Press release, Yerevan, 20 February 2019

Conference on the First National Report of the Extractive Industries Transparency Initiative of Armenia

Read this press release in Armenian

  • Share

The Government of Armenia in collaboration and with the support from the World Bank and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) organized a Conference devoted to the First National Report of the Extractive Industries Transparency Initiative (EITI) of Armenia.

Representatives of RA Government, mining companies, civil society, EITI International Secretariat, governments of other EITI member countries and international organizations participated in the conference on 30 January 2019.

This is the first EITI national Report published by Armenia. The report has been prepared by EY Armenia office, selected as an Independent Administrator for preparation of the EITI Report.

It is one of the most important results of activities toward the implementation of the EITI Standard. This achievement was preceded by capacity building activities, sector-related studies, legislative amendments, etc.

The EITI National Report is aimed at providing comprehensive information about the sector in one place, enabling stakeholders to use it for conducting analysis, initiating debates on key issues and  embarking on reforms.

RA Deputy Prime Minister Tigran Avinyan delivered an opening speech at the conference and noted: "Public attention has been always riveted on the metal mining industry in Armenia, taking into consideration its role in country's economy, as well as social, environmental, technological and other issues related to the sector’s activities. Thus, it is clear, therefore, that enhancing transparency and accountability of the sector and  making it compliant with international criterias is our primary goal. And the most reliable way to reach this goal is the full implementation of the EITI in Armenia".

According to the EITI standard, state bodies and mining companies have provided public reports, based on which the EITI National Report was developed. The latter includes information on the payments from the metal mining companies to state and community budgets and revenues received by the government, as well as information on reserves, volumes and value of production, export and local sales by commodity in the metal mining industry.    

Implemented reforms, along with the preparation of this report, ensured other activities in order to increase transparency, such as legal obligation to publish the metal mining contracts.

The Extractive Industries Transparency Initiative (EITI) is a global standard that promotes open and accountable management of natural resources. Its goal is to create more transparent and accountable state and business systems, as well as to promote public dialogue, thereby guaranteeing mutual understanding between the stakeholders.

About EY

EY is a global leader in assurance, tax, transaction and advisory services.

EY works together with companies across the CIS and assists them in realizing their business goals. 4,500 professionals work at 19 CIS offices (in Moscow, St. Petersburg, Novosibirsk, Ekaterinburg, Kazan, Krasnodar, Rostov-on-Don, Togliatti, Vladivostok, Almaty, Astana, Atyrau, Bishkek, Baku, Kyiv, Tashkent, Tbilisi, Yerevan, and Minsk).

EY was registered in Armenia on 12 July 1999. At present, over 65 professionals in Assurance, Tax & Law, Advisory and Transaction Advisory Services departments are employed in Yerevan office.

Staying committed to building a better working world, EY advisory services help to solve the complex industry issues in order to strengthen the value of companies' workforce, as well as employees' roles and careers.