Mining is one of the most controversial of all extractives industries. Yet with transparency and accountability, it could benefit all, according to a top anti-corruption expert.
If mining companies and governments published all their mutual transactions, that would prevent corruption, extortion and loss of revenues, and ultimately lead to inclusive development, equitable redistribution of wealth and a healthy environment, Huguette Labelle, former chairwoman of the board for Transparency International, told Devex Associate Editor Richard Jones on the sidelines of the Democracy Forum 2014 in Gaborone, Botswana.
Committing to principles like the Extractive Industries Transparency Initiative, she added, would make corporations better viewed by local communities and empower the latter to demand governments a share in the revenues from mining, oil or coal.
About the author
Lean Alfred Santos@DevexLeanAS
Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.