A European Union plan to label Canadian tar sands oil as highly polluting as part of its fight against climate change has been abandoned after years of opposition from Canada, clearing the way for exports of tar sands crude to the European market.
Chile’s Supreme Court has halted the development of the El Morro gold and copper mine owned by Canada’s Goldcorp, saying that local indigenous groups who oppose the $3.9 billion project need to be better consulted. Goldcorp is a Canadian company with British investment. Among Goldcorp’s major investors are British-based AXA Investment Managers UK Ltd., Blackrock Commodities Income Trust plc and City Natural High Yield Trust plc.
Chile’s Supreme Court has halted the development of the El Morro gold and copper mine owned by Canada’s Goldcorp, saying that local indigenous groups who oppose the $3.9 billion project need to be better consulted. Goldcorp is a Canadian company with British investment. Among Goldcorp’s major investors are British-based AXA Investment Managers UK Ltd., Blackrock Commodities Income Trust plc and City Natural High Yield Trust plc.
BHP Billiton’s carbon bill, caused by its coal mining, is doubtless to be condemned – and no doubt will be at its forthcoming AGM in London. But the companys most profitable asset is its iron ore operations in Australia. Now it’s planning to expand these mines even further – despite the market price of iron ore recently falling to its lowest point since 2012.
While all appears relatively quiet at the site of Glencore’s proposed Tampakan mine, it looks like Glencore’s junior partner, Indophil, may finally have managed to bail out of the project by selling its interest to the local Alsons Group. If concluded, this will give a greater share to traditional politicians (trapos), and that may not be a good thing for local communities who are already under severe pressure.
