The discrepancy between the values ​​declared by mining operators and the amounts received by the Mozambican State currently stands at 0.2 percent, according to the fifth report under the Extractive Industry Transparency Initiative (EITI).

The first report produced under the EITI had a discrepancy of 54 percent between the values ​​declared by the companies and accounted for by the state, according to the fifth report cited by daily newspaper Notícias.

The report now presented in Maputo refers to the 2012 financial year and covers around 56 companies with a value of government revenue of around 11 billion meticais and a discrepancy of 0.2 percent, far below the 3 percent set as the maximum recommended figure.

Alfredo Nampete, Permanent Secretary of the Ministry of Mining Resources and Energy, which presented the document, said the diversity of the information contained in the report is consistent with the new standards of the EITI.

The National EITI coordinator, Custodio Nguetana, referred to the advantages of implementing the initiative considering that it ensures that payments of companies and government receipts are disclosed on a regular basis and in the public domain.

Information provided during the meeting showed that Mozambique’s fifth EITI report includes a comprehensive contextual analysis and reconciliation between state receipts and payments made by extractive industry companies in 2012, in line with EITI requirements and the recommendations of its Steering Committee. (macauhub/MZ)