Rio Tinto at the cross-roads
Faced with massive debt, the world’s oldest multinational mining company now has the opportunity to salvage its damaged reputation. But will it do so?
At the beginning of this year Rio Tinto was the world’s second biggest mining company by market capitalisation.
But, last week, it suffered the biggest fall in share price – and possibly credibility [...]
Bangladesh: Overwhelming thumbs-down given to UK mining project
UK Mining’s “2008 AGM Season” ends this week, as London-listed GCM Resources (formerly Global Coal Management, and previously Asia Energy plc) defends one of the most criticised mining proposals of recent years: the Phulbari coal mining project in northwest Bangladesh. Two independent reports, to be distributed at GCM’s annual general meeting, reveal critical flaws in [...]
GCM Resources plc Phulbari Project: summary of concerns
“We are poor and where shall we stand if they snatch the land away from us? We don’t want the open coal mine even at the cost of our blood.”
Srimati Murmu, from the Santal community of Phulbari, 26 November 2007
A complex project in a complex setting
GCM’s Phulbari coal project is a proposed open-pit coal mine [...]
GCM’s Phulbari project roundly condemned
Nostromo Research (London) has published a devastating critique of one of South Asia’s biggest proposed mining projects – London-based GCM Resources plc’s Phulbari Coal mine in Bangladesh.
GCM Resources’ Annual General Meeting will take place in London on 16 December 2008.
Among the Nostromo report’s conclusions are that:
* The project threatens numerous dangers and potential damages, including [...]
