Britain took a big step towards the kind of transparency that will help businesses and investors everywhere know who they are dealing with. An agreement was reached between the UK Government, extractive companies and civil society which will see oil, gas and mining companies operating in the UK disclose their real, ultimate owners.
Timis’s Sierra Leone miner African Minerals Ltd. collapsed in March, leaving behind a trail of recrimination and multimillion-dollar losses from China to London.
“We welcome mining as long as they respect our way of life, our livelihood, our customary land. When they don’t, we’ll fight to the end,” says village headman Suwanto.
Residents of the village of Maruwei in Central Kalimantan, Indonesia, claim they were tricked and intimidated in relation to BHP Billiton’s acquisition of an area of their land for the first stage of the IndoMet coal project a decade ago.
Shares in Lonmin, the world’s third-largest platinum producer, dropped as much as 7.3% on Thursday as mining giant and commodity trader Glencore completed the distribution of its 23.9% stake in the South African miner to shareholders.
