Op Glencore

August 27, 2012 § Leave a comment

Have you heard of Trifagura ? The Rogue Commodities Trading house with all the dirty tricks up its sleeve?? Recently floated IPO Glencore might just make the serial Oil Industry Maverick look like Greenpeace. The South African born Swiss based Australian National CEO of Glencore Ivan Glasenberg is Australia’s second richest man. His and Glencores fortunes are harvested from some exceedingly unethical business decisions which have disastrous consequences for the people and environment in the places unfortunate enough to be on their exploitative radar. 
Our Congolese brother Patrice has brought the worlds largest trading house Glencore’s activities via its 60% controlled Mutanda Mining subsidiary to our attention. http://www.glencore.com/mutanda-mining.php – This is the palatable face Glencore chooses to put on its activities for the benefit of its shareholders consciences …
In the Mining sector Glencore is accused of at the very least corruption in the Democratic Republic of Congo. Global Witness is calling on Glencore to explain potentially corrupt deals in the Democratic Republic of Congo, and is calling on the company to provide more details about its relationship with an Israeli businessman who is key to its substantial mining investments in the country. The concerns, detailed in a briefing for Glencore’s shareholders, are being published on the day of the company’s first AGM as a publicly listed company…( read more )

    • The United Nations, aid agencies and the British Government have lined up to attack the world’s largest commodities trading company, Glencore, after it described the current global food crisis and soaring world prices as a “good” business o…See More


      The United Nations, aid agencies and the British Government have lined up to att…See More
    •  For a company that has such a large presence in Australia, and that played such a significant role in the ousting of a Prime Minister, Xstrata gets curiously little attention in the local media. And its biggest shareholder, dominant customer and would-be outright owner Glencore gets even less…http://www.crikey.com.au/2012/08/27/glencore-xstrata-and-making-a-motza-from-emerging-food-panic/


      Glencore is looking to rising food prices as way to offset recent declines in minerals prices.
    •  Glencore’s Colombian subsidiary (Prodeco) has been operating on government-owned land “that was forcibly taken from its previous residents by paramilitaries; at least 18 people were murdered in a six month ‘campaign of terror’ at El Prado, northern Colombia.” ————–Six months later, on 22 September 2007, Glencore was accused of implementing an aggressive anti-union policy at its Minera Los Quenuales lead-zinc operations in Peru where, a month before, a worker had died when crushed under a heap of ore…………………….Members of the Wutha Native (Aboriginal) Title Claimants Group in Australia were “cheated of an agreement made with Glencore in 1996, under which the company guaranteed to employ some of them in return for mining nickel on their land. (The case was settled only recently out of court.)” [The Times, ibid]…………….. …….. I n March 2011, two Swiss NGOs, Bread for All and the Catholic Lenten Fund, accused Glencore of a range of human rights abuses, including employing child labour, causing pollution and evading taxes in the Democratic Republic of Congo [1]

      The accusations centred around Glencore’s operations in the province of Katanga where it has a $250 million, 77 per cent share in Katanga Mining Limited (KML), a major copper and cobalt producer……………… http://moneytometal.org/index.php/Glencore


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