In too many resource-rich countries, mining fails to contribute to equitable and sustainable economic and social development, due to especially high risks of corruption.
Effective governance and corruption control are key to successfully ensuring that a country can sustainably benefit from the extraction of its natural resources. Progress has also been made in the establishment and/or improvement of governance and accountability policies and practices in the mining sector.
We want to reduce the risk and incidence of corruption in the mining sector in Australia and internationally, by improving:
- transparency of decision-making about granting of mining exploration and extraction licences in Australia
- public and stakeholder access to mining revenue information, including where companies are based and where they operate, and
- public disclosure of the payment and application of mining revenues, as a vital control on the ability of individuals, companies and governments to engage in corruption.