Latest News
In the shadow of the scandals surrounding Bumi plc, proposed ethics and human rights amendment to Financial Services Bill ‘blocked’
Following the accusations, recriminations and resignations surrounding Bumi plc and consequent calls by financial commentators for better regulation by the London listing authorities, activists and NGOs are calling on the government to explain to the UK investing...
Goat herders take on Rio Tinto demanding 'just compensation'
A group of Mongolian goat and camel herdsmen are taking on global mining giant Rio Tinto, claiming one of its mines – which produced gold for Olympic medals – have driven them off their ancestral plains. The herders are demanding ‘just compensation’ for the impact of...
Is Rio Tinto managing herders in “Oyu Tolgoi City” in the South Gobi region of Mongolia?
Rio Tinto bought in to the Oyu Tolgoi [or Turquoise Hill] copper-gold and coal project at the time when the first herders were moved out of their traditional pastures, with only money compensation offered, with the result that 50% of those evicted effectively had...
Rothschild told to give up £40m in Bumi
Influential Indonesian family the Bakries have called on financier Nat Rothschild to give up his 12 per cent shareholding in miner Bumi, worth more than £41m. See http://www.cityam.com/latest-news/rothschild-told-give-40m.
Bakries could take Indonesian assets back from Bumi
Separation would eventually leave Bumi, whose shares have tumbled after allegations of financial irregularity, back at square one as an investment shell. See http://www.guardian.co.uk/business/2012/oct/11/bakries-bumi-part-company-nat-rothschild.
South African mineworker strikes proliferate, with no resolution in sight
Long-term Investors in South Africa's mining industry are divesting from company stocks, according to the country's Business Day newspaper. Workers are extending their strikes to even more mines, and no resolution of the current, tension-ridden, impasse appears to be...
Bombed-out Bumi meets for update on financial scandal
Directors of Bumi, the bombed-out coal miner created by Nat Rothschild, will this week receive their first update on a scandal that is expected to lead to a radical overhaul of the company. See...
World Bank funding for mining projects blasted by UK group
Bretton Woods Project last week took issue with the International Finance Corporation (IFC). The UK-based NGO strongly criticised the World Bank's private lending arm over its backing for six mining projects, located in South Africa, Peru, Colombia, Mongolia and...
Is there a foreign conspiracy to impoverish Indians?
Vedanta Resources plc has been pummelled by numerous critics over recent years, not least by non-governmental organisation in the United Kingdom. That's surely appropriate, given the company was listed on the London Stock Exchange in December 2003 and is thereby...
Mongolia Keeping Rio Tinto Deal Puts Focus on Tavan Tolgoi Coal
Mongolia’s new government will ignore calls for the nation to take a larger share of Rio Tinto Group's Oyu Tolgoi copper and gold mine, focusing instead on attracting overseas investors to the country's biggest coal field, the foreign minister said. See...