Press Releases

Press Release - August 22, 2005

Leaked Review Slams World Bank over Canadian Mine

August 22, 2005 - A leaked internal audit assessing the World Bank's involvement in a controversial Canadian gold mine in Guatemala has exposed glaring deficiencies in the due diligence undertaken by the Bank prior to approving a $45 million loan for the mine.

Glamis Gold's Marlin mine in the Western Highlands of Guatemala has been plagued with controversy since the outset. In March, the Compliance Advisory Ombudsman (CAO), the internal auditor for the Bank's private sector lending arm, the International Finance Corporation (IFC), began an investigation after receiving local complaints about the mine.

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