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Steven O'Sullivan

U.S. Identifies Vast Riches of Minerals in Afghanistan - 0 views

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    The United States has discovered nearly $1 trillion in untapped mineral deposits in Afghanistan, far beyond any previously known reserves and enough to fundamentally alter...
Steven O'Sullivan

BP says oil spill costs reach US$2.65 billion - 0 views

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    The cost of the response to date amounts to approximately $2.65 billion, including the cost of...
Arabica Robusta

Conflict Minerals on the Blogs: Correcting Misperceptions | Enough - 0 views

  • Some criticisms of this campaign have implied that this issue is at odds with the views of Congolese people and civil society organizations. Again, this is simply false. We tend to be skeptical of anyone who tries to speak on behalf of “the Congolese people” because Congo’s population is far too vast, diverse, and opinionated to be reduced to a talking point
  • There are numerous other pressure points that the international community should help address, from security sector reform to justice and accountability, from ensuring a more transparent process for returning refugees, to devising a more effective strategy to dismantle the FDLR and to demobilize Congo’s many militia groups. But the conflict minerals issue resonates with a potent group of actors in the United States, namely, advocates and concerned consumers who do not want their purchases to fund armed groups in Congo, a handful of dedicated members of Congress and leaders in the Obama administration who see a lasting solution to the Congo conflict as part of their personal priorities and legacies, and increasingly, leaders in the electronics industry itself, which is responding to the moral and consumer pressure to take on this issue.
  • The Security and Exchange Commission is just beginning to work out the details of how the conflict minerals law will be implemented, and industry groups are lobbying hard to see that the SEC regulations carry as little weight as possible, by narrowly defining, for instance, which companies have to report on their activities in eastern Congo.
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  • Of course, in the short-term, some companies will choose to pull their business out of Congo altogether. This is not our objective, but it is a serious issue. Miners will lose jobs, and the main risk is that ex-combatants will rejoin militias. Here’s where we get back to the point that addressing conflict minerals trade has to be part of a much broader strategy, one that will span many years and focus on spurring broad economic recovery, promoting good governance and cracking down on corruption, and revitalizing peacebuilding efforts. In particular, companies that have long benefited from Congo’s cheap mineral trade should work with donors to create a fund dedicated to supporting alternative livelihoods for miners
  • Addressing the minerals trade is particularly important because until recently it was neglected, disregarded by diplomats and policymakers in negotiations and peace talks. Also, international advocacy on conflict minerals can be more effective than on other issues in the conflict, because of the international dimension of the trade.
Peter Hollard

Coal and Treasuries | Gregor.us - 0 views

  • When the developing world faced higher oil prices, it guided its development toward power generation. But when the developed world, already married to an oil based infrastructure, faced higher oil prices it guided its development towards growth in credit. The United States is the number 2 user of coal, behind China, at 565 mtoe per year. And Germany is the number 7 user of coal at 85 mtoe per year. But coal demand growth in the OECD is largely halted by infrastructure. Most of the powergen additions in the OECD the past 30 years have been natural gas fired. Take a look at the growth of coal demand over the past 20 years, meanwhile, back in the developing world.
    • Peter Hollard
       
      India is going to be a big buyer of coal... coal prices are set to rise
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    Coal looks to be a good investment going forward ....
Arabica Robusta

Like Water for Gold in El Salvador | The Nation - 0 views

  • ADES (the Social and Economic Development Association), where local people talked with us late into the night about how they had come to oppose mining. ADES organizer Vidalina Morales acknowledged that “initially, we thought mining was good and it was going to help us out of poverty…through jobs and development.”
  • He talked about watching the river near his farm dry up: “This was very strange, as it had never done this before. So we walked up the river to see why…. And then I found a pump from Pacific Rim that was pumping water for exploratory wells. All of us began to wonder, if they are using this much water in the exploration stage, how much will they use if they actually start mining?”
  • Three people recounted how a Pacific Rim official boasted that cyanide was so safe that the official was willing to drink a glass of a favorite local beverage laced with the chemical. The official, we were told, backed down when community members insisted on authentication of the cyanide. “The company thought we’re just ignorant farmers with big hats who don’t know what we’re doing,” Miguel said. “But they’re the ones who are lying.”
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  • As the anti-mining coalition strengthened with support from leaders in the Catholic Church, small businesses and the general public (a 2007 national poll showed that 62.4 percent opposed mining), tensions within Cabañas grew.
  • Along one wall is the Salvadoran version of the US Vietnam Veterans Memorial, in this case etched with the names of about 30,000 of the roughly 75,000 killed in the civil war. Thousands of them, including the dozens killed in the Lempa River massacre of 1981, were victims of massacres perpetrated by the US-backed—often US-trained—government forces and the death squads associated with them.
  • Anti-mining sentiment was already so strong in 2009 that both the reigning ARENA president and the successful FMLN candidate, Mauricio Funes, came out against mining during the campaign.
  • We pushed further, trying to understand how a technical analysis could decide a matter with such high stakes. On the one hand, we posed to Duarte, gold’s price has skyrocketed from less than $300 an ounce a decade ago to more than $1,500 an ounce today, increasing the temptation in a nation of deep poverty to consider mining. We quoted former Salvadoran finance minister and Pacific Rim economic adviser Manuel Hinds, who said, “Renouncing gold mining would be unjustifiable and globally unprecedented.” On the other hand, we quoted the head of the human rights group and Roundtable member FESPAD, Maria Silvia Guillen: “El Salvador is a small beach with a big river that runs through it. If the river dies, the entire country dies.”
  • While he hoped this process would produce a consensus, Duarte admitted it was more likely the government and the firm would have to lay out “the interests of the majority,” after which the two ministries would then make their policy recommendation.
  • Oscar Luna, a former law professor and fierce defender of human rights—for which he too has received death threats. We asked Luna if he agreed with allegations that the killings in Cabañas were “assassinations organized and protected by economic and social powers.” Luna replied with his own phrasing: “There is still a climate of impunity in this country that we are trying to end.” He is pressing El Salvador’s attorney general to conduct investigations into the “intellectual” authors of the killings.
  • Our interactions in Cabañas and San Salvador left us appreciative of the new democratic space that strong citizen movements and a progressive presidential victory have opened up, yet aware of the fragility and complexities that abound. The government faces an epic decision about mining, amid deep divisions and with institutions of democracy that are still quite young. As Vidalina reminded us when we parted, the “complications” are even greater than what we found in Cabañas or in San Salvador, because even if the ban’s proponents eventually win, “these decisions could still get trumped in Washington.”
  • The brief methodically lays out how Canada-headquartered Pacific Rim first incorporated in the Cayman Islands to escape taxes, then brazenly lobbied Salvadoran officials to shape policies to benefit the firm, and only after that failed, in 2007 reincorporated one of its subsidiaries in the United States to use CAFTA to sue El Salvador.
  • Dozens of human rights, environmental and fair-trade groups across North America, from U.S.-El Salvador Sister Cities and the Committee in Solidarity With the People of El Salvador (CISPES) to Oxfam, Public Citizen, Mining Watch and the Institute for Policy Studies, are pressuring Pacific Rim to withdraw the case.
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