On March 3rd, former Natural Resources Minister Joe Oliver unveiled a new transparency initiative that will require Canadian mining companies to report significant payments made to governments both abroad and in Canada. Under the new law, medium and large publicly traded companies will post the details of payments above the $100,000 threshold on their company websites, listed on a project-by-project basis.
Oliver described the initiative as a “comprehensive and meaningful approach” designed to “enhance transparency and accountability in the mining and oil and gas industries.”
The new legislation comes as the most recent installment in a long list of policy changes (Read more…)