16th March 2017. In its latest report, released on 9th March 2017, the Norwegian Council of Ethics has again excluded Vedanta from the Government Pension Fund’s investment universe. The report is an indictment of Vedanta’s pattern of operation at four subsidiaries in Odisha, Chhatisgarh, Tamil Nadu and Zambia, finding “numerous reports of Vedanta’s failure to comply with government requirements” and concluding that “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.”
The Fund first divested from the company in 2007 after Vedanta Sterlite’s operations in India — Thoothukudi, Chhattisgarh and Orissa — and in other parts of the world were found to be in violation of accepted human rights and environmental norms.
The Pension Fund is “the world’s largest sovereign wealth fund with shares in 9,000 companies. . .[and] 1.3 percent of the entire world’s listed equity, giving the decisions it takes to drop or reinstate shareholdings or warn firms considerable weight among investors.”
Read the Council’s full assessment of Vedanta’s operations below. Continue reading
5th August 2016 Protests have been held in India and Zambia in parallel with today’s AGM of British mining company Vedanta Resources’ at Ironmongers Hall, Barbican, London. Inside the AGM dissident shareholders asked incisive questions submitted by Zambian villagers who are suing Vedanta in the UK for twelve years of polluted water, as well as displaced farmers who were never compensated for their land in Lanjigarh, Odisha, India and accuse Vedanta of murdering and harassing them with state collusion. A loud protest organised by Foil Vedanta took place outside the meeting, demanding that Vedanta subsidiary Konkola Copper Mines publish its hitherto secret annual accounts in Zambia, and accusing the company of pollution, human rights abuses and financial mismanagement in India and Afrika.
See the video of the London demo here… and of the Delhi demo here.
Please see a full report on proceedings inside the AGM bu London Mining Network entitled ‘Vedanta’s 2016 AGM: evidence, evasion and arguments‘.
and coverage in The Mining Journal, the New International, and Reuters.
At Vedanta’s London AGM activists from Foil Vedanta interrupted the meeting asking incisive questions to the Vedanta board and gathered shareholders on behalf of the Zambian Copperbelt villagers living downstream of Vedanta’s Konkola Copper Mines (KCM), who are demanding an end to twelve years of pollution by KCM, which has turned the Kafue into a ‘river of acid‘ and left them with no access to clean water. They asked why KCM has never submitted annual accounts in Zambia in accordance with national laws, and whether Vedanta’s deliberately obstructive approach to compensation cases as revealed in a recent London judgement was company policy.
Dongria Kond leader Lado Sikaka speaking to press
7th June, 2016. A seven day padyatra (foot march) involving occupants of up to 112 of the remote villages of the Niyamgiri hills ended on Sunday in Jaganathpur (Lanjigarh). The padyatra, led by the Niyamgiri Suraksha Samiti and indigenous leaders from the villages, amplified demands to decommission Vedanta’s Lanjigarh refinery and celebrated the recent victory when the Supreme Court turned down Vedanta’s appeal to the decisive 2013 referendums which had put an end to mining plans on the mountain, as well as protesting the ongoing harassment from the company and the colluding state government and police forces. Various local and national Indian media covered the major event which ended in a large rally on World Environment Day, 5th June. The Orissa Post reported that:
Coming down heavily on the government, Loda Sikaka, a member of the Samiti, said the government has unleashed a reign of terror on the foothills of Niyamgiri by deploying platoons of paramilitary forces and special operation group japans.
CRPF and SOG jawans, instead of checking Maoist activities and providing security to inhabitants, kill poor tribals under cover of encounters. They misbehave with tribal women, loot their houses, domestic animals and poultries, lodge false cases against innocent people by branding them Maoists. The most worrying factor us that the government is conspiring to snatch the livelihood of tribals by leasing out the hills to Vedanta for bauxite mining.
The procession aimed at gaining public support against alleged anti-tribal activities of the government. It also aimed at urging the government to ensure sustainable development of the region while keeping the ecology intact.
The fighting is not limited to this specific region. It is a struggle of the humanity to protect nature and civilisation, Dadhi Pusika, another member of the Samiti, said.
14th May 2016. On May 21st the high profile Jaipur Literature Festival will take place in Southbank London with Vedanta as its key sponsor*. Foil Vedanta and Roundtable India have authored this open letter to the many renowned authors taking part, asking them to boycott the event in view of Vedanta’s criminal activities.** The letter has been signed by eminent writers, academics, activists and people directly affected by Vedanta’s criminal activities. A protest will also be held outside the event from 10am to 1pm at the Southbank centre, SE1 9PX, London.
*JLF have now removed Vedanta’s logo from their website. Please see the original page with Vedanta logo on the internet archive.
** Please see the update to this post as authors are pulling out.
modern technology: Australian iron ore being loaded onto ships
12th August 2015. This editorial on the ecological economics and social impacts of the global mining industry was published in the July/August edition of the socialist Hindi magazine Samayik Varta. Please click the link to read it in Hindi or download a PDF version of the article here: Prosperity or plunder? The real story behind the global mining industry
Prosperity or plunder?: The real story behind the global mining industry
Samarendra Das and Miriam Rose, Foil Vedanta
Foil Vedanta is a grassroots international solidarity group based in London. We aim to hold the FTSE 250 UK listed company Vedanta to account by building a global movement of communities opposing its operations, and using scholar activism to expose the real interests behind Vedanta and other mining companies. In 2014 our report Copper Colonialism: Vedanta KCM and the copper loot of Zambia, which followed our visit to Zambia, ignited protests and helped change Zambian mining policy.
