Home > Cameroon Cobalt - Nkamouna > EITI
EITI
EITI Membership
In 2005, the republic of Cameroon became a charter member of the Extractive Industries Transparency Initiative (EITI), an international consortium of nations that actively participate in extractive industries such as oil & gas production and minerals mining. The EITI's official website is http://eiti.org/, on which a map depicting its member countries is prominently shown.
The purpose of the EITI is to "make natural resources benefit all" by setting global governance standards for oil, gas, and other mining activities via the creation of accounting systems that help to verify and disclose all company payments and government revenues from these industries. Click here for more detail on the Principles and the Benefits of the EITI.
Simultaneously, Cameroon created its own EITI committee, the Comité EITI Camerounais (www.eiticameroon.org), charged with promoting Cameroon's interests within the EITI and maintaining its compliance. As a major mining interest in the country, Geovic Cameroon plc is proud to be a member of the 25-person Comité EITI Camerounais.
Cameroon is in the process of completing its application to upgrade its status from charter member to full member, with the validation deadline currently set at September 9, 2010 and the final vote scheduled for October 2010.