MAC: Mines and Communities

Another miner bites the dust

Published by MAC on 2007-04-11

Another miner bites the dust

11th April 2007

The world's biggest pension fund has - for the second time - disinvested from a mining company on the grounds that its investment poses an "unacceptable risk of contributing to [the company's] severe environmental damages."

Norway's Government Pension Fund-Global kicked Freeport McMoran Copper and Gold off its list last year, due to continuing and continual pollution caused by the Grasberg mine in West Papua (in which it is partnered by Rio Tinto).

Now it has done the same to DRD whose operations - in particular riverine waste disposal from its Tolukumua Gold mine in Papua New Guinea - are in breach of international norms.

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