Vedanta in the frame for tax evasion
Around 160 multinationals profit from Mauritius’s status as a tax haven (Tax Justice Network gives Mauritius an “opacity” rating of almost 100%), in order to walk away with billions in undeclared profits. One of the worst of these is Vedanta Resource plc – Zambia’s biggest copper producer and among the wealthiest of UK mining companies. [...]
London Calling applauds condemnation of Vedanta
… and urges broader campaign against “criminal” company For the past six years, UK-listed Vedanta Resources has been castigated by Adivasi (Indigenous Peoples) groups, environmentalists and human rights organisations, for numerous alleged violations of Indian law. Hardly a month has passed when accusations of illegality – ranging from land encroachment to pollution, bribery and even [...]
Robbing Africans
An African faith coalition publishes a detailed examination of the ways in which citizens are defrauded of mining profits. The document refers particularly to AngloGold Ashanti, which has a subsidiary listing on the London Stock Exchange, and to Konkola Copper Mines, owned by Vedanta Resources. See http://www.minesandcommunities.org/article.php?a=9925.
Mining companies reject windfall tax
MINING companies have vehemently opposed the reintroduction of a windfall mining tax in Zambia despite the current boom in international copper prices, warning that raising taxation could plant uncertainty in future investments in the sector. Among the companies involved is London-listed Vedanta. See http://www.minesandcommunities.org/article.php?a=9844.
Zambian copper output to rise in 2010
Copper output is rising in Zambia again, but whether that will benefit the country or its people is a moot question. To quote the independent economic analyst in this article: “Agreements with the mines should quickly be renegotiated because the tax regime [is] more favourable to the foreign investors than the country”. But the recent [...]
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