The Ministry of Natural Resources and the Environment has established a Multi-Stakeholder Group (MSG) as the national committee for the Guyana Extractive Industries Transparency Initiative (EITI) to promote a high level of transparency in the activities of the local extractive industries.
A release from the Government Information Agency (GINA) said Minister Robert Persaud noted that given the growth and development of the local mining sector, and its contribution to the national economy, it is imperative that the best standards for transparency are upheld. Signing on to this EITI will allow for improvements in governance for the sector and better policies for the overall management of the industries.
GINA noted that the principles and criteria of the EITI will allow Guyana to adopt international standards for the mining sector and promote greater transparency for the various sub-industries.
The work of the MSG will focus on Guyana’s preparation to apply for candidacy to the EITI. Guyana will seek to work with the Inter-American Development Bank (IDB) and the World Bank to undertake a scoping study on the readiness for EITI. This study will involve all necessary levels of representation of the extractive industries.
The Ministry of Natural Resources will be the lead agency in the implementation of the EITI and will work along with the membership of the national committee to further serve and better guide the growth of the industries. Implementation of the EITI principles will allow Guyana to develop a sustainable roadmap for the management of its natural resources.
GINA said that the MSG comprises a broad base of stakeholders including personnel from the Ministry of Natural Resources and Environment, Guyana Geology and Mines Commission (GGMC), Environmental Protection Agency (EPA), Ministries of Amerindian Affairs, Legal Affairs, Local Government and Regional Development and Finance, Guyana Revenue Authority (GRA), Audit Office of Guyana, and representatives from the Private Sector Commission (PSC), Guyana Gold and Diamond Miners’ Association (GGDMA), Iwokrama International Centre for Rainforest Conservation, Guyana Women Miners’ Association, The Amerindian Action Movement of Guyana (TAAMOG), the Bauxite Companies, Sand and Stones Companies.
