Universities Superannuation Scheme faces ethical dilemma over strip-mining operation
Investment by the Universities Superannuation Scheme in a British mining company could damage an ancient forest sacred to an Indian tribe, activists say.
Survival International, a charity that supports tribal peoples, has been lobbying the main pension provider for academics to pull its investment from Vedanta for two years.
The company plans to open a bauxite mine [...]
Vedanta takes on critics of mining at India tribal site
London-based resource giant Vedanta has decided to take on its critics who have been attacking from all sides over its plans to mine an area in India held sacred by a tribal group.
See http://news.yahoo.com/s/afp/20100304/wl_sthasia_afp/indiabritainminingvedantarights.
Vedanta raises Rs 17,000 crore debt for Orissa project
Vedanta Aluminium, a subsidiary of the billionaire Anil Agarwal-promoted Vedanta Resources, has raised a Rs 17,000-crore debt for its ongoing project in Orissa to increase its fully-integrated aluminium smelting capacity. (One crore is equivalent to ten million. 17,000 crore rupees is equivalent to nearly £2.5 billion sterling.)
See http://www.business-standard.com/india/news/vedanta-raises-rs-17000-cr-debt-for-orissa-project/386782/.
New PLATFORM report reveals RBS is UK bank most involved in financing loans to tar sands companies
Tar sands extraction in Canada is devastating Indigenous communities, wildlife and vast areas of boreal forests, as well as being many times more carbon-intensive to produce than ‘conventional’ oil.
“We are seeing a terrifyingly high rate of cancer in Fort Chipewyan where I live. We are convinced that these cancers are linked to the Tar Sands [...]
Two analyses of developments in the mining industry by Barry Sergeant of Mineweb
Both articles analyse the relative strengths and weaknesses of companies across set time-frames. The first of them deals with how much companies have returned to investors over the last decade of the so-called ’super-cycle’. Note BHP Billiton led by returning almost $30 billion to shareholders, followed by Ango American at $20 billion. The second reviews [...]
keep looking »
