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.
Panama’s construction workers’ union blocked highways and marched on congress on Monday to demand that lawmakers reject a contract with Canadian miner First Quantum Minerals Ltd.
Union leader Saul Mendez said the contract violates national sovereignty by granting the company control of land, air and maritime space and doesn’t do enough to protect workers’ rights.
IN DEPTH: Protests cast doubt on approval of First Quantum’s contract in Panama
The contract is under discussion in Panama’s legislative commerce committee, which has been holding informative meetings with affected communities over the past two weeks. The contract will require three votes in the legislative assembly before becoming law.
President Laurentino Cortizo said over the weekend he would await recommendations from the commerce committee before he decides whether or not to withdraw the bill from congress.
(By Michael McDonald)
Comments
Chikanko muti
These challenges are being experienced everywhere! It’s global.