SOLOMON Islands Government is preparing to reapply for membership in the Extractive Industries Transparency Initiative (EITI) after withdrawing in 2018.
Permanent Secretary of the Ministry of Finance and Treasury (MoFT), Dentana Mckinnie, confirmed this during the Solomon Islands EITI Consultation Meeting held at Mendana Hotel last Friday.
Mr Mckini stated that Solomon Islands withdrew from EITI in 2018 to reform and strengthen transparency in the mining sector.
“Now, with a structured work plan and increased mining activities, the Government is preparing to reapply for EITI membership,” he said.
He added that MoFT and the Ministry of Mines, Energy & Rural Electrification (MMERE), with support from the EITI International Secretariat and donor partners, are working to establish the Solomon Islands EITI (SIEITI) Office.
The establishment of SIEITI aims to improve revenue collection, enhance transparency and strengthen governance in the mining sector.
Mining activities have significantly increased, rising from one licensed company to seven.
“The Customs & Excise Division reports that export duty from minerals grew from $13.9 million in 2023 to $22.8 million in 2024,” Mr Mckinnie said.
“This growth highlights the urgent need for effective governance, licensing, and reporting mechanisms,” he added.
As part of the preparations, the Government will form a Multi-Stakeholder Group (MSG), which will include representatives from government, industry, and civil society. The MSG will oversee the implementation of SIEITI, ensuring accountability and transparency.
Benefits of EITI Membership:
- Public Financial Management – Provides accurate data for monitoring government revenue and tax collection.
- Investment Promotion – Enhances investor confidence by reducing risks in the mining sector.
- Accountability & Transparency – Demonstrates the Government’s commitment to responsible resource management.
- Public Trust & Stability – Helps manage public expectations and fosters trust among stakeholders.
The MoFT Economic Reform Unit, MMERE, SMDAP Project, Consultant George Kosui and other stakeholders were actively engaged in creating the SIEITI application and implementation plan.
By EDDIE OSIFELO
Solomon Star, Honiara
