Category Archives: News

Vedanta boss avoids last AGM as protests rage

October 1, 2018NewsAGM, Anil Agarwal, copper, Financial Conduct Authority, Foil Vedanta, KCM, London, Mining, Niyamgiri, Odisha, Pollution, protest, Samarendra Das, Sterlite, Supreme Court of India, Tamil, Tamil Nadu, Thoothkudi, Tuticorin, UK government, Vedanta, Vedanta Aluminium, worker's deaths, Zambialankoid

1st October 2018. Loud protests took place at the company’s last London AGM today. Company founder and Chairman Anil Agarwal was not present, creating uproar among protesters and shareholders. Vedanta Resources officially de-listed from the London Stock Exchange at 8am this morning. Inside the meeting dissident shareholders asked questions about the police shooting of thirteen protesters against Vedanta’s copper smelter in Tuticorin, Tamil Nadu in May. Another shareholder asked how much Vedanta spent on litigation or bribes, given the number of court cases they are tied up in at their various operations. Meanwhile a large contingent of Tamil people played traditional Parai drums and demanded ‘justice for Tuticorin’ outside the AGM.

See a video of the protest here…and here

See here for a full report on the AGM proceedings by London Mining Network: Vedanta AGM – a complete farce.

Coverage by Reuters here and on Moneycontrol here,and in The Hindu here,and Business Standard here, and on MSN here and Lusaka Times here.

Please download the report Vedanta’s Billions- Regulatory failure, environment and human rights , or low res version: Vedanta’s Billions- Regulatory failure, environment and human rights – LOW RES

Hours before the meeting a protest was held at Financial Conduct Authority (FCA) headquarters in Canary Wharf, demanding that British regulatory authorities do not let Vedanta flee the London Stock Exchange without being held to account. Representatives for FCA Directors were handed copies of a damning report ‘Vedanta’s Billions- Regulatory failure, environment and human rights‘ published by Foil Vedanta and a coalition of organisations days before. The report was described by Hywel Williams MP as ‘deeply concerning and disturbing’ and gives a comprehensive account of legal judgments against Vedanta across its global operations, blaming the City of London and FCA for failing to regulate or penalise the company, which is the latest in a long list of London miners linked to ‘corporate massacres’.

Reggae artist and activist Maiko Zulu in Lusaka

On Thursday 27^th September popular Zambian reggae artist and public figure – Maiko Zulu – was arrested outside the British High Commission in Lusaka, Zambia, holding a banner stating ‘Hold Anil Agarwal to account for Zambian crimes before de-listing’. Zulu gave this statement to the media, referring to the Vedanta subsidiary KCM’s pollution of the River Kafue, for which the landmark case of 1,826 farmers against Vedanta will be heard in London Supreme Court in January, as well as the Tuticorin ‘massacre’:

“Vedanta is being de-listed from the London Stock Exchange following serious crimes against indigenous people of India and the pollution of our own Kafue River which is a source of livelihood for thousands of peasants. The inequality that multinationals are creating can not be left unchecked and we will continue standing up and facing arrests for the good of our people. Our fellow protesters were shot at by police in India.”

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‘Vedanta’s Billions: Regulatory failure, environment and human rights’ – report released

September 27, 2018Newsaluminium, Anil Agarwal, bauxite, Cairn, copper, Displacement, Dongria Kond, Financial Conduct Authority, Foil Vedanta, Human Rights, India, Jharsuguda, KCM, Lanjigarh, London, MALCO, Mining, Niyamgiri, Niyamgiri Suraksha Samiti, Odisha, Orissa Mining Corporation, Pollution, protest, Samarendra Das, Sterlite, Supreme Court of India, Tamil, Tamil Nadu, Thoothkudi, Tom Albanese, Tuticorin, UK government, Vedanta, Vedanta Aluminium, worker's deaths, Zambialankoid

Foil Vedanta and a coalition of organisations have released a damning report ‘Vedanta’s Billions- Regulatory failure, environment and human rights‘ days before Vedanta Resources’ AGM and de-listing, described by Hywel Williams MP as ‘deeply concerning and disturbing’. The report gives a comprehensive account of legal judgments against Vedanta across its global operations, and blames the City of London and Financial Conduct Authority (FCA) for failing to regulate or penalise the company, which is the latest in a long list of London miners linked to ‘corporate massacres’. A protest will be held at the FCA headquarters in Canary Wharf at 11am on 1^st October, handing over a copy of the report and demanding that British regulatory authorities do not let Vedanta flee the London Stock Exchange without being held to account.

