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Azerbaijan International Mining company joins Transparency Initiative.


[ 26 Feb 2010 17:39 ]
Baku. Rashad Suleymanov – APA-ECONOMICS. Azerbaijan International Mining Company limited (AIMC) became the 28th extractive sector company that joined Memorandum of Understanding on implementation of the Extractive Industries Transparency Initiative in Azerbaijan by signing the Instrument of Accession to MOU on February 25, 2010. AIMC will submit the 2009 annual report on payments to the government of Azerbaijan.

AIMC is a gold and silver mining company operating in Azerbaijan. Joining of this company to the EITI is a new phase of EITI implementation in Azerbaijan. It is the first time apart from oil and gas companies other extractive sector company joined to this process.

The National Committee on EITI, 21 foreign and local extractive industry companies and non-governmental organizations signed MOU on November 24, 2004. Inpex of Japan, Binagadi Oil, RAFI Oil, NICO, Apsheron Investment Ltd and GDF SUEZ Exploration Caspian B.V. joined MOU later by signing the Instrument of Accession.

All extractive sector companies operating in the country (28 companies) now are the stakeholders of EITI implementation process in Azerbaijan.

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