Dentons

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Government of Canada updating on mandatory reporting standards for extractive industry

In April of this year, the government of Canada issued a consultation paper regarding mandatory reporting standards for extractive industry companies, requiring disclosure of payments to foreign and domestic governments. In the consultation paper, the government indicated that the proposed standards would apply to payments by extractive industry companies to domestic and foreign governments, including Aboriginal entities. The proposed reporting standards were the subject of a previous Dentons bulletin.

On 26 August 2014, the minister of natural resources, Greg Rickford, reiterated the government’s intention to implement the proposed reporting standards in the course of the next year, but announced that it had decided to defer by two years the requirement for extractive industry companies to report payments to Aboriginal entities…

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