Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The Kimberley Process (KP) rough diamond certification scheme failed to reach a consensus to suspend Zimbabwe at last week’s Plenary meeting in Namibia, in spite of evidence of serious non-compliance with the KP’s requirements and widespread government-sponsored human rights abuses, according to civil society groups. “Governments’ failure to suspend Zimbabwe points to fundamental weaknesses in the scheme’s procedures and to a serious lack of political will to take decisive action when countries are not implementing minimum standards,” said Annie Dunnebacke from Global Witness, an organisation investigating and campaigning to prevent natural resourced-related conflict and corruption. (more…)
