Dear Transparency International Canada Colleagues:

Today, the Resource Revenue Transparency Working Group (RRTWG) released its recommendations for the development of mandatory payment transparency standard for all publicly-traded mining companies in Canada. The RRTWG is composed of the Mining Association of Canada, the Prospectors and Developers Association of Canada, Publish What You Pay (PWYP) - Canada and the Revenue Watch Institute.

These recommendations create a road map for a payment reporting framework to Canada's federal and provincial governments, as well as provincial securities commissions, which will support end-users, such as citizens, governments, investors and the reporting companies themselves.

A culmination of over a year of multi-stakeholder consultations across Canada, these recommendations provide the Canadian government with a blueprint to fulfill its commitment, made by Prime Minister Harper at the lead-up to the G8 meetings in June 2013, to implement mandatory payment reporting standards for Canada's mining sector.

TI-Canada is a member of PWYP-Canada and has been actively involved in the RRTWG consultations and in creating the resulting framework.

"TI-Canada recognizes the hard work that went in to producing the mandatory payment transparency standard," said Peter Dent, Chair and President of TI-Canada. "We are pleased that Canada is well on the road to establishing laws consistent with those of the European Union and the US. TI-Canada has developed, and is continuing to develop, materials and resources that will assist Canadian extractive industry companies in complying with these changes and establishing overall anti-corruption compliance programs. It is critical that extractive industry companies review their anti-corruption compliance frameworks as part of complying with these recommendations and the ensuing legislation."

To view RRTWG press releases in English and French, please visit:

http://www.pwyp.ca/images/documents/Working_Group/RRTWG%20Press%20Release%20Jan.%2016th.pdf

and

http://www.pwyp.ca/images/documents/Working_Group/RRTWG%20Press%20Release%20Jan%2016th%20FR.pdf

For further information, please contact Bronwyn Best, Senior Advisor,
TI-Canada: [email protected]; 416-488-3939