News Archive

Chilean court scraps Barrick’s Pascua Lama fine

A Chilean court has annulled the record-breaking fine imposed by a local regulator on Barrick Gold Corp for damage caused by its Pascua Lama gold-silver project, saying the original court documents were riddled with "errors and illegalities". But operations at Pascua-Lama must remain suspended while Barrick improves water management systems at the US$8.5 billion project on the Chilean-Argentinian border. Barrick is a Canadian company in which there is major British investment.

Sierra Leone: Mining Boom Brings Rights Abuses – African Minerals accused

A 96-page report from Human Rights Watch, "Whose Development?: Human Rights Abuses in Sierra Leone's Mining Boom," documents how the government and London-based African Minerals Limited forcibly relocated hundreds of families from verdant slopes to a flat, arid area in Tonkolili District. As a result, residents lost their ability to cultivate crops and engage in income generating activities that once sustained them. Police carried out a bloody crackdown in the town of Bumbuna in April 2012 to quell a protest by workers who went on strike after being barred from forming a union of their own choosing.

Posco steeled for trouble

Posco's proposed steel plant near Paradip in Odisha, India, seems to be plagued by conflict. Recently, the supporters of the project have taken up to agitation against Posco alleging non-fulfillment of promises made by the company and the local administration. While the movement opposing the project has delayed its execution, this fresh agitation by supporters has become another problem for Posco and the Odisha government. British-based investors in South Korean company Posco include Barclays, Alliance Bernstein/Alliance Bernstein Global Wealth Management, Foreign and Colonial Investment Trust PLC, and Henderson Far East Income Limited. (Photo: AFP)

Scientists call for tougher treaty on deep sea mining to protect the oceans

A new treaty could be used to police the expected rise in deep-sea mining. It could also ensure that gains from marine genetic resources are fairly shared. Capacity building is needed to help developing nations exploit their resources. London-listed Nautilus and Canadian company Neptune, in which Anglo American is a major shareholder, are among deep sea mining's front-runners.

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