Zambia’s people are blessed with copper. Yet with one doctor per 10,000 people and life expectancy a mere 47 years, who’s benefitting from the wealth beneath their feet? As with countless countries around the world …
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Act now on company openness
Glencore is accused of tax evasion in Zambia but goes for London Launch
Last week Switzerland-based Glencore – the world’s biggest minerals trader – announced it would seek a listing on the London and Hong Kong Stock exchanges in mid-May.
Amid the issues being raised about the firm’s …
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Four Vedanta unit miners die in Zambia accident
Four miners have died following an accident at Zambia’s Nchanga open pit mine, owned by London-listed Vedanta Resources, police said. Copperbelt police commanding officer Martin Malama said in an interview that police had retrieved three …
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Vedanta: serial offending in Zambia too?
In November of last year, Vedanta’s Zambian subsidiary Konkola Copper Mines (KCM) was fined in court for polluting the very river it had poisoned four years earlier in the north of the country.
In November …
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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 …
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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 …
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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 …
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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. …
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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 …
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Vedanta: Risks to banks
At a September seminar in London with investors in Vedanta, mining researcher Roger Moody of Nostromo Research gave the following paper on risks to banks from investments in the company.
Roger has 26 years experience …
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