Bogota, July 9, 2018
As a member of the Extractive Industry Transparency Initiative (EITI), Drummond Ltd. applauds the ‘Satisfactory Progress’ certification obtained by Colombia because the country’s extractive sector (hydrocarbons and mining) meets international standards for resource management and accountability.
As expressed by the Ministry of Mines and Energy, Colombia is the first country in the Americas to achieve this certification, as confirmed by the International Secretariat of the EITI. Drummond has participated in this initiative since the year 2013, the same year in which the country also began its implementation process.
Drummond Ltd. joined the program in order to promote transparency and provide complementary support to the government’s control work, by facilitating access to factual and timely information for different audiences about income, contributions, and the impact generated by the energy-mining sector.
For Drummond Ltd., consolidating this information on financial, tax, and legal matters along with trends for the companies in the sector is essential for providing the public with new tools and knowledge to help promote participation.
Drummond will continue to provide the information necessary to keep reports updated in order to foster this initiative for responsible governance that promotes transparency, permits optimum resource management in the country, and generates greater trust by promoting informed participation on the part of the public.