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Newmont response & statement on repeal of transparency regulations under US Dodd-Frank Act section 1504
Author: Newmont Mining (USA), Published on: 2 February 2017
The Importance and Value of Revenue Transparency
Newmont’s long-standing practice of transparently reporting tax and royalty payments in the countries where we operate is anchored in our commitment to the Extractive Industries Transparency Initiative (EITI). Newmont became a founding participant of the EITI – along with the Publish What You Pay (PWYP) campaign – in 2003... Newmont has actively encouraged the countries in which we operate – including the United States – to join and abide by the obligations associated with EITI membership. Newmont also is a member of the U.S. EITI Multi-Stakeholder Group working to establish the framework for the U.S. to join the EITI... Newmont believes that revenue transparency is essential to generating long-term value... In addition, reporting those revenues according to internationally accepted standards makes that information more credible and accessible to all stakeholders.
[Newmont's response also referred to its 2013 letter to the US Securities and Exchange Commission, during the SEC's rulemaking to implement the revenue transparency provisions of the US Dodd Frank Act (section 1504), which states Newmont's support of those provisions and their objectives.]
This is a response from the following companies: Newmont