In this letter to Export Development Canada and the U.S. Export-Import Bank, Chilean and Argentine organizations express harsh criticisms regarding the public agencies' due diligence processes concerning Barrick Gold's application for support for Pascua Lama.
For Immediate Release
Canada's Mining Companies: It's the Government's Turn
Embassy Magazine Editorial -
http://www.embassymag.ca/html/index.php?display=story&full_path=/2007/may/23
An investment newsletter offers the advice that there are still vast profits to be made from extraction investment in the Toronto Stock Exchange "because more and more mining companies are heading to Canada."
February 5, 2003
Mr. Fraser Reilly-King
National Coordinator
The NGO Working Group on the EDC
Halifax Initiative
153 Chapel Street, Suite 104
Ottawa, Ontario
K1N 1H5
Dear Mr. Reilly-King:
This is in reply to your letter of January 17, 2003, co-signed by the International Rivers Network in which you express concerns about our support for the Three Gorges Hydroelectric Project in China.
Mr. Ian Gillespie
President and CEO
Export Development Canada
MEDIA RELEASE
The Export Development Corporation support for dams
criticized in new report by World Commission Report on Dams
Coalition demands EDC place a moratorium on dam-building
Plans by US, Canada and EU to finance massive copper mine in DRC disregard Congolese government review of mining deals
On July 12, the US government’s Overseas Private Investment Corporation (OPIC) is set to give its backing to mining major Phelps Dodge/Freeport McMoRan for the company’s Tenke Fungurume copper project in the Democratic Republic of Congo (DRC). Other public lenders such as Export Development Canada (EDC) and the European Investment Bank (EIB) are expected to follow suit. These financing plans are proceeding in spite of the fact that the Tenke deal is among 60 contracts currently under review by the Congolese government.
Dams Could Win OECD Support
Sanjay Suri
BONN , May 13 (IPS) - The OECD took a controversial decision Friday to consider loans for large dams on favourable terms.
The Organisation for Economic Cooperation and Development (OECD), a grouping of 30 rich nations, took a provisional decision to consider loans for hydropower projects that could be repaid over 15 years in place of the present ceiling of eight-and-a-half years.
The OECD at present allows 15-year repayment for nuclear power projects. The decision Friday brings hydro projects on a par with repayment terms for nuclear projects.
The provisional decision is subject to discussions between OECD officials and experts from several disciplines over the next six months.
Non-governmental organisations want the experts and officials to particularly consider the recommendations of the World Commission on Dams (WCD).
Stop 'rogue' Canadian mining operations abroad, MP urges
Mike De Souza
CanWest News Service
Wednesday, September 19, 2007
OTTAWA - The federal government should immediately crack down on the unethical and destructive practices of Canadian mineral extraction companies that profit from weak laws and regulations in developing companies, NDP foreign affairs critic Alexa McDonough said Wednesday.