Villagers, sorely impacted by London-listed Vedanta's Tuticorin copper smelter in Tamil Nadu, have commenced an "indefinite fast" against its pollution of their water resources and air.
London-listed Vedanta Resources will be most impacted by the ruling. Vedanta stands to lose about $165 million, or about Rs 1000 crore, in revenue from the Supreme Court's decision, while its net profit fell 8.62% to Rs 2959 crore on 22.05% growth in total income to Rs 24,934 crore in Q3 December 2017 over Q3 December 2016.
In July 2015, London-linked Canadian mining company Gabriel Resources Ltd initiated a claim against the Romanian state before the International Centre for the Settlement of Investment Disputes (ICSID), alleging breach of obligations in its bilateral investment treaties and demanding $4.4 billion in damages for losses related to its stalled Rosia Montana gold mine project. Rosia Montana was supposed to become the biggest gold mine in Europe by means of open cast mining using cyanide. The government withdrew its support for the project in 2014.
Shares in London-listed Condor Gold jumped more than 5% in London on Monday after the Nicaragua-focused miner submitted an amended Environmental and Social Impact Assessment (ESIA) for a processing plant at its India gold project, which eliminates the need to resettle about 1,100 people. The change in the company's plans is likely due to massive community opposition to relocation.
The Alliance of Solwara Warriors, a growing group of communities and supporters from Madang, New Ireland, East New Britain, Manus and Milne Bay Provinces in Papua New Guinea, are submitting an objection to the Mineral Resources Authority today against another Nautilus exploration license in the Bismarck Sea. This is also supported by churches throughout PNG including His Eminence, Cardinal John Ribat who stand with these coastal communities as the "custodians of the sea". This is in conjunction with some powerful organising along the central west coast of New Ireland province with the villages that are living closest to Solwara 1 and the proposed new exploration licence. Warden hearings for the new exploration license will take place 20 & 21 March in three villages on the central west coast of New Ireland Province.