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Date: April 30, 2024 Tue
Time: 1:57 am
Time: 1:57 am
Results for conflict mining
1 results foundAuthor: Ewing, Jonathan Title: A Lot of Gold, A Lot of Trouble: A study of humanitarian impacts of the gold industry in DR Congo Summary: The Democratic Republic of the Congo (Congo-Kinshasa or DR Congo) is a country still recovering from a ruinous eight-year civil war that killed more than 5.4 million people. The value of untapped deposits of raw minerals is equivalent to the combined gross domestic product of Europe and the United States. Cobalt, diamonds, copper and, of course, gold is on the list along with highly sought after casserite, wolframite and coltan, which are used in consumer electronic products. Much of the extraction, or mining, is done in small operations known as artisanal, or small-scale mining, where the regulations that govern the activities are rarely enforced. Recently, more money is being invested into the extraction and refining of some of the ores found in the DR Congo, primarily copper, cobalt, and very recently, gold in Orientale Province. Mineral Invest International MII AB is a Swedish junior gold mining company surrounded by some of the largest international players in the extractive sector. Despite its diminutive size and its limited financial resources, the local community is waiting for Mineral Invest to increase its operation. The artisanal miners hope for jobs and the local community is waiting for development in the form of schools, hospitals and improved roads. According to Mineral Invest's website, the company has laudable plans for development projects in the area where it operates. Swedwatchs' and Diakonia's study shows that investment in post-conflict countries like DR Congo should require proper due diligence and a social licence to operate. So far, this has not been carried out. The DR Congo's Cadastre Minier has issued the licenses to SOKIMO, which is a partner in the joint venture with Mineral Invest. This joint venture features significant payments to the Democratic Republic of the Congo without specifying the recipient authority or entity within the state, which is a problem of transparency. The contractual agreement between Mineral Invest and the Congolese state-run mining company, SOKIMO, implies conflicts of interest and a lack of clarity. SOKIMO being both provider of mining licenses and at the same time having a financial interest implies a concentration of power that can create conflicts of interest and invite corruption. The allocation of payments to the state raises concerns as well as the agreements regarding development projects or, for example, accountability for environmental destruction. Finansinspektionen, the Swedish financial regulator, and Aktietorget, the Swedish market where Mineral Invest is publicly traded, have insufficient regulation and guidance for companies operating in difficult or post-conflict countries. Mineral Invest has not worked out an agreement, often called a social license to operate, with members of the local community where it operates. The company has contracted a unit of the Congolese military to provide security. This unit has been implicated in the ethnic slaughter of pygmies and cannibalism. The soldiers have also been accused of extorting gold from miners. Details: Stockholm: Diakonia; SwedWatch, 2012. 55p. Source: Internet Resource: Accessed October 17, 2016 at: http://www.diakonia.se/globalassets/documents/diakonia/publications/reports/2012-a-lot-of-gold-a-lot-of-trouble.pdf?_t_id=1B2M2Y8AsgTpgAmY7PhCfg%3d%3d&_t_q=a+lot+of+gold&_t_tags=language%3aen%2csiteid%3adfed4c1a-bbd8-450f-954a-02cff1abcc09&_t_ip=165.230.70.227&_t_hit.id=Diakonia_Web_Models_Media_GenericMedia/_4baca66d-47cc-4b18-83eb-3ca74a73271b&_t_hit.pos=1 Year: 2012 Country: Congo, Democratic Republic URL: http://www.diakonia.se/globalassets/documents/diakonia/publications/reports/2012-a-lot-of-gold-a-lot-of-trouble.pdf?_t_id=1B2M2Y8AsgTpgAmY7PhCfg%3d%3d&_t_q=a+lot+of+gold&_t_tags=language%3aen%2csiteid%3adfed4c1a-bbd8-450f-954 Shelf Number: 145097 Keywords: Conflict MineralsConflict MiningGold MiningIllegal MiningMining IndustryNatural Resources |