Solomon Islands has re-joined the Extractive Industries Transparency Initiative (EITI), with the UK government providing further support to help the country meet its transparency and governance commitments in the mining sector.
British High Commissioner Paul Turner and David Teika Dennis, permanent secretary of the Ministry of Finance and Treasury, formally launched the next phase of UK government support on 21 September.
The EITI Board welcomed Solomon Islands back as an implementing country on 16 September, following its withdrawal from the initiative in 2018 after failing to meet its commitments.
Under EITI requirements, Solomon Islands will now be expected to publish information on its mining sector to improve public management and transparency.
The UK government, working with the United Nations Development Programme (UNDP), has supported efforts to bring Solomon Islands back into the initiative and will continue assisting the country in meeting its EITI obligations.
The re-entry comes as Solomon Islands' mining sector is expanding, particularly in gold and nickel. Mining is expected to play a growing role in economic diversification, supported by the ramp-up of the Gold Ridge gold mine and the Kolosori nickel project.
"EITI can support Solomon Islands in strengthening its revenue collection and exports," Turner said.
"It is a win-win-win for government, local communities and for mining companies who will have greater export markets."
The EITI Board said it welcomed the government's renewed commitment to implementation and commended efforts by government, industry and civil society to promote a more equitable and environmentally responsible approach to mining decisions.
A new multi-stakeholder group comprising central and local government, mining companies, local communities and civil society will monitor activities across the sector.
The next phase of UK support will focus on developing a national plan for disclosing mining information across all provinces, strengthening the capacity of local stakeholders to monitor and report on the sector, and helping the government provide regular reports to the EITI Secretariat.
Turner said EITI membership could have a significant impact on Solomon Islands' mining sector.
"Membership of EITI has the potential to transform the mining sector in Solomon Islands," he said. "It will ensure that mining does not go the same way as logging did in this country."
The EITI Secretariat is based in Oslo, Norway.
