Tag Archives: aluminium

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

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 1st 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 ebook high res

Or low resolution version for slow download speeds: Vedanta’s Billions ebook 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 22nd May this year, their 100th 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.

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

Vedanta’s 2017 AGM again disrupted by protests

Anil Agarwal at Vedanta AGM protest 2017, London14th August 2017. Loud and theatrical protests were again held outside the AGM of British mining company Vedanta Resources’ at the Lincoln Centre, Lincoln Inn Fields, London at 2pm today accusing the company of major environmental and human rights abuses across its operations. Parallel protests and meetings were held today by affected communities and their supporters at several locations in India and Zambia. Inside the AGM, dissident shareholders asked questions on behalf of Zambian villagers who are suing Vedanta in the UK for twelve years of polluted water, as well as tribal inhabitants of the Niyamgiri hills in Odisha, India who accuse Vedanta of murdering and harassing them with state collusion.

Please see the video of today’s protest in London!

and excellent photos from Peter Marshall here.

Coverage on Xinhau news: Environmental protesters picket annual meeting of mining firm Vedanta.

Dissident shareholders in London poured scorn on Vedanta’s 2017 Annual Report, which claims that the company ‘demonstrate world-class standards of governance, safety, sustainability and social responsibility’. They say it represents a poor attempt to don the ‘cloak of respectability’ of a London listing noting that Vedanta was again excluded from the Norwegian Pension Fund’s investments this year following an investigation which found “numerous reports of Vedanta’s failure to comply with government requirements” at four subsidiaries in Odisha, Chhatisgarh, Tamil Nadu and Zambia. The report concludes, “there continues to be an unacceptable risk that your company will cause or contribute to severe environmental damage and serious or systematic human rights violations.”

Vedanta AGM protest 2017, LondonOn Sunday farming communities living downstream of copper mines run by Vedanta subsidiary Konkola Copper Mines (KCM) in Chingola, Zambia, held a meeting in Hippo Pool to renew their resolve in their twelve year struggle against the company for severe water pollution which has caused major health problems, and rendered land uncultivable. Police had refused them permission to hold a protest. Government officials visited their villages in Spring this year asking them to drop their London case against Vedanta and settle out of court with the company. The Headmen of Hippo Pool village submitted this statement to the Vedanta board and shareholders which was asked by Shoda Rackal from Women of Colour in Global Women’s Strike:

The people here are sick and tired of pollution which is killing us through illness and loss of our crops and fish. The pollution must end at all costs. Whether we receive compensation or not, we are asking you to stop polluting us now.”

Continue reading Vedanta’s 2017 AGM again disrupted by protests

Global day of action against Vedanta’s AGM

Red paint spilled in the entrance to Vedanta's 2012 AGM
Red paint spilled at the entrance to Vedanta’s 2012 AGM

The annual Global Day of Action against Vedanta will take place on Monday 14th August 2017, as their AGM is conducted in London.

While the Vedanta board try to don the ‘cloak of respectability’ of their London listing, communities affected by the company’s pollution, human rights abuses and tax evasion around the world will raise their voices through protests and reports showing the true face of this deadly British mining company. As usual we will bring the defiant energy and demands of these communities to London, in our theatrical protest outside the London AGM, and shareholder activism inside it.

JOIN US OUTSIDE VEDANTA’S LONDON AGM WHILE COMMUNITIES PROTEST ACROSS AFRICA AND INDIA!

Monday 14th August 2017, 2 – 4pm .
The Lincoln Centre, 18 Lincoln’s Inn Fields, London, WC2A 3ED

Bring drums, placards and loud voices.

Please join our Facebook event page if you can come to London on 14th August.

More info on why we are protesting Vedanta’s 2017 AGM below:

Continue reading Global day of action against Vedanta’s AGM

‘A nice place to work in’? Experiences of Icelandic Aluminium Smelter Employees

A worker at Alcoa's smelter
A worker at Alcoa’s smelter

This special report by Miriam Rose originally appeared on Saving Iceland website.

In 1969 the first of three aluminium smelters was built in Iceland at Straumsvík, near Hafnafjörður, on the South West side of Reykjavík by Alusuisse (subsequently Rio Tinto-Alcan). In 1998 a second smelter was constructed by Century Aluminum (now a subsidiary of controversial mining giant Glencore), at Hvalfjörður near Reykjavík, and in 2007 the third, run by Alcoa, was completed at Reyðarfjörður in the remotely populated East of the country. The Icelandic Government had been advertising the country’s vast ‘untapped’ hydroelectric and geothermal energy at ‘the lowest prices in Europe’ hoping to attract jobs and industry to boost Iceland’s already very wealthy but somewhat fishing dependent economy. The industry, which would permanently change Iceland’s landscape with mega-dams, heavy industry scale geothermal plants and several kilometer long factories, was promoted by the Icelandic Government and the aluminium companies as ‘good employment for a modern age’. However, ten years after the flagship Alcoa Fjarðaál project was completed, unemployment is higher than it was in 2005, and Iceland’s economy has become dependent on an industry which is vulnerable to commodity cycle slumps and mass job losses. Worse, the price charged for Iceland’s energy is tied to the price of aluminium and analyses of the country’s 2008/9 economic crisis suggest it was exacerbated by the poor terms of Iceland’s late industrialisation. Yet demands for further industrialisation remain, and more than 1000 Icelanders are employed in the aluminium sector.

This article exposes the conditions inside Iceland’s aluminium smelters based on interviews with workers conducted in 2012. The stories from two smelters share correlating accounts of being forced to work in dangerous conditions under extreme pressure, and without adequate safety equipment, leading to serious accidents which are falsely reported by the companies. These shocking allegations require serious attention by the trade unions, Icelandic government and health and safety authorities. This especially in the current context of labour disputes with the aluminium companies, alongside revelations about the same companies’ tax avoidance schemes and profiteering in the country.

Continue reading ‘A nice place to work in’? Experiences of Icelandic Aluminium Smelter Employees

Global days of action against Vedanta’s 2015 AGM

AGM 2015 flyer excerpt Join us for the 11th annual Global Days of Action against Vedanta Resources and its subsidiaries.

On Monday the 3rd of August we will hold a loud and colourful demonstration outside Vedanta’s Annual General Meeting in London in solidarity with the many communities suffering pollution, illness, oppression, displacement and poverty as a result of Vedanta’s operations.

In the days leading up to this event communities suffering from Vedanta’s operations across India and Afrika will hold rallies and meetings as part of the Global Days of Action against Vedanta. News of these protests will be spread via press and social media and shared between affected communities who are joined in this global movement opposing this careless corporate, and all profit-driven corporates colonising and polluting our planet.

Join us in London with drums and placards on Monday 3rd of August, 2pm at Ironmongers Hall, Barbican, EC2Y 8AA.

Download the AGM 2015 flyer here.