The Canadian Friends of Burma (CFOB) is deeply concerned by reports that Export Development Canada (EDC), a state owned Crown corporation, intends to give as much as half a billion dollars in public subsidies to Ivanhoe Mines and its Chairman Robert Friedland for a controversial mining project in Mongolia. EDC’s apparent willingness to support Ivanhoe comes despite the fact that CFOB has obtained evidence that the Vancouver based firm violated Canadian sanctions by allowing its stake in Burma’s largest mine to be sold to blacklisted cronies of the Burmese regime.
Ivanhoe is 30% owned by Rio Tinto.