Based on the financial data available at the Ministry of Finance, it has been concluded by MSG SR-EITI, that 4 companies of the oil sector and 3 companies of the mining sector, are considered material for these two sectors. Additionally, a group of small-scale gold miners associated in SHMR is added to the list since the 2016 reporting mainly because of the importance of the small-scale mining in the mining industry.

Mining companies

Consequently, the entities of the Gold Sector included in this report are:

Nr. Name of company
1. Rosebel Gold Mines N.V.
2. Newmont Suriname LLC
3. NV Grassalco (100% state owned entity)
4. A collective of 15 companies associated with SHMR
5. N.V. 1 (100% state owned entity)

Table 4.5 Reporting companies mining sector 2017

NV 1

Although NV 1 was not initially identified by MSG as a reporting entity within the scope of the SR-EITI 2016 reporting, the company has been included since for materiality reasons. Therefore, for SR-EITI 2017 NV1 is again included in the reporting for 2017. The payments made to NV1 by RGM will be disclosed in section 5.2.3.

Small and medium size companies (SHMR)

SHMR has 40 (forty) registered associates with 66 mining rights of which 29 are holders of the ‘Right to Exploration of gold and other minerals’, and 37 are holders of the ‘Right to Exploitation of gold and other minerals. All members are legal corporations, registered at the CC&I.

Out of the 40 companies associated with SHMR collective, 15 companies have committed to enter the SR-EITI Report 2017 -same as in 2016. They have agreed to authorize the Board of SHMR to represent them in the M.O.U. regarding the SR-EITI 2016-2017 report. These 15 companies are together holder of 8 rights to exploitation and 9 rights to exploration, where 2 companies hold both rights with different licenses.

The group that entered the SR-EITI-reporting cycle 2017 consists of the following companies:

Nr. Name of company
1. Augusta Mining
2. Brothers Goldmining NV
3. Cansur Goldmines NV
4. Caribbean Minerals Company NV (Cariminco NV)
5. China Mega Suriname Mining Investment Company NV
6. Eagle Resources NV
7. Gonini Mining Company NV
8. Nana Resources NV
9. Nature Beauty N.V.
10. NV Suriname Diamant Company
11. Roraima Stone Industries Ltd
12. Sarafina NV
13. Sarakreek Resource Corporation NV
14. U&T Group NV
15. Volcanic Resources NV

Table 4.6 Reporting companies within SHMR 2017

Oil companies

Consequently, the 4 entities of the oil sector included in this report are:

Nr. Name of company
1. Staatsolie (100% state-owned entity)
2. Kosmos Energy Suriname
3. Petronas Suriname E & P B.V.
4. Tullow Suriname B.V.

Table 4.7 Reporting companies oil sector 2017


The primary activities are exploration and exploitation of oil reserves, the refining and sale of crude oil and related products.

Secondary, Staatsolie is expected to improve and increase participation of third parties in the activities of Staatsolie to increase state income. In addition, the company is responsible for the sustainable development of expertise in the field of technology and management within the oil sector.

Staatsolie is the contracting party on behalf of the Government of Suriname with the contractors. Agreements with contractors are directly negotiated and signed by Staatsolie and furthermore Staatsolie performs oversight on the contractors.