The scandal surrounding mining group ENRC is one of the worst to have ever hit the City. It has been under investigation by the Serious Fraud Office (SFO) for three years and that probe will heat up in the New Year as the role of Israeli billionaire Dan Gertler – said to be an inspiration for the movie Blood Diamond starring Leonardo DiCaprio – comes under the microscope.
The scandal surrounding mining group ENRC is one of the worst to have ever hit the City. It has been under investigation by the Serious Fraud Office (SFO) for three years and that probe will heat up in the New Year as the role of Israeli billionaire Dan Gertler – said to be an inspiration for the movie Blood Diamond starring Leonardo DiCaprio – comes under the microscope.
Management at the mining giant Rio Tinto have ambitions to take the technology of monitoring employees to another level – quite literally. Proud to have been at the forefront of various technical innovations in the employment field, the recently proposed surveillance program by the company’s management caused more than just a ruffling.
The Business & Human Rights Resource Centre had the opportunity to meet and talk with communities affected by the Rio Doce tragedy in Mariana and Gesteira/Barra Longa one year after it happened. The tragedy took place on 5 November, 2015 and was caused by the Fundão dam burst, owned by Samarco, a joint venture of Vale and BHP Billiton. At least 17 people were killed, and the burst has been described as the worst environmental disaster in Brazilian history.
A restart of operations is crucial for Samarco to reduce its debt, pegged at $3.7bn. The venture, which has had no cashflow since the accident, even missed in September an interest payment on a $500 million bond. Last month, a Brazilian court ordered BHP and Vale to pay an initial $350 million to help clean up what is considered the country’s worst environmental disaster.
