Government questions why country should join growing global initiative, writes Sue Blaine.
THE expansion of South African miners into the rest of the continent and the world reinforces the argument that SA needs to join a growing international initiative aimed at setting a global standard for transparency in oil, gas and mining, says Peter Leon, head of Webber Wentzel Bowens’ Africa m ining and energy p rojects p ractice.
The government argues it is "not necessary" for SA to join the Extractive Industries Transparency Initiative because it is a mature mining economy with advanced revenue collection systems. It questions why it should do so when developed countries are not under the same political pressure to sign up.
"SA is a major investor in Africa … and that is all the more reason for us to sign up to the (initiative)," Mr Leon says.
Business Day
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