The full report can be downloaded HERE: Vedanta’s Billions- Regulatory failure, environment and human rights

Or low resolution version for slow download speeds: Vedanta’s Billions- Regulatory failure, environment and human rights – LOW RES

The report ‘Vedanta’s Billions’, released today, is a summary of legal judgments against Vedanta across its operations, revealing its abusive modus operandi, with special focus on illegal mining in Goa, pollution and tax evasion in Zambia, as well as illegal expansion and pollution in Thoothukudi, Tamil Nadu, industrial disaster at Korba in Chhattisgarh, land settlement and pollution issues in Punjab, displacement and harassment of activists in Lanjigarh, Odisha, and a mineral allocation scam in Rajasthan.

The report is being released days ahead of the company’s final London AGM and General Meeting, at which it plans to formally de-list from the London Stock Exchange. The move follows the police shooting which killed thirteen people, including women and children, on 22^nd May this year, their 100^th day of protest against pollution by Vedanta’s copper smelter in Tuticorin, India. The killing is being dubbed a ‘corporate massacre’ and led to the closure of the Sterlite copper plant. Vedanta’s de-listing plans were announced shortly afterwards amidst global protests against the company.

The report notes that Vedanta is now the latest in a string of London listed mining companies linked to the murder or ‘massacre’ of protesters, including Lonmin, Glencore, Kazakhmys, ENRC, Essar, GCM Resources, Anglo Gold Ashanti, African Barrick Gold and Monterrico Metals. As such, the report names the role of the City of London and the Financial Conduct Authority in ‘minimising the risks associated with Vedanta’s legal violations and human rights and environmental abuses’ and failing to investigate or penalise any London listed mining company on these grounds.

A protest will be held outside the FCA headquarters on the morning of the AGM on 1st October, demanding that the body finally investigates the company and holds them to account for the various crimes detailed in the report. The report will be handed to a member of FCA staff at the event.

The report concludes that;

“Some companies have de-listed due to a legitimate need to pursue long term company strategy, which may not be supported by shareholders’ emphasis on short term profitability. However in this case, Vedanta’s track record of human rights, environmental and financial violations, together with its already complicated financial structure, strongly suggests that de-listing is part of a policy to further limit public scrutiny of its operations.”

The report also includes a detailed diagram of Vedanta’s corporate structure, as it has evolved over the years, revealing the disproportionate number of shell companies registered in various tax havens, reflecting their opaqueness, contrary to their claim of being transparent.

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London protests condemn Thoothukudi Vedanta Massacre; Demand action in India and the UK

May 26, 2018Actions, NewsAnil Agarwal, copper, De-list, Human Rights, justice, London, massacre, Mining, police, Pollution, protest, Samarendra Das, solidarity, Sri Lanka, Sterlite, Stock Exchange, Supreme Court of India, Tamil Nadu, Thoothkudi, Tuticorin, Vedantaamaranth

26th May 2018 An angry protest took place today at the Indian High Commission in London. The people were condemning the police firing which killed at least 13 unarmed protesters at an environmental demonstration against British company Vedanta Resources’ copper smelter in Thoothukudi (Tuticorin), Tamil Nadu on Tuesday. There was a strong call from all groups present today to delist Vedanta from the London Stock Exchange, while Shadow Chancellor John McDonnell also sent a statement demanding that Vedanta is de-listed as a ‘rogue corporation’.

Recent updates on the ground situation in Tuticorin and ongoing UK protests are also included at the end of this post.

A large and diverse crowd gathered outside the Indian High Commission

There were many speeches and songs from the people today. They shared new information such as Sterlite’s donations to the Police control room in Thoothukudi and highlighted the parallels and called for solidarity with Gaza, Marikana and Kalinganagar massacres. The London protest was called by Foil Vedanta, Tamil People in UK, Periyar Ambedkar Study Circle, South Asia Solidarity Group, Tamil Solidarity, Parai Voice of Freedom and Veera Tamilar Munnani.

