British High Commissioner Paul Turner says EITI can strengthen mining transparency, revenue and benefits for Solomon Islands.
On Monday, British High Commissioner, Paul Turner, and Permanent Secretary of the Ministry of Finance and Treasury, David Dennis, did a formal launch of the next phase of UK support to Solomon Island’s successful re-entry to the Extractive Industries Transparency Initiative (EITI).
EITI is the international governing body with responsibility for overseeing good governance in the mining sector across the world. The EITI secretariat is based in Oslo, Norway.
Last week, the EITI Board welcomed Solomon Islands back as an EITI implementing country; Solomon Islands had left EITI in 2018 after failing to satisfy its commitments.
In accordance with the EITI, Solomon Islands is now required to publish all information related to its mining sector to improve public management and transparency after years of uncertainty and secrecy.
The UK, working with UNDP, has been at the forefront of efforts to re-enter Solomon Islands into the EITI. The UK will now continue its support to help the country fulfil its obligations under the EITI.
Solomon Islands is re-engaging with the EITI at a time of renewed growth in its mining sector, particularly in gold and nickel. Mining is becoming increasingly important to the country’s economic diversification efforts and is projected to continue growing, driven by the ramp-up of the Gold Ridge gold mine and the Kolosori nickel project.
High Commissioner Paul Turner said:
“EITI can support Solomon Islands in strengthening its revenue collection and exports. It is a win – win – win: for Government; local communities; and for mining companies who will have greater export markets.”
Last week, the EITI Board welcomed the Government of Solomon Islands’ renewed commitment to EITI implementation and commended the efforts of government, industry, and civil society to adopt a more equitable and environmentally responsible approach to decisions on mining activities.
A new Multi-Stakeholder Group – consisting of central and local government, mining companies, local communities and civil society – will monitor activities across the sector.
The next phase of UK support will see Solomon Islands develop a national plan setting out arrangements for disclosure of mining information in all provinces as well as continuing to build capability of local stakeholder monitoring and reporting and ensuring the Government is able to provide regular reporting to the EITI Secretariat.
“Membership of EITI has the potential to transform the mining sector in Solomon Islands, said High Commissioner Turner. It will ensure that mining does not go the same way as logging did in this country.”
British High Commissioner Honiara, Press Release
