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Article

13 Jul 2005

Author:
Katherine Teh-White, Futureye [opinion], in Age [Australia]

[PDF] A tale of two mines

BHP Billiton and Anvil Mining have one thing in common: they both own mines where massive protests have led to temporary mine closures...A Four Corners [television show] expose accused Anvil of helping the military [in Democratic Republic of Congo] suppress the "rebel insurgency", which the United Nations says led to the deaths of more than 100 people. Civil and criminal actions have been threatened...[against Anvil, whose] share price has been on a roller-coaster since...In stark contrast, BHP Billiton's approach led to the voluntary withdrawal of 3000 protesters from its Tintaya copper mine in Peru after human rights groups, government and industry joined together to...[call] for an end to the protest...[Despite] losing a month's production [from Tintaya], its share price was not hurt, increasing from $16 to $18 in the period...[This story is] about what happens when investors lose faith in a company to manage the complex environment in which it operates to the expectations of the developed world. [also refers to Shell, Freeport-McMoRan, Magma Copper (now part of BHP Billiton)]