8 more companies functioning in Kazakhstan have joined to the Extractive Industries Transparency Initiative (EITI), through signing a relevant memorandum. Trend special correspondent in Astana reports citing the Ministry of Energy and Mineral Resources of Kazakhstan.
These are the enterprises Sokolovsko-Sarbaysk ore mining and processing enterprise, Vasilkovsk ore mining and processing enterprise, Kazkhro company, Jayrem ore mining and processing enterprise, Aluminiy Kazakhstan, Alga KaspiyGas, Max Petroleum and Eurasian Energy Corporation
Earlier, 38 companies, as well as 52 NGOs and associations of Kazakhstan had signed a memorandum.
EITI was announced by the British Premier Tony Blair in September 2002. It targets the achievement of transparency in information on payments by production companies, as well as the revenues of governments of countries with rich natural wealth.
In June 2005 the President of Kazakhstan, Nursultan Nazarbayev, announced on Kazakhstans support to the UKs initiative. The EITI envisages conduct of audit in line with the international standards upon companys report to the government on remittances to the countrys public.