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Mineral-Rich Mongolia Rapidly Becoming ‘Mine-golia’

Richard — Wed, 23 May 2012 16:56:02 +0000

Mongolia, the land of Genghis Khan and nomadic herders, is in the midst of a remarkable transition. Rich in coal, gold and copper, this country of fewer than 3 million people in Central Asia is riding a mineral boom that is expected to more than double its GDP within a decade. The rapid changes simultaneously excite and unnerve many Mongolians, who hope mining can help pull many out of poverty, but worry it will ravage the environment and further erode the nation’s distinctive, nomadic identity. Much of the focus these days is on Oyu Tolgoi, a mega-mine in Mongolia’s South Gobi province, about 50 miles north of the Chinese border. The mine — owned by international mining giant Rio Tinto, Canada’s Ivanhoe Mines and the Mongolian government — is scheduled to produce its first copper ore in June and grow dramatically over the next five years.

See http://www.npr.org/2012/05/21/152683549/mineral-rich-mongolia-rapidly-becoming-minegolia.

Mongolia backtracks on state ownership of mining companies

Call it “resources nationalism” if you wish – or simply an attempt by government to secure the best possible returns from leasing out its mineral properties. In any event, political debate in Mongolia over terms of entry by foreign companies to its huge mining deposits, has wildly swung between extremes over the past few years. Now it seems that, if the present ruling party wins elections in June, all pretense at “capturing extractive wealth” for the people will have been virtually abandoned. This may be good news to Rio Tinto, involved at the Oyu Tolgoi copper-gold mine.

See http://www.minesandcommunities.org/article.php?a=11701.

VIDEO: Embera indigenous people say ‘no’ to Rio Tinto associate in Colombia

Richard — Wed, 23 May 2012 16:54:32 +0000

Careperro Mountain (“Haykatumá in the indigenous Embera language,) is one of the most sacred and important sites for the Embera culture. Beneath this mountain, lies gold, copper and other minerals. London-listed Rio Tinto is associated with the companies conducting exploration there.

See http://www.youtube.com/watch?v=750jClHAJmM&feature=BFa&list=UUu_aw9s-qZtPhkr8UnRB1_g.

For background, see http://londonminingnetwork.org/?s=mande+norte.

Protests threaten energy-hungry miners in Chile

Richard — Wed, 23 May 2012 16:35:40 +0000

Residents close to a proposed new coal-fired power plant in Chile’s Atacama desert region claim its emissions will harm air quality. They also say the temperature of water, released back into the ocean, will impact fish and marine life. The plant is designed to provide power to major copper mining projects, and the proposal is “seen as a litmus test for a string of other potential flashpoints in Chile”.

This article mentions, among others, Anglo American, BHP Billiton and Xstrata.

See http://www.minesandcommunities.org/article.php?a=11695.

London Calling muses on the future of Mining’s Giants

Richard — Fri, 11 May 2012 17:11:55 +0000

Two of the world’s three biggest mining companies – BHP Billiton and Rio Tinto – are currently “dialing down their risks and the pace of their previous dash for growth”. This is in order that they can “adjust to the evolving near to medium-term environment and…focus their spending on the projects with the strongest medium-term returns.” At least that’s the view of Stephen Bartholomeusz, one of the most astute commentators on the mineral industry.

See http://www.minesandcommunities.org/11679.

Rio returns to PNG

Richard — Fri, 11 May 2012 17:08:26 +0000

RIO Tinto has joined the growing ranks of major miners lured to Papua New Guinea. It did not make any grand announcements on the matter but has picked up at least three tenements.

See http://www.pngindustrynews.net/storyview.asp?storyid=8682927&sectionsource=s0…
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Xstrata pressed on record in Peru and Colombia

Richard — Fri, 04 May 2012 19:15:05 +0000

Representatives of communities affected by Xstrata’s operations in the Espinar region of Peru attended the massive London-listed mining company’s AGM in Switzerland on Tuesday 1 May. They called for compensation and a solution to the problem of water pollution around the company’s Tintaya and Antapaccay projects. Xstrata was condemned for lack of respect for the communities at Espinar.

Supporters of communities affected by the Cerrejon coal mine in Colombia (jointly owned with Anglo American and BHP Billiton) called for just resettlement agreements with affected communities, a halt to legal proceedings to take possession of the community of Roche, and abandonment of plans to reroute the areas only major river – echoing concerns raised at Anglo American’s London AGM on 19 April (see http://londonminingnetwork.org/2012/04/5590/).

A webcast of Xstrata’s AGM, including questions and answers, can be accessed at http://www.media-server.com/m/p/s88xdvn4.

See also Xstrata woos waverers to back $39bn Glencore deal, http://www.mineweb.com/mineweb/view/mineweb/en/page67?oid=150559&sn=Detail&pid=92730.

Bougainville Copper’s bloody “hidden past” exposed: Rio Tinto must address abuse claims, says criminologist

Richard — Fri, 04 May 2012 19:08:46 +0000

Debate continues raging over the role played by Rio Tinto’s subsidiary Bougainville Copper Ltd (BCL) in the decade-long war waged by Papua New Guinea “security” forces on the people of Bougainville from 1988 onwards.

One of the key proponents of the company’s innocence is major BCL stockholder, the highly-irascible Axel Sturm. In his latest broadside, Sturm accuses Ulster University criminologist, Kristian Lasslett, of using his “academic position as a platform for indoctrination and agitation.”

In fact Mr Lasslett’s critique of the company’s complicity in human rights abuses, during the first 15 months of the bloody conflict, is quite measured. And it’s based on compelling evidence which BCL shareholders – not to mention Rio Tinto itself – would do well to urgently address.

See http://www.minesandcommunities.org/article.php?a=11665.

