Contract disclosure in oil, gas and mining is rapidly becoming standard practice around the world, but in Myanmar, there has been little progress on contract transparency. The government now has an important opportunity to overhaul disclosure requirements and ensure Myanmar keeps pace with a growing global trend.
This briefing explains why the Mongolian government should publish natural resource contracts, describes the different contracts that exist in Mongolia’s extractive sector that should be disclosed, and suggests a path for making natural resource contract transparency a reality.
Regulatory and public pressure to increase transparency about the real people who own, control, or gain substantial economic benefits from companies—also known as beneficial owners—is growing globally.
Dans la plupart des pays riches en ressources naturelles, lorsqu’une entreprise cherche à obtenir des droits d’exploration ou d’exploitation pétrolière, gazière ou minière, les règles de l’industrie exigent que les régulateurs vérifient certaines informations fondamentales avant d’octroyer une licence et le contrat s’y rattachant à l’entreprise.
NRGI reviewed over 50 mining and oil laws and found that none required regulators to actually check whether applicants for extractive licenses are politically exposed persons. This briefing offers advice on how governments can strengthen their extractives licensing policies and processes to tackle basic corruption risks posed by such problematic beneficial ownership linkages.