement and condition for extractive industries that invest in the mining sector.

The policy require that all current and future mining companies to disclose their beneficial owners to the Government and the Government in turn published BO of companies that gain licences or contracts on annual basis. This is the first time for Solomon Islands to have BO in its policy. 

Government is now leading implementing the policy and SI EITI Office is partnering, however significant reforms and review of existing legislations and regulation is require to pave ways for full roll out of the policy.

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Solomon Islands to Review EITI Implementation

The Solomon Islands Extractive Industries Transparency Initiative (SI EITI) Stakeholders endorsed review of EITI implementation for Solomon Islands to ensure it consider interests and relevant to stakeholders. This is to ensure stakeholders meaningfully participation on the EITI process.

The decision was made during a National Stakeholders Group (NSG) meeting in December 2017. Over the past years, mining companies have been reluctant to supply require data to the Solomon Islands EITI Office for the reconciliation process.

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SIEITI Brief - November 2015: Summary Key Update of Solomon Islands EITI Implementation

The EITI Office was set up in early 2014 with 2 permanent staff currently employed. The Head   of Secretariat and Procurement Officer.  The SI EITI Office was located at old Government Printers Office.

  • First EITI Reconciliation Reports, 2012, 2013 was Published – June 2014.  One of the important EITI requirements is for countries to produce their EITI reports on a regular basis.

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SIEITI Commits to do its Role

The Solomon Islands Extractive Industry Transparency Initiative (SIEITI) is dedicating itself to ensure the government, companies, landowners and other relevant stakeholders are well informed about resource benefits from the mining industry.

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Honiara

Solomon Islands

P. +677 23702 | F. +677 27855

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