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Report Warns of Falling Transparency of Extractive Companies in the Country – Kenmare Leads, Total Falls

Report Warns of Falling Transparency of Extractive Companies in the Country – Kenmare Leads, Total Falls

A report by the non-governmental organisation (NGO) Centre for Public Integrity has warned of a reduction in the level of transparency of companies operating in the extractive industry in Mozambique, with emphasis on the environmental component.

“The level of transparency in the sector has reduced by 26 points out of a total of 100,” says the 2nd edition of the Extractive Sector Transparency Index (ITSE) report, presented this Thursday by the Centre for Public Integrity (CIP), a document that analysed the transparency levels of 22 companies in the sector operating in the country.

Kenmare Resources, which explores heavy sands in the North, was pointed out, once again, as the most transparent company in the extractive sector in Mozambique, with 79 points.

“Overall, the fact that Kenmare Resources is the only company on the list with a website for the project underway in Mozambique, where significant information about the project is made available, contributed to this position,” the report said.

Vale, a company that explores coal in the centre of the country, came in second place, with 69 points, and Sasol, which explores natural gas in the south, came in third place with 55 points.

The NGO notes that the big players in the Rovuma basin gas projects, where huge revenues are expected to accelerate Mozambique’s development, were not in the top positions of the index. “The Total company, which in the previous edition was in third position, was one of the companies that showed a considerable drop, and in this edition it is in ninth position,” the CIP report states.

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Total, which in the previous edition occupied the third position, was one of the companies that showed a considerable drop, occupying this edition the ninth position”, says the CIP report.

The ITSE is based on a rating assigned to Mozambican and foreign companies in the mining and oil sector, which aims, based on international analysis criteria, to assess the levels of transparency with regard to sharing useful information about their investments.

The initiative, launched by CIP in 2020, assessed companies based on four indicators: fiscal, social, environmental and corporate governance component.

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