Former Rio Tinto’s head of iron ore business in China, Stern Hu, has been released Wednesday after spending nearly nine years in prison in Shanghai, following a 2010 conviction for corruption and industrial espionage.
IndustriALL, a global federation of trade unions, representing more than 50 million workers in 140 countries, in partnership with The Europe-Third World Centre (CETIM), submitted an official statement to the United Nations Human Rights Council (UNHRC) on 27th June 2018 on the violations of workers’ human rights by Glencore, the Anglo-Swiss commodities giant. The letter focussed on Glencore’s labour violations and human rights abuses in a number of countries.
Amid rising protests in the UK following the death of 13 people in May during violent demonstrations against its copper smelter in Tuticorin, Tamil Nadu, Anil Agarwal has decided to delist his flagship firm Vedanta Resources from the London Stock Exchange after buying out 33.5% of non-promoter shareholders for about $1 billion.
Billionaire Anil Agarwal added to a string of commodities deals with plans to buy out minority investors in Vedanta Resources Plc, the resources group that he’s seeking to transform into one of the world’s largest.
World’s No.1 miner BHP is selling its Cerro Colorado mine, its smallest Chilean copper operation, to EMR Capital Advisors Pty, an Australian private equity firm that invests in natural resources in a cash deal worth $230 million.
World’s second largest miner Rio Tinto said Monday it will begin developing its Koodaideri iron ore mine in Western Australia's Pilbara region next year, highlighting parallel plans to de-bottleneck rail capacity, which should increase it to 360 million tonnes per annum (mtpa) in 2019.
Miner and commodities trader Glencore (LON:GLEN) has settled a potentially damaging legal row with former business partner in Democratic Republic of Congo, Dan Gertler, by agreeing to pay royalties he is owed from copper and cobalt mines.