Extractive Industries Transparency Initiative (EITI)

Since 2011, Eramet has been a member of the Extractive Industries Transparency Initiative (EITI). This global standard and the Group share the same goal: transparency as a principle of action.

In 2010, the Eramet group set up an ethical charter based on responsibility, citizenship, integrity and respect for individuals. The next year, as an extension of this charter Eramet decided to join the Extractive Industries Transparency Initiative (EITI). 

The role of the EITI is to help fight corruption by fostering transparency in money transfers between oil, gas and mining companies and the countries that host their activities. By supporting these principles, Eramet demonstrates its intention to ensure the responsible utilization of natural resources, as well as transparency in financial flows between businesses and host countries. The Group has also committed to regularly reporting to the various stakeholders.

Regarding the publication of mining contracts supported by the EITI, Eramet is waiting for the position of the States in which it controls companies with extractive activities. We believe it is essential that the decision to publish is initiated and implemented by the States, that are signatory parties to the contracts. As soon as a State wishes to make these contracts public, and legal, commercial and confidentiality obstacles are removed, Eramet has no objection to the principle of publishing these contracts.

Eramet currently has sites in four EITI member or candidate countries: Senegal, Norway, Indonesia and Argentina.

  • In Senegal, the company Grande Côte Operations (GCO) contributes to the preparation of the EITI reports of the country, which in 2018 was recognized as the first African state and the fourth in the world to achieve satisfactory progress in implementing the EITI standard.
  • Eramet does not yet have mining production operations in Indonesia and in Argentina (projects under development), while in Norway the Group only has non-extractive sites: its subsidiaries have therefore not been involved in contributing to these countries' EITI reports.

EITI: the transparency imperative

Launched in 2002 by Tony Blair, the EITI draws on a set of principles and rules designed to ensure the transparency of revenue at a local level. Based on the conviction that a country's natural resources belong to its citizens, it has developed a standard aimed at promoting the open and responsible management of oil, gas and mining resources. Implemented in 52 countries, it is actively supported by governments, businesses, civil society groups, investors and international organizations.