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...
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...
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.
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.
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...
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...
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...
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’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...
A prominent leader of Burma’s pro-democracy movement has cited the country’s biggest copper mine as a leading example of the type of “development” which must be eschewed at all costs in future. Last month, a forum in Rangoon, attended by a wide...
New Zealand’s public pension announced fund that it has pulled out its investment, worth more than $1 million, from Freeport-McMoran Copper & Gold over concerns about allegations of human rights violations faced by the company at its Grasberg mine in West...
Environmental groups are calling for the Dominican Republic’s government to ban nickel mining at multinational resource group Xstrata’s Falcondo mine in the Loma Miranda area of La Vega province, because they feel it affects the country’s main water...
