Source: The Wall Street Journal blogs                Date: 27 October, 2010

Mongolia and Ghana have received “compliant” status from the Extractive Industries Transparency Initiative, a corporate, civil society and government-composed group devoted to increasing financial disclosures in the oil, gas and mining industries. The group requires an independent assessment of a country’s disclosure and reporting practices in order to become a compliant state.

Mr. Peter Eigen, chair of EITI, said in a statement, “Since committing to the EITI in 2005, Mongolia has published payments from its extractive sector in three excellent EITI Reports…This allows all stakeholders in Mongolia to monitor one of the most important sources of government revenue, and to monitor an industry that is transforming Mongolia’s economy.”