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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.
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The Government of Canada introduces legislation to implement the Extractive Sector Transparency Measures Act, following through on the announcement by Prime Minister Stephen Harper in June 2013 that Canada would be establishing new mandatory reporting standards for extractive companies directed at payments made to foreign and domestic governments at all levels, including Aboriginal groups. It is anticipated that XBRL will be the reporting format.