Transparency International’s Mining for Sustainable Development programme has launched two new factsheets.
Business Integrity: This factsheet provides clear recommendations for businesses to mitigate the risks of corruption when securing exploration and mining rights and approvals. It outlines why having effective systems in place to detect, prevent and manage corruption risks is a business imperative.
Beneficial Ownership: This factsheet outlines why corruption risks significantly increase when the identity of those who own, control or benefit from companies holding rights to a country’s valuable resource wealth is hidden from the public. It outlines six key steps governments can take using beneficial ownership data to combat corruption when deciding who and under what conditions to award mining sector licences, permits and contracts. The factsheet provides practical guidance to governments to strengthen their systems for screening the integrity, character and track record of applicants.
The MACRA Tool: This factsheet explains the Mining Awards Corruption Risk Assessment Tool, a highly effective instrument for identifying and assessing the risk factors that open the door to corruption in government decisions about whether, where and under what conditions to award mining rights. See also the MACRA report.