Economy February 24, 2016 | 4:03 pm

Dominican Republic joins world’s transparency in mining

Santo Domingo.- Dominican Republic on Wednesday became the50th country in the London-based Initiative Extractive Industries Transparency (EITI),an organization which requires its members to adopt practices in managing fundsfrom mining.

Energy and Mines minister Antonio Isa said DominicanRepublic could be declared "compliant country" within 18 months, whenit submits its first report on monitoring and enforcing rules of EITI, a globalcoalition of governments, industry and civil society that seeks to promotetransparency and accountability in the exploitation of mineral resources, oiland gas.

The decision announced in the Peruvian capital at the 7thWorld Conference on EITI, , takes place for the first time in a Latin Americancountry this week, with the participation of more than 50 delegations fromnations assigned to the entity and nominated candidates.

The EITI announced the Caribbean country’s admission to theofficial delegation headed by Isa, accompanied byrepresentatives from civilsociety and extractive companies, as Participation citizen, National Space for Transparencyin Extractive Industries (ENTRE), and the miners Barrick Pueblo Viejo andFalconbridge.

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