Bylaws Ensuring Detection of Real Owners of Mines Being Developed within EITI

Bylaws Ensuring Detection of Real Owners of Mines Being Developed within EITI


Currently, the EITI Interdepartmental Task Force on Disclosure of Real Owners is in process of drafting sub-legal acts providing for the discovery of real owners, as Deputy Prime Minister Tigran Avinyan stated at the Extractive Industries Transparency Initiative (EITI) Multi-Stakeholder Group meeting, which was held on September 5.

It should be noted that disclosure of property rights is a mandatory requirement of the EITI process. Although the level of disclosure has been determined, it will be clear in January 2010 who was included in the open list.

The concept paper on EITI Multi-Stakeholder Group Approach to Responsible Mining was approved during the meeting, which outlines the key areas proposed by the Multi-Stakeholder Group for introducing a responsible mining culture.

This year the Republic of Armenia will have to undergo the first international ratification of the EITI. The ratification assesses the country's progress in meeting all the requirements of the EITI Standard. Based on the ratification assessment, the EITI International Council confirms the country's progress (status). “There are a number of mining management issues in the Republic of Armenia. From this point of view, from the point of view of applying international best practices in the field of mining and raising social and environmental responsibility, the initiative to develop a concept paper on responsible mining through the EITI, through which a multi-stakeholder group will pursue existing environmental, social and environmental management, legislation and social identifying and correcting problems,” the EITI Armenia official website says.


15:17 September 09, 2019


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