Latest updates for Week Beginning 12th May 2008

Interventions at mining company annual general meetings have long featured as part of “shareholder action.” Until recently, almost all awkward questions levelled at these AGMs have come from campaigners – not least community representatives.

But that's starting to change. Last month, conventional shareholders also challenged Rio Tinto’s record at its London AGM (You can read about its Australian AGM here). And at least one South African, ferried to Anglo American’s equivalent event, didn’t completely toe the company’s line.

Some ethical shareholders in Goldcorp recently backed its proposed human rights impact assessmentof a mine in Guatemala. But a leading Canadian NGO fears this process will only compound damage already done to local people.

Panama’s environmental agency has accused a gold company of breaking the law; while Venezuelan workers are calling on their government to nationalise the country’s biggest gold mine. Although nationalisation seems far-off in Tanzania, the government there is debating how to capture more mineral profits for the state.

There’s speculation about China’s new protectionist policy, even while the regime is set to capture massive new mineral resources in DR Congo and Australia. Not lagging far behind China in these global stakes, India's biggest private company has snapped up coal mines in Indonesia.

Increasing militarisation of mining areas, and the activities of an Australian company evoke a wave of protest in the Philippines. A Brazilian uranium play, and another plan to exploit steel industry minerals, don’t go down well in the Canadian province of New Brunswick.

More actions are being taken to in the US to curb the country’s monstrous appetite for carbon.

Mines & Money update! We’ve updated “From Money to Metals” - our exclusive research on all aspects of mine financing, along with its unique database. Check it out now!