Tag Archives: Foil Vedanta

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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Call out – Last London AGM protest, 1st October!

September 24, 2018ActionsAGM, Anil Agarwal, Foil Vedanta, Human Rights, India, KCM, London, Mining, Odisha, protest, solidarity, Sterlite, Tamil, Tamil Nadu, Thoothkudi, Tuticorin, UK government, Vedanta, Zambialankoid

On 1st October Vedanta will hold their last AGM in London before de-listing from the London Stock Exchange, under pressure from MPs and activists following the Thoothukudi massacre in Tamil Nadu May.

At this final AGM, Foil Vedanta will be celebrating the notable victory of Vedanta’s de-listing (which seriously curtails their corporate ambitions), and the success of grassroots activism which has shut down Vedanta’s operations in Goa, Tuticorin and Niyamgiri, with a carnival theme.

Please join us to kick Vedanta out of London once and for all!

Bring drums, whistles and colourful flags and clothes!

Monday 1st October, 2-5 pm Lincoln Centre, Lincoln Inn Fields, London, WC2A 3ED

Decry the complicity of the City of London in Vedanta’s corporate massacre of 13 environmental protesters at Thoothukudi in May, the latest in a long history of corporate murders and massacres of activists by London mining companies.

Vedanta’s exit from London is in fact a ‘divorce of convenience’ for the City, who have totally failed to regulate Vedanta, or any other criminal mining company to this day.

We will also be releasing our report ‘Vedanta’s Billions: Regulatory failure, environment and human rights’ – which gives a comprehensive account of the company’s crimes at all of its operations, and the City of London’s complicity, on Thursday 27th Septmber, before the AGM.

On 1st October the company will also sign contracts for 41 new oil and gas blocks in India, where their subsidiary Cairn India (part of Vedanta Ltd) have already been using unconventional extraction methods (fracking) in Rajasthan.

If you are keen to ask questions inside the AGM as a dissident shareholder please get in touch and we will arrange a proxy share for you.
#KickVedanta #BanSterlite #BringAnilAgarwal2Justice

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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Victory for Zambian farmers suing Vedanta in UK

October 13, 2017Uncategorizedcopper, Foil Vedanta, KCM, London, Mining, Pollution, protest, solidarity, Vedanta, Zambialankoid

13th October 2017. Judges today threw out Vedanta’s appeal to the May 2016 High Court judgment allowing Zambian farmers to have their case against the company heard in the UK. The judgment adds further weight to precedents holding UK companies legally responsible for the actions of their subsidiaries.

Judges today released their verdict on Vedanta’s appeal in the case of the Chingola communities suing UK company Vedanta Resources, and their Zambian subsidiary Konkola Copper Mines (KCM), for pollution causing illness and loss of livelihood.

Press coverage: New York Times – Zambian Villagers Win Right to Sue Vedanta in English Courts

Newsclick – Zambian villagers can now sue Vedanta in England over poisoning their water.

Legal analysis at Lexology.com – Jurisdiction and parent company liability – Court of Appeal keeps door ajar for extra-territorial human rights related claims

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‘Zero harm’ – Minutes of Vedanta Resources’ 2017 AGM

September 6, 2017ArticlesAGM, Anil Agarwal, copper, Foil Vedanta, Human Rights, India, KCM, Lanjigarh, London, Mining, Niyamgiri, Odisha, Pollution, protest, Samarendra Das, Tom Albanese, UK government, Vedanta, Vedanta Aluminium, worker's deaths, Zambialankoid

7th September. This year was Vedanta’s 14th AGM, since registering on the London Stock Exchange in December 2003, and the 14th year that dissident shareholders have attended the meeting to hold the company to account for their environmental and human rights abuses. The minutes published by activist shareholders every year, documenting the company’s response to these, and other questions, represent important disclosures on Vedanta’s operations, finances and legal issues. Please spread them far and wide!

Minutes of Vedanta Resources’ 2017 AGM

In the beginning

1. After lengthy introductory remarks, the Chair, Anil Agarwal, opened the meeting. He called 2017 a year of great potential for Vedanta, noting they were now the sixth largest diversified resources company. He claimed that since 2003 the group has returned over £2 billion to shareholders, and heralded Vedanta’s positioning, because India and Africa give a unique opportunity for growth. While other companies look to China, he said, Vedanta has India, which is the fastest growing country in the world. Vedanta claims to be one of the biggest tax payers in India. By way of demonstrating his political connections in India, Mr. Agarwal noted he was able to join the Indian State visit to South Africa.

2. He assured shareholders that safety across the company continues to be a priority, claiming again that they are making zero harm, zero waste and zero discharge the ultimate goal. There is some way to go, but he claimed they will not stop until they have achieved this. Agarwal highlighted the ‘challenge’ of climate change and claimed that Vedanta takes its responsibility to society seriously, with various claims to be helping up to 2 million people, especially women and children. In July the company had held its third annual sustainable development meeting with various stakeholders in London. They claimed to welcome ongoing dialogue with NGOs, governments and stakeholders.

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Vedanta’s 2017 AGM again disrupted by protests

August 14, 2017ActionsAGM, aluminium, Anil Agarwal, bauxite, Cairn, copper, Corruption, Displacement, Dongria Kond, Foil Vedanta, Human Rights, India, KCM, Koodankulam, Lanjigarh, London, Mining, Niyamgiri, Niyamgiri Suraksha Samiti, Odisha, Orissa Mining Corporation, Pollution, protest, Samarendra Das, solidarity, Tom Albanese, UK government, Vedanta, Vedanta Aluminium, worker's deaths, Zambialankoid

14th 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.”

On 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.”

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