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Solomon Islands Attains Extractive Industry Transparency Initiative Candidacy

The Solomon Islands has been admitted as a Candidate Country of the Extractive Industry Transparency Initiative (EITI). The Solomon Islands gained candidacy status at the EITI Board Meeting on 28 June 2012 in Lima, Peru.

EITI is a global standard for revenue transparency in the global oil, gas and mining industry. The EITI application process was prepared jointly by the Solomon Islands Extractive Industries National Stakeholder Group (SIEINGS). SIEINGS is made up of representatives from government, mining companies and civil society organizations.

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Solomon Islands Extractive Industry Transparency Initiative Multi-Stakeholder Group Formed

On 27 January 2012, Solomon Islands has moved a step closer to becoming a candidate country of the Extractive Industries Transparency Initiative (EITI) through the formation of the Solomon Islands EITI Multi-Stakeholder Group (MSG). Government officials, mining company representatives, and civil society groups have worked together to form the MSG at a two day EITI workshop held in Honiara.  EITI is a global standard for revenue transparency in oil, gas and mining.

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Finance Minister to address Workshop on Extractive Industries Transparency Initiative (EITI)

The Minister for Finance and Treasury, Hon Rick Houenipwela, will give the key note address at a workshop on the Extractive Industries Transparency Initiative (EITI) to be held at the Heritage Park Hotel on 26 - 27 January 2012.

The workshop will bring together landowners, government officials, and representatives of non-government organisations and mining companies to learn about the nature and benefits of EITI.  EITI is a global standard for promoting transparency and accountability in countries rich in oil, gas, and mineral resources. It is a government-led initiative which provides a mechanism for reporting, reviewing and assessing what money is being paid by mining companies and what money is being received by governments. The Solomon Islands government officially announced its endorsement of the initiative at a regional EITI workshop hosted by Timor Leste in August 2011.

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Finance Minister Addresses the National Mining and Community Awareness Forum

The Minister for Finance and Treasury, Hon Gordon Darcy Lilo, said today that the Government is serious about developing the mining sector to be a significant source of future growth and opportunity. He said, the Government is committed to ensure that the sector is properly managed so that fair rewards are achieved for the extraction of our non-renewable resources.

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