Canada is the home of even more mining companies than London, though more mining finance is raised in London than on the Toronto Stock Exchange. Efforts to rein in Canadian companies overseas have made progress – but the latest attempt to pass legislation in Parliament was narrowly defeated.
Vote on Bill C-300 Signals Strong Momentum Towards Regulation of Canadian Mining Industry Overseas
MiningWatch Canada Release, 28 October 2010
Ottawa – The narrow defeat in the House of Commons of Bill C-300, the “Responsible Mining Act”, marks a significant turning point for the country. In spite of an unprecedented and sustained year-long lobbying effort by the mining industry aimed at defeating the Bill, the close vote reflects the degree to which legislators have come to understand the need to regulate the activities of Canadian mining companies operating internationally.