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Kyrgyzstan awarded for transparency in mining sector

Kyrgyzstan received an international award for «progress in the implementation of the beneficial right» of the Extractive Industries Transparency Initiative (EITI). Press service of the State Committee of Industry, Energy and Subsoil Use of the Kyrgyz Republic reported.

It was noted that the award was handed to the Chairman of the State Committee of Industry, Energy and Subsoil Use Ulanbek Ryskulov today in Jakarta (Indonesia) at a conference on beneficial right. Kyrgyzstan was awarded for the introduction of legislative norms, providing for mandatory public reporting on beneficiary participation.

EITI is the global standard for managing oil, gas and mineral resources of countries. The standard is introduced by the government in cooperation with companies and civil society.

Last year, the EITI decided to adopt new rules for the disclosure of beneficial right for all mining companies operating in 52 countries. By 2020, companies that apply for or have a share in licenses or contracts for the exploration or production of oil, gas or mineral resources in a country- member of EITI must report the name, nationality of the beneficiary and the country of residence, any politically important persons, related to the enterprise.