Detailed reporting to regulatory authorities would be required at both project-level and country-level, starting from a minimum threshold of €80,000. That mark is almost identical to the $100,000 US requirement and considerably lower than the $1 million level some resource firms said was practical.
The proposed law is not a carbon copy of the US version, however. The EU intends to include the forestry, banking, construction and telecommunication sectors on a less detailed level than the extractive industries.
Non-governmental organizations enthusiastically endorsed the vote, though the draft rules will only become law following further deliberation and approval by EU member states.
