Rio Tinto accused of environmental and human rights breaches

Native Mongolian herders angry that copper and gold mine is threatening fresh water supply and ecologyProtesters from around the world attacked mining company Rio Tinto for a string for alleged environmental and human rights breaches during a fiery meeting with shareholders in London on Thursday.Native Mongolian herders claimed that a $5bn (£3.3bn) expansion of the […]
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This mining in the Moors row exposes a deeper environmental offensive | Richard Seymour

The coalition’s encouragement of developers such as York Potash forms part of a neoliberal assault on the environmentI recently took a trip through the Moors, en route to Whitby. The train from Middlesbrough meandered through miles of lavish Yorkshire countryside, stopping at tiny hamlets like Castleton Moor, and Ruswarp.It was positively barbaric. Yes, the cottages […]
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Eurozone crisis live: Greek and Spanish fears hit markets again

Fitch’s Greece downgrade and Moody’s Spanish bank rating cut punished Asian markets and are set to hit European shares7.56am: Risk aversion has driven the US dollar up this morning, as traders look to put their money somewhere safe.This has pushed the euro down to a new four-month low of $1.2649 against the US dollar.7.49am: Moody’s […]
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Marks & Spencer and Next fall on H&M cost comments, as FTSE slips back again

Swedish retailer warns cotton prices will hit margins, while investors await eurozone news from Spain and CopenhagenMarks & Spencer and Next are among the early fallers as the market edges lower once more ahead of an important couple of days for the eurozone.Marks is down 6.3p to 377.9 and Next has lost 32p to £29.77, […]
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Rio Tinto chief executive continues to pay high price for Alcan acquisition

The aluminium firm that has cost Tom Albanese his bonus was the subject of a hard-fought battle in 2007Alcan, formerly known as the Aluminium Company of Canada, became the subject of a fierce bidding war in the summer of 2007, eventually falling to Rio Tinto in a $38bn (£24bn) acquisition sealed less than a month […]
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Rio Tinto’s Albanese becomes latest FTSE boss to give up bonus

Mining group wrote down the value of aluminium division Alcan, bought in 2007 during a record-breaking takeover battle, by $8.9bnThe boss of global mining group Rio Tinto has become the second FTSE 100 chief executive in as many weeks to voluntarily forego his bonus.Tom Albanese, who received salaries, bonus and benefits of $2.97m (£1.87m) in […]
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What a previous big mining club deal can show us about the Glencore offer

Xstrata’s shareholders are being asked to swallow hard and accept Glencore’s termsOne more thing about the miserly premium that Glencore has offered in its bid for Xstrata: it looks even less generous when you look at another huge all-paper transaction proposed a few years ago by a member of the big mining club.Andrew Keen, analyst […]
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Chinese manufacturing data boosts FTSE

Strong chinese manufacturing data boosted shares on the first day of trading in 2012, as a deathly quiet hush descended on the corporate world.The Chinese manufacturing Purchasing Managers’ Index for December showed a rise in activity, the index recording 50.3 against a figure of 49 in November.That was enough to boost the big miners listed […]
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