* Executives says Trump stance conflicts with global trend
* Transparency provides "social licence" to operate-industry body
By Ed Stoddard
CAPE TOWN, Feb 9 (Reuters) - The expected demise oftransparency regulations for minerals and oil companies listedin the United States will not cloud the global drive forfinancial clarity in extractive industries, company executivestold Reuters at an Africa mining conference.
Efforts to shine a light on payments such companies make toforeign governments are considered key to eliminating graft,conflict and the so-called resource curse - the distressinglycommon failure of less developed countries to translate mineralwealth into wide prosperity.
The administration of U.S. President Donald Trump, however,has begun dismantling such transparency requirements.
Republican-controlled Congress last week repealed one suchrule and Trump also plans to issue a directive orderingsuspension of another that requires companies to disclosewhether their products contain "conflict minerals" from awar-torn part of Africa.
But companies with European Union and Canadian listings - orwhich work in countries that have signed up to the voluntaryExtractive Industries Transparency Initiative (EITI) - stillhave to abide by strict disclosure rules, executives say.
"Over half of our members would fall into this category,"the chief executive of the International Council on Mining andMetals (ICMM), which represents 23 leading mining companies,told Reuters.
Companies in this category include goliaths such as RioTinto and Anglo American, ICMM chief Tom Butleradded.
'SOCIAL LICENCE'
Butler was critical of the Trump administration's actions,but said they would not derail the broader global push forincreased transparency.
"It's disappointing because overall the global trend is inthe other direction. The train has left the station," saidButler.
"It is driven by investors and other stakeholders and thedesire of the industry to maintain its social licence tooperate. One way to maintain that is for everyone to see thatthe taxes and other payments the mining industry makes areapplied sensibly to the development of the country."
Nick Holland, chief executive of South African bullionproducer Gold Fields, which has a secondary U.S.listing, said that companies are not about to start alteringtheir behaviour.
"We're going the other way irrespective of the legislation.We're not going to suddenly start doing deals with illegalminers to buy their gold," he said.
That view is also supported by Vedanta ChiefExecutive Tom Albanese, who said that transparency builds trust.
"It allows for Vedanta to have a richer conversation withhost governments around the world and makes the job of the chiefexecutive easier in terms of engaging with host governments andstakeholders, which is one of the biggest challenges a miningCEO faces right now," he said. (Additional reporting by Barbara Lewis; Editing by JamesMacharia and David Goodman)