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The anti-Sterlite movement: Saga of a struggle

April 20, 2018NewsAnil Agarwal, copper, Corruption, Human Rights, India, Koodankulam, Pollution, protest, solidarity, Sri Lanka, Sterlite, Supreme Court of India, Tamil, Tamil Nadu, Thoothkudi, Tuticorin, Vedanta, worker's deathslankoid

Crowds throng at 24th March 2018 public meeting

20th April 2018. This detailed history of the anti-Sterlite movement by Ilangovan Rajasekaran was first published in Frontline magazine on April 17. Reproduced with permission of Frontline and the author here.

In Tamil Nadu’s Thoothukudi district, protests against Sterlite’s copper smelter plant get a second wind as local residents’ health and environmental concerns over the company’s expansion plan lead to the revival of a long-forgotten people’s movement.

PEOPLE of the port town of Thoothukudi (Tuticorin) in Tamil Nadu had never before poured out onto the streets in such large numbers as they did on March 24 in solidarity with the 100-odd residents of Kumareddiapuram who are waging a battle against the proposed Rs.3,500-crore expansion plan of Sterlite Industries (India) Limited’s giant copper smelter plant situated in the State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) complex that adjoins Kumareddiapuram and a few other villages.

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London and Tuticorin mass rally to ban Sterlite

March 24, 2018NewsAnil Agarwal, copper, Foil Vedanta, Human Rights, Koodankulam, London, Mining, Pollution, protest, solidarity, Sri Lanka, Sterlite, Supreme Court of India, Tamil Nadu, Thoothkudi, Tuticorin, Vedantalankoid

Anil Agarwal’s London mansion

24th March 2018 A noisy protest took place at 42-44 Hill Street in Mayfair, London, today, as British Tamils armed with traditional Parai drums joined with major demonstrations in Tuticorin in Tamil Nadu, India, against the expansion of British company Sterlite’s copper smelter in the State. The London protest, which took place at the $20 million home of company boss Anil Agarwal, was called by Foil Vedanta, Tamil People in UK and Parai – Voice of Freedom.

See a short video of the London protest HERE

Coverage in Hindustan Times – British Tamils protest outside Vedanta chief Anil Agarwal’s home in London

The News Minute – Can you hear the voice of UK Tamils? Sterlite protests outside Vedanta founder’s house in UK

Meanwhile in Tuticorin 250,000 people packed the streets for a major demonstration and public meeting organised by the Anti Killer Sterlite People’s Movement. Shutters on shops throughout the town were also down today following a total shutdown (bandh) called by The Merchant’s Association. This is the biggest protest yet against the Sterlite plant, and comes on the 40th day of continuous protest in the town, demanding that the plant is permanently closed and the expansion stopped. Permission for the protest was initially turned down by police but was successfully challenged by activists and granted by the High Court on 14^th March.

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From Lonhro to Lonmin – the British colonial state’s deadly extractivism

March 16, 2018NewsFoil Vedanta, London, Lonmin, Marikana, Mining, protest, Repression, solidaritylankoid

16 March 2018. The AGM of Lonmin Plc in London yesterday was met with angry protests as three delegates from Marikana in South Africa addressed crowds before attending the meeting. Families and victims of the Marikana massacre, in which 34 platinum miners were shot dead by private security and police while on strike in 2012, still have no apology, no compensation and no justice.

At a public meeting later that day, the delegates – Jo Seoka, retired Bishop of Pretoria; Thumeka Magwangqana from Marikana women’s organisation Sikhala Sonke (“We cry together“); and Andries Nkome, the attorney 275 arrested and injured miners – described in detail the chilling events of the massacre, and the traumatised and impoverished state of the community today.

The Farlam Commission into the killings have now proven that orders to take drastic action against the striking miners came from government level, including from Lonmin Non-Executive director and 20% shareholder Cyril Ramaphosa, who is now President of South Africa. Platoons of heavily armed police were ordered to the strike with a number of mortuary vans instead of ambulances, showing that there was calculated intent was to kill large numbers of people. Razor wire was spread out around the miners to prevent them from running into the townships, and instead funnel them into the line of fire.

