It came down to the wire, but BHP, Vale SA and their Samarco joint venture managed to close a deal with prosecutors that distances the companies from 175 billion reais ($53 billion) in lawsuits.
Ahead of the High Court hearing, two of the Peruvians taking a claims against Xstrata Ltd (London) and its Peruvian subsidiary, Xstrata Tintaya S.A., arguing the companies should be held liable for alleged human rights violations perpetrated by the Peruvian National Police.
The company claims Africa to be the "largest untapped source of growth for our industry...providing us with the opportunity, in partnership with the east, to be part of the once-in-a-lifetime transformation story". So, metals and materials will be dug up on earth's poorest subcontinent, to serve the pretended needs of growing middle-classes in China, India, and elswhere in Asia. No surprise there - Rio Tinto has been doing much the same for over a century, while the Chinese state has become the company's pre-eminent shareholder. New markets may be radically re-targeted, but the colonial trope appears as much in evidence as ever - though now dressed up in more evocative and fancier clothes.
Seattle-based law firm Hagens Berman Sobol Shapiro LLP released a statement saying it filed a suit on behalf of purchasers of Rio Tinto American Depositary Receipts between Oct. 23, 2012 and Feb. 15, 2013 in the U.S. District Court for the Southern District of New York. The action has been filed against Rio Tinto and its former CEO Tom Albanese and CFO Guy Elliott over the value destroying acquisition of Mozambique coking coal assets in 2011.
Tanzanian and international human rights groups today urged Tanzanian president John Magufuli to address human rights issues at Acacia’s North Mara Gold Mine as part of the framework agreement with Barrick Gold Corporation, announced last week. The seven rights groups detailed their request in an open letter sent to the president.
The policy provides a distinctively Christian approach to investment in the extractives industries and is the culmination of theological reflection, expert input, public consultation and site visits to mine sites and communities over a 24-month period. It states that key ethical concerns in the extractive industries are not to be found in extraction in itself, but in business conduct including management of risk, the effects of operation on communities and national economies, and operating standards.
The digitalisation of production and the ‘Internet of Things’, referred to as Industry 4.0 in Europe, are being sold with the promise of ‘clean’ economic growth and resource efficiency in a time of converging eco-social crises. Powershift E.V., together with the Rosa-Luxemburg Foundation, The Gaia Foundation, and Yes to Life No to Mining, have just published a new fact sheet called The Dark Side of Digitalization: Will Industry 4.0 Create New Raw Materials Demands?
The Democratic Republic of Congo is among the world’s richest countries in terms of natural resources, but its people remain among the world’s poorest. The DRC’s mining sector has attracted billions of dollars in private investment, but people are not seeing this wealth.