See also BCL keen to reopen mine, http://www.thenational.com.pg/?q=node/32323.

Newmont Mining accused of multiple failures by shareholders

Richard — Fri, 04 May 2012 17:31:46 +0000

Critical shareholders took the world’s second biggest dedicated gold producer to task at its annual general meeting last week. They claimed the company had not implemented various promises to be “socially responsible”. Moreover, its failure to obtain the free, prior and informed consent of affected communities in Peru and elsewhere, had “turned into a reputational and financial liability for the company”.

See http://www.minesandcommunities.org/11657.

Newmont is a US company with British investment: among investors in Newmont are UK-based Blackrock World Mining Trust and AXA Investment Managers UK.

See http://moneytometal.org/index.php?title=Special%3ASearch&button=&search=newmont.

See also: Scientist calls Conga mining project an ‘environmental disaster’, http://upsidedownworld.org/main/peru-archives-76/3608-scientist-calls-peru-conga-mining-project-an-environmental-disaster-interview-with-reinhard-seifert.

Peru: Undermining Justice

Richard — Fri, 04 May 2012 17:28:57 +0000

If multinationals will do anything to control the public debate, how can indigenous peoples ever assert their rights?

See new film on Monterrico Metals by award-winning film-maker and LMN supporter Mikey Watts at http://www.aljazeera.com/programmes/peopleandpower/2012/05/20125311829466420.html.…
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London2012: an Olympian exercise in corporate greenwashing

Richard — Wed, 25 Apr 2012 14:30:50 +0000

Amidst its lofty rhetoric about excellence and sustainability the London Olympics have chosen some of the world’s most unethical companies as corporate sponsors. Phil England presents powerful first-hand testimonies from victims and campaigners dismayed and angry at this betrayal.

See http://ceasefiremagazine.co.uk/london2012-olympian-exercise-corporate-greenwashing/.

Vedanta’s PR Campaign Backfires in India

Richard — Wed, 25 Apr 2012 14:01:10 +0000

On a recent visit to Bhubaneswar, the capital of the large eastern state of Odisha, I found the airport plastered with advertisements and slogans expressing the nurturing, socially conscious side — caring for the poor, growth with inclusive values, creating happiness — of the many steel and aluminum companies that have major operations in one of India’s poorest but most mineral-rich and business-friendly states.

The most prominent voice in this cluster belonged to Vedanta, a London Stock Exchange-listed “globally diversified natural resources group with wide-ranging interests in aluminium, copper, zinc, lead, silver, iron ore, oil and gas and power,” headed by Anil Agarwal, one of India’s richest and most controversial businessmen.

Read about what the advertisements did not say…

See http://www.bloomberg.com/news/2012-04-24/mining-company-s-pr-campaign-backfires-in-india.html.

Peru’s Highest Court Sides With Central Government In Conga Case

Richard — Wed, 25 Apr 2012 13:47:02 +0000

Peru’s highest court has declared that the left-wing regional government of Cajamarca overstepped its bounds when it recently rejected the country’s biggest proposed mining project. However, a team of environmental auditors has criticised the existing mine plan, while Peru’s president has also acknowledged the need for Newmont to revise its proposals.

See http://www.minesandcommunities.org/article.php?a=11643.

Newmont is a US company with British investment: among investors in Newmont are UK-based Blackrock World Mining Trust and AXA Investment Managers UK. See http://moneytometal.org/index.php?title=Special%3ASearch&button=&search=newmont.

Toxic Bob Resigns as Rio Commits to Mongolia Mine Funds

Richard — Wed, 25 Apr 2012 13:36:45 +0000

Billionaire Robert Friedland resigned as chief executive officer of Ivanhoe Mines Ltd. (IVN) as the company struck a deal with its majority shareholder Rio Tinto Group (RIO) on funding for its $6 billion Mongolian copper mine.

See http://www.bloomberg.com/news/2012-04-18/rio-ivanhoe-sign-accord-on-mongolia-copper-mine-funding.html.

Massive Mongolian mine raises environmental fears

Richard — Wed, 25 Apr 2012 13:35:32 +0000

Buried in the Gobi Desert, Mongolia’s economic future rests on a massive mining project called Turquoise Hill. Known locally as Oyu Tolgoi, the copper and gold mine, co-owned by Vancouver-based Ivanhoe Mines Ltd. and the Mongolian government, is expected to balloon the Central Asian country’s GDP — an estimated $13.28 billion in 2011 — by more than 30 per cent when it starts full production later this year. But the economic boon is also, for some, an environmental nightmare as the project will allegedly soak up valuable water resources in the already-arid Gobi. While reports vary, the mine plans to use up to 920 litres of water per second.

Ivanhoe Mines is controlled by Rio Tinto.

See http://www.thestar.com/news/world/article/1159478–massive-mongolian-mine-raises-environmental-fears.

The greatest threat to Bougainville Copper’s future is its hidden past

Richard — Wed, 25 Apr 2012 13:33:38 +0000

Bougainville Copper Limited, or BCL, is a subsidiary of Rio Tinto.

Last month the President of the European Shareholders of Bougainville Copper (ESBC) Axel Sturm publicly raised concerns over the volatility of BCL’s share prices. In an interview with PNG Industry News, he blamed political uncertainty in Papua New Guinea for BCL’s current woes.

However, perhaps the ESBC’s President needs reminding, the greatest threat to BCL’s future remains its unacknowledged past. Despite revelations aired on SBS last year, which evidenced BCL’s complicity in the brutal security force operations on Bougainville, BCL and the ESBC continue to play down the company’s instrumental role in the conflict.

See http://ramumine.wordpress.com/2012/04/23/the-greatest-threat-to-bougainville-coppers-future-is-its-hidden-past/.