extractives

Oxfam hailed today’s passing of a law banning metallic mining by the Salvadoran government. The law comes after years of violence and social tensions around mining in the country and strong opposition to mining from more than 77% of the country’s population.

Latin American countries have failed to govern their lands fairly and are now so deep in thrall to rich elites and big business that the future of sustainable and inclusive development of much of the continent hangs in the balance.

Oxfam hailed today’s ruling against mining company OceanaGold, which effectively ended the company’s lawsuit against El Salvador for not granting it a mining permit.

Oxfam raised the alarm today that a leading global transparency initiative for the oil, gas and mining sector faces a crisis of relevance and legitimacy. As the Extractive Industries Transparency Initiative (EITI) meets for its Global Conference in Lima, Peru this week, Oxfam calls on the EITI Board and stakeholders to regain its position as a leader in reforming the industry.

Inequality in Africa is rising to dangerous levels and unless checked will undermine the usefulness of economic growth on the continent.

Oxfam International Executive Director Winnie Byanyima said:

“Oxfam welcomes this high-level push for transparency and accountability in the oil and mining sector.

For countries rich in minerals and hydrocarbons, natural resources should provide an essential source of financing for development.

Voluntary approaches to increasing transparent and accountable management of natural resources wealth are making sluggish progress. The Extractive Industry Transparency Initiative must put in place additional mandatory disclosure rules.