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Extractive Industry Association Dismisses Equatorial Guinea

Last week, the board of the Extractives Industries Transparency Initiative (EITI) decided to remove Equatorial Guinea - still merely a candidate for full membership - from the group for failing to meet the deadline to have audits of their industries independently verified. The EITI, launched in 2003, is a joint effort by companies, governments and civil society to instill transparency and promote good governance in the extractive industries sector.