Search results for "Glencore Xstrata"

Australia becomes world’s first developed nation to repeal carbon laws

Australia is one of the largest per capita greenhouse gas emitters due to its reliance on coal-burning power stations to power homes and industry. After almost a decade of heated political debate, Australia's Conservative government repealed a much questioned carbon tax on the nation's worst greenhouse gas polluters. Among UK-listed companies with coal operations in Australia are Anglo American, BHP Billiton, Glencore Xstrata and Rio Tinto.
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Gushing Glencore converts tax flow into tiny trickle

Glencore had booked cash of almost $15 billion from coal mining in Australia in the past three years and had effectively paid zero tax. They make roughly $5 billion a year from copper, zinc and nickel too, but we'll stick with coal today as it would take another two weeks to dig out the rest of the accounts.
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A taxing time for Philippines mining

The government of President Benigno Aquino has finally presented its much-heralded new policy on mine taxation for the Philippines. It claims it could make up to US$1 billion from the proposed revenue-sharing scheme, but - unsurprisingly - the Chamber of Mines of the Philippines has said the increase in taxes could kill the industry. The final policy still needs Congressional approval, and with the miners well-represented inside Congress it could make for an interesting debate. UK companies involved in the Phillipines include Glencore Xstrata and Metals Exploration.
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Lizards Revenge

Leaving Australia’s coal in the ground

There are some reasons for why Australian Prime Minister Abbott might need to worry that the worst is about to happen in his eyes - that Australian coal might be left in the ground unsold. The first one is the US government announcing a plan to reduce emissions from their power sector by 30 per cent by 2030. The other piece of news was Reuters reporting that He Jiankun, a professor at Tsinghua University and deputy director of China's Expert Committee on Climate Change, had said the Chinese Government would place an absolute cap on emissions in the next five-year plan. UK-linked companies mining coal in Australia include Anglo American, BHP Billiton, Glencore Xstrata and Rio Tinto.
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NGOs accuse Glencore of human rights violations

Swiss-based commodities giant Glencore “continues to place the maximisation of profits and the minimisation of its tax payments above respect for human rights and the environment”, according to a report by Swiss NGOs and aid agencies. PR or Progress? Glencore’s Corporate Responsibility in the Democratic Republic of the Congo was published on Tuesday by the Swiss Catholic Lenten Fund and Bread for All in collaboration with the British organisation Rights and Accountability in Development (RAID).
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Glencore’s Ruthless Cost-cutting Harms Communities in the Congo, Say NGOs

An in-depth study about Glencore’s Congolese mines (PR or Progress? Glencore’s Corporate Responsibility in the Democratic Republic of the Congo) published today (Wednesday, 18 June 2014) by the British human rights organisation, Rights and Accountability in Development (RAID) and two leading Swiss development agencies, Bread for All and Fastenopfer, finds that the company’s performance falls far short of international standards in a number of critical areas. Glencore’s CEO, Ivan Glasenberg, has told shareholders that the only concern of mine managers should be ‘to get products to the gate as cheaply as possible’. But poor communities living next to Glencore’s mines in the Democratic Republic of Congo (DRC) pay a heavy price for the company’s strategy for success.
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Peru mining boom leaves highlanders behind

SAN ANTONIO DE JUPROG, Peru (AP) — The Marzano-Velasquez clan lived a simple, pastoral life on a mountain that turned out to hold the world's largest known copper-and-zinc deposit. They didn't expect riches when they and dozens of other Quechua-speaking families sold out to an international mining consortium. But they did believe the open-pit Antamina mine would lift their long-neglected highlands district from poverty, provide steady jobs, decent health care and schools.
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