Feb 262014

By Michelle Chan, BankTrack Chair and Friends of the Earth Economic Policy Director, 12 February 2014

In 2012, a Chinese-owned mining company, EcuaCorriente, signed a deal with the Ecuadorean government to develop a copper mine in one of the most biodiverse and beautiful places on earth. Located in Ecuador’s misty highlands, the Mirador mine has since been the target of protests, lawsuits and resistance from communities and organisations concerned about the mine’s impact on water, biodiversity and indigenous peoples.

El Mirador is just one example of a foreign direct investment that has attracted intense controversy – an unwelcome side effect of a Chinese foreign policy that has encouraged Chinese companies to go global.

Continue reading »

Feb 182014

By Ashish Fernandez, Greenpeace and Justin Guay, Sierra Club, 12 February 2014

Three years can be an eternity for a coal company. In October 2010, Coal India, then the world’s largest coal miner, was seen as one of the most valuable equity investments in the emerging economies. With its 1.2 billion strong population and a healthy growing economy, India seemed primed to devour plenty of cheap coal. Coal India with a virtual monopoly over coal supply was set to feed this hunger and provide enormous profit for shareholders. But 2013 was Big Coal’s Annus Horribilisand even Coal India wasn’t spared.

Continue reading »