Thursday, a trio of Canada's largest miners will attempt to answer their accusers and argue against a proposed law which they say could devastate their industry and result in the loss of billions of dollars in financing and investment.From the Globe and Mail. I guess respect for the environment and human rights is too much to expect of the mining industry.
Executives from three mining heavyweights – Barrick Gold Corp., (ABX-T 46.240.671.47%) Goldcorp Inc., (G-T 46.520.681.48%) and Kinross Gold Corp. (K-T 21.200.683.31%) – are slated to testify in front of a parliamentary committee examining Liberal MP John McKay's bill, which has passed second reading. In a submission, the gold miners warn Bill C-300 will lead to “frivolous and vexatious claims” against mining firms and will put Canadian companies at a disadvantage against their international competitors.
They claim that the bill, believed to be the first of its kind in the world, would create a potential “exodus” of mining companies leaving Canada.
Thursday, November 26, 2009
Foreign activities bill angers miners
Periodically we hear stories about the activities of Canadian mining companies in the Third World, and it's not a good thing at all. Liberal MP John McKay has introduced a bill to remedy this, and the mining companies are freaking out: