Loading ...Canada has released a final version of its rules governing extractive sector transparency, which forces all publicly listed local miners to report payments including taxes, royalties, fees and production entitlements of $100,000 or more to governments both home and abroad.
The Extractive Sector Transparency Measures Act, which came into force in June last year, requires large Canadian oil, gas and mining companies to publish detailed records of the payments they make overseas and locally.
Sums paid to aboriginal governments in Canada will not fall under the law until June 1, 2017.
The legislation is estimated to cover the nearly 2,000 natural resource companies whose businesses are registered in Canada or trade on Toronto’s stock exchange.
cont. http://www.mining.com/canada-unveils-final-anti-corruption-law-for-the-extractive-sector/