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.
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.”
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:
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
On 2nd September indigenous Dongria Kondh and Dalit Bahujan residents of Niyamgiri mountain held a demonstration in Muniguda, Odisha, under the banner of Niyamgiri Suraksha Samiti. The protest demanded an end to harassment, false arrests and murder of indigenous activists by police and paramilitary forces, and rejected the involvement of NGO’s in their decades long movement to prevent Vedanta and other companies mining their sacred mountain.
Protesters blocked the main road for several hours and burnt tyres.
The demonstration is part of ongoing anger at the false arrest of Dasuru Kadraka, the thirty year old Dongria Kondh youth leader of Niyamgiri Suraksha Samiti (NSS), who was picked up from the Muniguda market by the police six months ago, and subsequently brutally tortured and implicated in several false cases.
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.
The time has come around again for our annual Global Day of Action against Vedanta at their AGM. As usual we will bring the defiant energy of communities fighting (and winning) against Vedanta around the world to London! From pollution affected communities of Zambia who won their 9 years battle in their Supreme Court, and now won the right to have their case heard in Britain, to the indigenous Dongria Kond who are now demanding the dismantling of their refinery in Lanjigarh after winning their case in the Supreme Court of India (see below for more).
Parallel demonstrations are already planned in Zambia and India on the 4th August for this Global Day of Action and questions raised by the communities will be asked inside the AGM meeting.
JOIN US OUTSIDE VEDANTA’S LONDON AGM WHILE COMMUNITIES PROTEST ACROSS AFRIKA AND INDIA
CELEBRATE THE VICTORIES WON THIS YEAR AT NIYAMGIRI AND ZAMBIA!
Bring drums, placards and loud voices.
Friday 5TH AUGUST 2016, 2 – 4pm.
Ironmongers Hall, Barbican, EC2Y 8AA
LOOTER! POLLUTER! CRIMINAL!
Please join our Facebook event page if you can come to London on 5th August.
If you would like to plan a demonstration or organise any event in solidarity with any Vedanta affected community, in any part of the world please get in touch.
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.
A placard addressing NGO’s role in Zambia
A short version of this article was published in The Land magazine’s summer edition 2015. A PDF of the full version below can be downloaded here:Northern Governmental Organisations.
Northern Governmental Organisations: between the free market and the nation state
Samarendra Das and Miriam Rose
The NGO sector is one of the world’s largest industries. In 2009 there were 3.3 million NGOs (or 1 for every 400 people) in India alone, with money pouring in from Intergovernmental Organisations (IGOs), Western donor agencies and philanthropic funds.
Though some critiques of the big NGOs and humanitarian aid have reached the mainstream media in recent years, the general Western perception is that NGOs are doing important and effective work on behalf of millions of deprived people without a voice.
This article gives an alternative perspective. Based on conversations with grassroots activists and marginalised communities in India and Africa over many years of our work on extractive industries, we draw together the common critiques of advocacy and development NGOs in the ‘Third world’ or ‘global South’ – from their role in dividing and co-opting people’s movements by professionalising activism, to their lack of accountability to the people they claim to represent. We show that, behind the ‘rights based’ rhetoric, NGOs consciously or unconsciously serve the neoliberal interests of donor countries, institutions, and even companies.
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.