June 1, 2015
Ottawa, Ontario
Natural Resources Canada
The Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Development Initiative for Northern Ontario, today announced that the Extractive Sector Transparency Measures Act (ESTMA) has come into force. Today’s announcement delivers on our government’s commitment with our G7 counterparts to enhance transparency and accountability of payments made by the extractive industry to all levels of government.
Canada is a secure, responsible and reliable producer and supplier of natural resources to the world. This multilateral mandatory reporting initiative will help to ensure that Canada's resource industries continue to prosper and to provide the broad economic benefits that are fundamental to Canada’s success. The implementation of this Act ensures that Canada remains at the forefront of international standards of transparency.
The Extractive Sector Transparency Measures Act received Royal Assent on December 16, 2014. After June 1, 2015, all extractive companies subject to the Act will be required to report payments including taxes, royalties, fees, and production entitlements of $100,000 or more to all levels of government in Canada and abroad.
Details of this legislation are consistent with the outcomes of last August’s annual meeting between federal, provincial and territorial ministers responsible for energy and mining, held in Sudbury, Ontario. Ministers agreed the Act would include a two-year deferral for reporting entities to report on payments made to Aboriginal governments in Canada – until June 1, 2017
