The Mining Association of Canada (MAC) and its members have expressed support for the Extractive Sector Transparency Measures Act. The announcement fulfills Canadian Prime Minister Harper’s commitment from June 2013 to enact such transparency legislation within two years.
“This legislation places Canada at the forefront of international efforts to eliminate corruption and promote transparency. The Mining Association of Canada and its members are proud to have played an active role in collaboration with the government of Canada and civil society in the promotion and design of this important legislation,” said Pierre Gratton, president and CEO, MAC.
The Canadian mining industry has been a strong supporter of transparency. From 2012 to 2014, MAC and fellow members of the Resource Revenue Transparency Working Group (RRTWG) — the Prospectors & Developers Association of Canada, Publish What You Pay-Canada and the Natural Resource Governance Institute — developed recommendations for Canadian governments and advocated for Canada to join the global transparency movement by making payment disclosure mandatory through legislation. The Extractive Sector Transparency Measures Act, tabled in late 2014, is largely consistent with the RRTWG’s recommendations. As a result of the legislation, all Canadian mining companies will be required to publicly disclose the financial payments they make to governments both in Canada and overseas. The enhanced transparency will help reduce instances of corruption by enabling citizens around the world to hold their governments accountable for how they allocate and spend mining revenues. It will also help to ensure that these revenues contribute to sustainable development and poverty reduction.