Zimbabwe's Chamber of Mines has endorsed the Extractive Industry Transparency Initiative (EITI), meant to encourage and assist countries rich in natural resources, to report all payments being made by extractive companies to the Government; as well as all payments the Government has received from these companies.

According to an All Africa report, Chamber of Mines CEO Dr. Chris Hokonya said that "Transparency is critical. We don't know whether the Government will support EITI but the mining sector is willing to initiate a voluntary reporting system."

Countries worldwide were adopting EITI principles and internationally recognized reporting standards, to strengthentheir capacity to ensure an effective use of national resources and improve economic efficiency and growth as well as enhancing investor confidence, he said.

Launched in Johannesburg at the World Summit for Sustainable Development (WSSD) in 2002, the Extractive Industries Transparency Initiative is a multilateral, multi-stakeholder program that seeks to improve the governance of the extractive sector globally.

To date, some 30 countries have signed up as implementing countries to the EITI. Of the 30 implementing countries, 21 are African. Zimbabwe has not yet joined the EITI, nor has the Government indicated an inclination or intention to do so.

"The EITI process is a useful tool in augmenting the Government's efforts to improve existing structures on accountability and transparency.

"Successfully introducing the EITI process in Zimbabwe is critical to curbing corruption and unsustainable environmental practices," said Mutuso Dhliwayo, of the Zimbabwe Environmental Law Association (ZELA).

"Zimbabwe should join the Extractive Industries Transparency Initiative which other countries are joining to ensure that revenue generated from mineral resources is known by the public.

"This is done by making mining contracts public and making mining companies accountable. The initiative seeks to promote accountability and transparency in the exploitation of natural resources."