Kumtor Gold Company President Almazbek Baryktabasov met with Helen Clark, Chairperson of the Extractive Industries Transparency Initiative (EITI). The company’s press service reported.
The parties discussed key issues related to increasing the transparency of the company’s production and financial activities. Kumtor President Almazbek Baryktabasov told about the company’s work, emphasizing the importance of these processes for further strengthening trust and improving corporate openness. He noted that the company is actively working to improve reporting, transparency and strengthen control over compliance with production, environmental and social standards.
Almazbek Baryktabasov also highlighted the key steps taken by the joint-stock company to improve reporting processes and interaction with government agencies and society.
The EITI is an international standard that promotes revenue transparency and accountability in the extractive industry. The EITI rules establish a methodology for monitoring and coordinating payments and government revenues from the oil, gas and mining industries at the state level. The initiative is designed to institutionalize the mechanism for publishing data and is aimed at combating corruption in the extractive industries by raising public awareness of revenues and taxes.
