Glencore had booked cash of almost $15 billion from coal mining in Australia in the past three years and had effectively paid zero tax. They make roughly $5 billion a year from copper, zinc and nickel too, but we’ll stick with coal today as it would take another two weeks to dig out the rest of the accounts.
The bill on measures related gold-silver ore exploitation at Rosia Montana and to stimulate and facilitate the development of mining activities in Romania, also known as the “special law” was rejected today by Romania’s Lower House with 301 votes “for”, 1 vote “against” and 3 “abstentions.“ This marks the final rejection of a bill initiated by the Ponta Government which sent it for debate to Parliament last September 2013. Gabriel’s latest attempt to see its proposal realized has again failed. (Gabriel Resources is a Canadian company whose Romanian subsidiary has offices in London.)
I am appalled that BCL [majority owned by Rio Tinto] is still claiming ownership of mining tenements in Bougainville as governed by the Bougainville Copper Agreement Act. ABG must fight to repeal this oppressive, medieval document that sanctions a foreign company to take that which does not belong to it. It is an Act of law that violates the rights of the indigenous people of Bougainville and has no place in this modern day and age of liberalized thought and deed. I strongly appeal to President Dr. John Momis and the Autonomous Bougainville Government to cut off its ties with BCL immediately and for once support the people who gave the Bougainville government the mandate to pursue their interest and not the interest of BCL.
Proposed changes to mining laws on on the island of Bougainville in Papua New Guinea may adversely affect rights held by unit of Rio Tinto Group (RIO), the world’s second-biggest mining company.
Protestors dressed as bankers will hand out lumps of coal disguised as luxury chocolates – fossil rochers – while others will hold placards reading ‘RBS out of coal’. RBS invests more in coal mining worldwide than any other UK bank, providing the industry with more than £4 billion since 2005. It ranks eighth of all banks globally for its financing of coal. The protest is being organised by Friends of the Earth Scotland, Banktrack and LMN member group WDM.