A history of mining:
Scientists still don’t fully understand how the deposits of precious metal in the Earth’s surface were formed, but the most recent theory suggests that they were brought to the Earth by enormous meteors which smashed into the planet 200 million years after the earth formed (4.3 billion years ago). The earth’s crust is mostly made up of Oxygen (47%) and Silicon (28%), followed by Aluminium (8%) and Iron (5%). Other metals are much more rare; Copper makes up 0.01%, Zinc 0.004%, Lead 0.002%, Tin 0.001%, Thorium 0.001%, Uranium 0.0004%, Silver 0.00001% and Gold 0.000001%. Only a fraction of these percentages are to be found in densities which are economically viable to extract.
In other words, metals are a very rare and very precious resource on our planet, and are completely irreplaceable. However, in 2014, after only a century of industrial scale mining, the speed and scale of extraction of metals has become so immense that most metals are predicted to run out in the next few decades. For example between 1.1 and 1.3 billion tonnes of aluminium has been extracted historically (until 2014), and at the current extraction rate of 40 – 46 million tonnes per year the remaining 8 billion tonnes will be used up in 20 – 40 years.
3rd August Seven global locations in India and Africa held angry protests today and over the weekend opposing the activities of British-Indian mining company Vedanta while Vedanta’s AGM at Ironmongers Hall, Barbican, London was mobbed by a loud rally organised by Foil Vedanta, accusing the company of pollution, human rights abuses and financial mismanagement. In London a comical staged boxing match between Vedanta’s 69.6% owner and Chairman Anil Agarwal and new CEO Tom Albanese, revealed the company’s debt problems and internal dynamics while protesters chanted ‘Corporate criminal, shame on you!’ and drummed loudly. Vedanta’s share price has slipped 61% this year to 377p, and continues to dive as Q1 results show increased debt, and Cairn India minority shareholders oppose their attempt to merge with the oil and gas subsidiary to gain access to its $2.6 billion cash reserves for debt servicing.
See the film of London protests and more pics at Demotix..and here and here.
See coverage in the Economic Times of India, the Hindu Business Line, the New International , Odisha Channel , Odisha Sun Times and the Lusaka Times.
See an account of the AGM shareholders meeting here.
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.
7th February 2015 The New York Times has published an exposé of Vedanta boss Anil Agarwal as part of a series on the people behind shell companies buying up New York real Estate, entitled ‘Towers of Secrecy’ by Louise Story and Stephanie Saul. The section on Vedanta is copied below and the full article is highly recommended.
Like most Time Warner owners, Anil Agarwal, an Indian mining magnate, is anonymous in New York. While interviews and private documents reviewed by The Times confirm he is behind condos purchased by the Amantea Corporation for $9.1 million in 2004, his name appears nowhere on public records. The deeds for Amantea’s Time Warner condos — one on the “maids floor” and another with sweeping views of Central Park — are signed by a New York lawyer named Constance Cranch. When contacted, she said: “You cannot say anything with respect to me. It’s a client of mine’s apartment, and I pay their bills.”
For all the secrecy at Time Warner, Mr. Agarwal is hardly private about his wealth. He spends much of his time in London and told a newspaper in 2005: “I have to have a Bentley, the best of chauffeurs and butlers.”
But Mr. Agarwal and his company, Vedanta Resources, are known in some parts of the world for having left financial and environmental problems in their wake.
10th December 2014. Bangladeshi activists, in conjunction with a diverse group of environmental and left political activists in London, heckled the investors of Global Coal Management Resources with their noise demo and coal play yesterday. Activists blocked the entrance to the Aeronautical Society by dumping coal in the doorway. They surrounded GCMs’ CEO Gary Lye and his fellows who are aggressively moving ahead to implement a massive open-pit mine in Phulbari, the northwest region of Bangladesh. At the same time a delegation of protesters disrupted the AGM of GCM by questioning the investors inside the AGM about their fraudulent business in London’s Alternative Share Market (AIM).
The demo was organised by the UK branch of the National Committee to Protect Oil- Gas-Mineral Resources and Port-Power in Bangladesh, in conjunction with Phulbari Solidarity Group. The event was endorsed by Socialist Party of England and Wales, London Mining Network, World Development Movement, Occupy London, Foil Vedanta, Trade Unionists and Socialist Coalition, UK, and several community organisations including Nari Diganta, Swadhinota Trust, Udichi Shilpi Gosthi, Jubo Union, Friends of Chatro Union, Bangladesh Workers Party (UK branch), Bangladesh Communist Party (UK branch), and Bangladesh Socialist Party (UK branch).
A two day event bringing international activists and academics together to reflect on academic pursuit and forms of knowledge production, and establish working links between those working against the impacts of neoliberalism, the extractive industries, including damage to communities, ecology, democracy and governance.
Hosted by the Centre for World Environmental History (CWEH) University of Sussex.
Contact: firstname.lastname@example.org or BOOK HERE
Places are limited. Please book as soon as you can. Last booking date is 1 September 2014.