Business needs to take its share of responsibility for openness and help ensure the mineral wealth of developing countries is “a blessing rather than a curse,” said PM David Cameron.
See http://www.mineweb.com/mineweb/content/en/mineweb-fast-news?oid=189785&sn=Detail.…
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Trillions of dollars a year are being produced through extractive industries, but just a tiny percentage of this money is impacting on the lives of poor communities in developing countries, according to a first-of-its-kind study.…
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Africa’s biggest copper producer, Zambia, is planning to repatriate foreign currency made from exports back to the country in an effort to crack down on tax evasion, mainly in the mining sector, reports Financial Times.…
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Privately-owned Stemcor says it is “the world’s largest independent steel trader”, playing “a pivotal role in the steel industry, acting as a trading intermediary and value-adding service provider. Our end-to-end services span every step in …
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Mongolia plans to start charging interest on allegedly unpaid tax owed by Rio Tinto Group’s Oyu Tolgoi LLC, as talks continue over the future of the $6.6 billion copper and gold mine, the nation’s mining …
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UK firms are to be forced to reveal where they pay tax. The Financial Mail on Sunday found that Vedanta paid nothing in UK tax last year despite profits of £1.1 billion. Company Chairman Anil …
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Alternative Mining Indaba 2013
Civil society representatives gathered in a parallel event to South African’s Mining Indaba in Cape Town in early February. The official gathering styles itself as the “world’s largest mining investment conference.” …
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Washington-based group, Global Financial Integrity, in its report revealed that more than £5 billion (K40 trillion) had been illegally siphoned out of Zambia over 10 years, with most of it ending up in offshore banks …
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EU politicians vote for tough oil, gas anti-corruption law
European Union legislators have voted for a draft anti-corruption law, echoing rigorous U.S. rules to make oil, gas and mining firms declare payments they make in …
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But will they lead anywhere?
Among London-listed companies active in South Africa are Anglo American, AngloGold Ashanti, BHP Billiton, Coal of Africa Limited, Rio Tinto and Xstrata.
See http://www.minesandcommunities.org/article.php?a=11781.…
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For a little over a decade, multinational mining companies have been scouring the Upper Peninsula of Michigan, looking for economic deposits of precious metals, uranium, and other minerals. Rio Tinto is the first company to …
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The Labor-held federal Australian government recently presented its much-awaited 2012 budget. And what a mess of potage it turns out to be! According to Rob Burgess of the Business Spectator, the country’s mining sector “currently …
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