For their continuing commitment in ensuring responsible reporting of payments made to government, two operating companies (OpCos) of Nickel Asia Corporation (NAC) were awarded by the Philippine Extractive Industries Transparency Initiative (PH-EITI).
Taganito Mining Corporation (TMC) received the Transparency Award for Excellence in Reporting for Metallic Category. This is the second consecutive year that TMC earned this recognition, earning its first in 2017.
Rio Tuba Nickel Mining Corporation (RTNMC), on the other hand, won the same award in the non-metallic category for its Gotok Limestone Quarry in Bataraza, Palawan.
The award was given by the Philippine Extractive Industries Transparency Initiative (PH-EITI) at the Philippine International Convention Center (PICC) in Manila last April 18, 2018.
The award was signed by Department of Finance (DoF) Undersecretary Bayani Agabin, the Focal Person and Chairperson of the PH-EITI Multi-Stakeholder Group (MSG), which governs the EITI at the national level.
NAC Vice President for Internal Audit, Maria Angela G. Villamor and Senior Vice President & Chief Financial Officer Emmanuel L. Samson received the award for TMC.
The winning companies were assessed based on timeliness of template submission, comprehensiveness and completeness of information in the templates and least discrepancy in figures.
“TMC has consistently shown its commitment to uphold and support initiatives promoting transparency in the extractive industry,” shared VP for Finance and Administration Lennie A. Terre.
“Since the beginning of TMC’s operation, we have been committed to maintain transparency to our employees and our stakeholders,” TMC Resident Mine Manager Artemio Valeroso reiterated.
The EITI is an international global standard ensuring transparency of revenues from natural resources.
It requires the government to publish collections received from companies in the oil, gas and mining sectors and for these companies to also publish payments made to the government.
It is a multi-stakeholder initiative involving the government, industry and civil society.
The EITI provides a platform to systematically report on, review, and assess what is being paid by companies and received by governments through a system of bilateral disclosures.
Representatives from the government, extractive industries and civil society comprise the MSG which oversees the implementation of the EITI in the country.
On March 10, 2017, Administrative Order 2017-07 was signed by then DENR Secretary Regina Lopez mandating all mining contractors to comply with EITI requirements.
NAC leads the original member companies since EITI started inviting membership in 2014.