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Thoothukudi residents resist Sterlite expansion

February 15, 2018Newscopper, Corruption, Foil Vedanta, India, Pollution, protest, Sterlite, Tamil, Tamil Nadu, Thoothkudi, Tuticorin, Vedanta, Zambialankoid

Children’s placards read: ‘Sterlite: mercy killers’

15th February. On Monday up to 500 people declared a hunger strike and indefinite protest against the planned expansion of Vedanta subsidiary Sterlite’s copper smelter in Thoothukudi (Tuticorin), Tamil Nadu. Two days into the protest police rounded up and arrested 270 people including many women and children, eventually releasing all except eight so-called ringleaders including social worker and Anti Sterlite Struggle Federation Coordinator Professor Fatima Babu, who are still being held by police. Large groups of school children and their mothers made up the majority of the protest. Their placards and statements to the media demand an end to years of toxic pollution from the plant, which is causing respiratory diseases and fainting, especially affecting the children, with long term consequences to their health. Water is also being polluted, and huge amounts used by the plant, in an already water-stressed area.
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London ruling awards Zambia $139 million from KCM

January 18, 2018NewsAnil Agarwal, copper, Foil Vedanta, KCM, Konkola Copper Mines, London, Mining, Vedanta, Zambia, ZCCM-IHlankoid

Lionel Persey QC passed the judgment against KCM

18th Jan 2018 In the third major London case against Vedanta subsidiary Konkola Copper Mines (KCM) since 2014, the English High Court on January 2^nd ordered KCM to pay $139 million plus costs to Zambian government entity ZCCM Investment Holdings (ZCCM-IH) for sums owed as part of a copper and cobalt price participation agreement dating back to 2004, when Vedanta took over the Zambian copper mine. ZCCM-IH is the 20.6% shareholder of KCM. In February 2013 various claims of non-payment against KCM were the subject of a Settlement Agreement in which KCM agreed to pay a total of $119 million to ZCCM-IH in two instalments. However they subsequently reneged on the agreement after paying only $19 million, forcing ZCCM-IH to take them to London courts. In the High Court’s January summary judgment a further $36 million was awarded for KCM’s further breaching of the Settlement Agreement by making payments to its parent company Vedanta Resources while the amounts due to ZCCM-IH were still outstanding. (Download the full judgment here)

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Fraud mining company GCM faces protests in London again

December 13, 2017NewsBangladesh, coal, GCM, Global Coal Management, London, Mininglankoid

12th December 2017. Despite the cold, a loud and theatrical protest was again held outside the AGM of British mining company Global Coal Resources Management (GCM) at the Aeronautical Society in 4 Hamilton Place in London at 10am today. In solidarity with the communities in Phulbari, where three people were shot dead as paramilitary officers opened fire on a demonstration of 80,000 people in 2006, protesters reaffirmed that they will not sleep until GCM is ousted from Bangladesh. A parallel protest followed by a press conference was held in Phulbari against the plans by GCM, an AIM-listed company who want to build a massive open cast coal mine by forcibly displacing 130,000 people in Phulbari, northwest Bangladesh. Inside the AGM in London, dissident shareholders asked questions on behalf of the communities in Phulbari and Dinajpur by accusing the company of human rights abuses as the CEO of the company has filed multiple arbitrary charges against 26 frontline defenders, indigenous farmers, small entrepreneurs and local leaders who opposed the mine.

A full report of the AGM proceedings from dissident shareholders can be found here: Flogging a Dead Horse: the 2017 GCM Resources AGM

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Fraud at the highest level: Tom Albanese and Guy Elliot may be banned from directorships

October 20, 2017NewsFinancial Conduct Authority, Guy Elliot, KCM, London, Rio Tinto, Tom Albanese, Vedantalankoid

Albanese with Zambian government ministers on behalf of Vedanta in 2014

20th October 2017. On Tuesday the Securities and Exchange Commission filed a fraud case against Rio Tinto and two of its executives Tom Albanese (until recently Vedanta’s CEO) and Guy Elliot for inflating the value of a misguided coal deal with Mozambique in 2011. Rio Tinto was immediately fined £27.4 million by the Financial Conduct Authority in the UK for breaching UK listing rules. Albanese and Elliot now face major fines for ‘ill gotten gains’ plus interest, as well as a ban on serving as directors of any public company.

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Albanese presided over multiple human rights violations while serving as Rio Tinto CEO, and was finally forced to leave in 2011 following the disastrous $44 billion dollar decision to merge with Alcan in 2007 that had written off $9 billion, followed by the failed Mozambique coal deal (see previous article on this website). Guy Elliot has exercised considerable influence over India’s mineral policy, telling Indian decisions-makers it should include a fast-track clearance procedure, and allow ‘security of tenure’, i.e. grant long-term lease rights to foreign mining companies in a speech at the India-UK Business Leaders’ Forum in June 2006.

Please read the Financial Times article: Rio Tinto charged with fraud in US and fined in UK for more information.