Tuesday, August 19, 2014 8:45:28 AM
GlencoreXstrata: Working Conditions at Katanga Mining Ltd. DR Congo
project brief describtion Katanga Mining Ltd. operates a copper-cobalt project in the Democratic Republic of Congo. It is a 75% subsidiary of Glencore, listed at the Toronto Stock Exchange and has changed its incorporation from Bermudas to the Yukon Territory in Canada in 2011 (which has the lowest corporate income tax rates in Canada).
Katanga Mining Ltd. holds a 75% stake in two joint ventures with Gécamines, a state-owned mining company in the DRC: Kamoto Copper Company (KCC) and DRC Copper and Cobalt Project (DCP).
NGOs allege the mining company of unfair concession contracts, tax evasion, exploitation of the “mines artisanales”, labour right abuses and environmental damages in DR Congo.
impacts
Tax evasion: Glencore and its subsidiary Katanga Mining in the DRC are accused to move their profit gained in the countries of production into tax havens. This practice inhibits the economic development in their host countries.
Labour rights abuses: Workers, many of them on short term contracts, are forced to operate under the poorest of conditions. They are not provided with any safety attire and therefore are exposed to the dustin the mines which leads to severe health problems. The BBC accused Glencore of indirectly receiving copper produced by child labour from the Tilwezembe copper mine. They also accused Glencore of dumping heavily polluted waste into the Luilu river.
Communities: Locals claims there is no communication with KML. They complain the damages of their houses due to explosions at the mines and the pollution of water resources.
Concession rights: Mining activities are based on contracts made shortly after the fall of Mobuto dictatorship. They were not revised when transferred to KML.
(With links and references: http://www.facing-finance.org/en/database/cases/katanga-mining/ )
Recent KAT News
- Katoro Gold shares fall despite Haneti project advancements • Alliance News • 04/17/2024 12:55:20 PM
- Katoro Gold PLC Business Update • RNS Non-Regulatory • 04/17/2024 06:00:10 AM
- Pebble doubles dividend despite reduced profit • Alliance News • 03/19/2024 04:17:03 PM
- Katoro Gold PLC Business Update • RNS Regulatory News • 03/19/2024 07:00:05 AM
- Katoro Gold PLC Holding(s) in Company • RNS Regulatory News • 03/14/2024 05:02:29 PM
- Katoro formally appoints Power Metal CEO as new non-executive chair • Alliance News • 02/29/2024 01:11:50 PM
- Katoro Gold PLC Total Voting Rights • RNS Regulatory News • 02/29/2024 12:50:04 PM
- Katoro Gold PLC New Chairman Appointment Confirmed • RNS Regulatory News • 02/29/2024 07:00:16 AM
- Katoro Gold PLC Holding(s) in Company • RNS Regulatory News • 02/27/2024 11:18:20 AM
- Katoro Gold PLC Holding(s) in Company • RNS Regulatory News • 02/21/2024 02:46:23 PM
- Katoro Gold PLC Settlement of Director Fees • RNS Regulatory News • 02/21/2024 07:00:07 AM
- Katoro Gold names Power Metal CEO as new chair • Alliance News • 02/15/2024 02:00:13 PM
- Katoro Gold PLC Proposed New Chairman Appointment • RNS Regulatory News • 02/15/2024 07:00:06 AM
- Katoro Gold gets additional financing; raises GBP825,000 • Alliance News • 02/14/2024 03:25:32 PM
- Katoro Gold PLC Additional funding pursuant to Fundraise • RNS Regulatory News • 02/14/2024 10:56:06 AM
- Katoro Gold launches fundraising, eyes board shake-up • Alliance News • 02/12/2024 07:44:06 PM
- Katoro Gold PLC Financing, Business Development & Director Changes • RNS Regulatory News • 02/12/2024 07:00:07 AM
- Katoro Gold PLC TR-1: Notification of Shareholdings • RNS Regulatory News • 01/25/2024 04:03:13 PM
- Katoro Gold PLC TR-1: Notification of Major Shareholdings • UK Regulatory • 01/10/2024 04:15:00 PM
- Katoro Gold PLC TR-1: Notification of Major Shareholdings • UK Regulatory • 01/04/2024 02:56:00 PM
- Katoro Gold PLC TR-1: Notification of Major Shareholdings • UK Regulatory • 01/04/2024 02:53:00 PM
- Katoro Gold says no proof of payment from Imweru joint venture partner • Alliance News • 01/03/2024 08:58:48 AM
- Katoro Gold PLC Joint Venture Agreement with Lake Victoria Gold • UK Regulatory • 01/03/2024 07:00:00 AM
- Katoro Gold PLC TR-1: Notification of Major Shareholdings • UK Regulatory • 12/13/2023 04:00:00 PM
- Katoro Gold PLC TR-1: Notifications of Major Shareholdings • UK Regulatory • 12/11/2023 03:06:00 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM