Tag Archives: Foil Vedanta

‘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

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

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

Anil Agarwal's London mansion
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

Ban Sterlite protest TuticorinMeanwhile 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 14th March.

Continue reading London and Tuticorin mass rally to ban Sterlite

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

Lonmin AGM 2018 Marikana16 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.

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

Thoothukudi residents resist Sterlite expansion

Thoothukudi Sterlite protest
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.
Continue reading Thoothukudi residents resist Sterlite expansion