Mining companies accept country-by-country reporting is good for them

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Reuters Africa report:

JOHANNESBURG (Reuters) - Mining companies say they accept the thrust of new U.S. Securities and Exchange (SEC) regulations that will require them to disclose payments to foreign governments.

Executives speaking at the Reuters Mining and Steel Summit said enhanced transparency could help clean up the image of an industry with a shabby reputation.

"The greater the transparency the better it is for our company, the better it is for our industry, and so we're very supportive of that," Aaron Regent, the chief executive of Barrick Gold, told the summit.

The logic is getting through at last.

Country-by-country reporting benefits everyone in business, and civil society too.